Buy or sell: Ruchit Jain recommends these two stocks to buy next week
Stock Market News: Domestic equity benchmark indices, Nifty 50 and Sensex, ended in red on Saturday's session due to losses led by information technology (IT) firms, Hindustan Unilever, and Reliance Industries. Conversely, private banks saw selective purchasing following the recent strong correction and steady Q3 earnings.
Following a full day of trading on Saturday, the equities market will be closed on Monday due to a public holiday in Maharashtra and the national government's half-working day in honour of the opening of the Ram Temple in the northern city of Ayodhya. The S&P BSE Sensex fell 0.4% or 259.58 points to 71,423.65, while the Nifty 50 closed 0.23% or 50.60 points lower to 21,571.80.
Analysts claim that the benchmark Nifty 50 had a lacklustre session. Digging deeper, Nifty 50 gave up gains in the fag-end of Saturday's regular trading session.
"Nifty ended lower in Saturday's trade, but the positive takeaway was that there was ‘lack of bearish conviction’. Perhaps that was on backdrop of Wall Street climbing in Friday’s trade, with the S&P 500 and the Dow Jones Industrial Average marking new record closes," said Prashanth Tapse, Research Analyst, Senior Vice President of Research at Mehta Equities.
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