Top Stock Recommendations: Osho Krishan of Angel One suggests buying Radico Khaitan and HDFC AMC today
Stock Market News: The domestic equity benchmark indices, the Sensex and the Nifty 50, opened in green on Thursday after declining for three straight sessions. The domestic indices tracked Asian counterparts and were led by PSU bank stocks, energy companies due to a decline in oil prices, and metals stocks as a result of concerns over global supply. On Thursday, the S&P BSE Sensex opened up 239.42 points, or 0.33%, at 73,183.10, while the NSE Nifty 50 began up 64.40 points, or 0.29%, at 22,212.35.
Geojit Financial Services' Chief Investment Strategist, Dr. V K Vijayakumar, noted that the tension between Israel and Iran in West Asia is still having an impact on stock markets around the world. Markets are unlikely to make a significant upward direction shift until this uncertainty is resolved.
It is hoped that a regional crisis will not grow as a result of the anticipated Israeli reaction. The 3% decline in the price of crude oil during the last two trading sessions is indicative of this. Nifty 50 Outlook by Osho Krishan, Sr. Analyst, Technical & Derivatives, Angel One Weakening global sentiments spread pessimism to our markets, and the Nifty 50 corrected over 350 points in the last two sessions.
It had been a sentimental turnaround for the ongoing momentum as the benchmark plunged toward the 50 DEMA on the daily chart and concluded slightly below the 22,150 zone, said Osho Krishan, Sr. Analyst, Technical & Derivatives, Angel One. The formations of bearish runaway gaps in the last two sessions have not only dampened sentiments but also showcased the bears' tightening grip.
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