Buy or sell: Ruchit Jain of 5paisa recommends buying Tata Steel and Pidilite Industries for tomorrow
Stock Market News: Domestic benchmark equity indices, the Sensex and the Nifty 50, ended Monday's trading session on a positive note with modest gains led by metal stocks on the back drop of robust China data, news about Tata Steel block deals, and copper prices that were at a record high globally. The 30-share BSE Sensex ended higher by 104.99 points or 0.14% at 72,748.42 level while the Nifty 50 closed at 22,055.70 level, up 32.35 points or 0.15%.
Also Read: Stock market today: Sensex, Nifty 50 end in the green; auto, metal stocks shine However, the stress test rule for mutual fund schemes for small and midcap stocks by the Securities and Exchange Board of India (SEBI) kept broader markets under pressure. The Nifty Midcap 100 closed 0.39% down while the Nifty SmallCap 100 closed 0.57% lower.
Investors are currently awaiting Japan's central banks' and the US Federal Reserve's policy decisions going forward tomorrow. This week's market direction will be determined by the US Federal Reserve, Bank of Japan, and Bank of England, among other global central banks, according to Vinod Nair, Head of Research at Geojit Financial Services.
Short-term sentiment should be mixed due to the US Federal Reserve's indication that a rate cut is likely to occur in the second half of 2024. Also Read: Federal Reserve meet in focus: Will the Fed give clear signals on rate cuts? Top experts weigh in "Exciting news! Mint is now on WhatsApp Channels
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