
Stocks to buy: Raja Venkatraman's top picks for 16 December
Subscribe to enjoy similar stories. Selling pressure on the rally continues to keep a check on market conditions, as the lack of clarity continues to push the market lower with every rally. With the trends continuing to blow hot and cold, we need to now ascertain that the market is demanding us to have a hybrid approach.
Best stocks to buy today (all buy trades are rates of equity and sell rates are based on F&O) Fortis Healthcare Ltd: Buy above ₹877 | Stop ₹865 | Target ₹897 (intraday) BSE Ltd: Sell below ₹2,640 | Stop ₹2,682 | Target ₹2,580 (intraday) Sbi Life Insurance Co. Ltd: Buy above ₹2,035 | Stop ₹2,005 | Target ₹2,080 (intraday) On 15 December, equity benchmarks Sensex and Nifty ended slightly lower but managed to recover from sharp intraday declines, aided by selective value buying. The Sensex slipped 54 points, or 0.06%, to close at 85,213 after falling nearly 427 points earlier in the day to 84,840.
The Nifty also eased 19 points, or 0.08%, to settle at 26,027. The rebound was driven by three key factors. First, investors stepped in to accumulate stocks at attractive valuations, particularly in the Nifty Bank, consumer durables, FMCG, and IT counters, reversing early weakness triggered by global market softness, persistent foreign fund outflows, and uncertainty over the India-US trade deal.
Second, firm cues from US markets, with futures trading higher by up to 0.3%, lifted sentiment and supported recovery in domestic equities. Third, renewed buying in FMCG stocks added strength, with Britannia and Marico among notable gainers, rising nearly 2%. Despite the best intentions, the market could not conjure up enough strength to continue its upward march seen on Friday.
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