Day trading guide for today: Six buy or sell stocks for Wednesday — July 26
Day trading guide for today: Domestic equity benchmarks Sensex and Nifty ended Tuesday’s volatile session flat amid mixed global cues, as gains in metals and auto stocks were offset by selling in banking, FMCG and IT stocks. The Sensex ended 29.07 points, or 0.04 per cent, lower at 66,355.71, while the Nifty settled the day 3.35 points, or 0.02 per cent, higher at 19,675.70. Broader markets ended mixed, as the Nifty Smallcap 100 fell 0.11 per cent, while the Nifty Midcap 100 index rose 0.39 per cent for the day.
The BSE Midcap index closed with a gain of 0.39 per cent at 29,750.29, while the BSE Smallcap index ended 0.31 per cent higher at 34,279.08. In the Nifty pack, 25 stocks ended with gains, while the remaining 25 ended lower. The Nifty Metal index jumped 2.84 per cent, Nifty Media gained 1.51 per cent, while Nifty Auto rallied 0.95 per cent for the day.
Nifty Oil & Gas closed with a gain of 0.69 per cent, followed by Nifty Pharma which was up 0.36 per cent. On the other hand, Nifty Bank ended 0.17 per cent lower. Nifty PSU Bank fell 1.46 per cent, Nifty FMCG declined 0.86 per cent, while Nifty IT dropped 0.28 per cent in the session.
On the outlook for Nifty today, Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services observes that Nifty witnessed pressure for the third consecutive day and traded sideways throughout the session to close with minuscule gains at 19,681 levels. ‘’After making a fresh high of 19,992 on 20th July – just a few points away from the psychological level of 20k, Nifty witnessed profit booking on account of mixed corporate results and weak global cues. We expect cautiousness in the market, ahead of the Federal Reserve's policy meeting on Wednesday where a 25bps hike is
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