Stocks to buy: Raja Venkatraman's recommends three stocks for 17 February
Subscribe to enjoy similar stories. Stock market update: Post the sharp decline, the absence of global markets brought back some cheer. The trends remain tentative as they try to defend the lower levels.
Overall suspicion about the way forward shall remain, but stock-specific action keeps us active. Best stocks to buy today (All Buy trades are rates of Equity & Sell rates are based on F&O) Engineers India Ltd: Buy above ₹227 | Stop ₹215 | Target ₹251 multiday) JB Chemicals & Pharmaceuticals Ltd: Buy above ₹1,980 | Stop ₹1,915 target | ₹2,145 (multiday) Graphite India Ltd: Buy above ₹675 | Stop ₹635 | Target ₹780 (multiday) On 16 February, Indian benchmark indices staged a strong rebound, snapping a two-day losing streak in a volatile session. The Nifty opened weak, slipping below 25,400 in early trade amid mixed global cues, but quickly recovered as buying interest picked up in banking, energy, realty, and financial stocks.
Momentum built steadily through the day, lifting the index near 25,700 before closing close to its intraday high. At the close, the Sensex surged 650.39 points, or 0.79%, to 83,277.15, while the Nifty 50 gained 211.65 points, or 0.83%, to settle at 25,682.75. Broader markets underperformed, with the Nifty Midcap Index advancing 0.48% and the Smallcap Index edging up just 0.11%.
Despite the cautious global backdrop, the late-session rally underscored resilient domestic sentiment, driven largely by sectoral strength in financials and energy, which helped offset weakness in autos and select IT counters. Hesitation has been overcome, and the strong resolve to move higher at the start of the week has met with good demand. As the trends begin to reverse the decline over the last few days, we are once again
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