Top Stock Recommendations: Osho Krishan of Angel One suggests buying Sundaram Finance, and Persistent Systems today
Stock Market News: The domestic benchmark equity indices, the Sensex and the Nifty 50 started Thursday's session in green but however traded flat-to-negative amid mixed global cues.The Sensex began 96.95 points higher at 77,434.54, while the Nifty 50 gained 21.40 points to 23,537.40.The opening levels revealed a restrained but optimistic mood among traders, with predictions of sectoral performance shaping early trading patterns.Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, believes that the present market trend is a significant sectoral churn.
Huge amounts of money are coming into attractively priced largecap banking stocks, while profit booking is taking place in sectors such as capital goods, communications, metals, and FMCG. This churn is expected to continue in the foreseeable future since it is a good trend.
The overvalued broader market area is also taking a break.Also Read: Nifty 50, Sensex today: What to expect from Indian stock market in trade on June 20Nifty 50 Outlook by Osho Krishan, Sr. Analyst, Technical & Derivatives, Angel OneTracking the positive global cues and robust undertone, our domestic market started on a firm note.
But soon after, some hesitancy was seen in the benchmark index at the elevated zone, and a bout of profit booking was seen in the initial trading hours. Despite this, the bulls showed resilience, pushing the market into uncharted territory, which too was short-lived as another bout of profit booking set in during the final hours.
Eventually, the Nifty 50 index concluded the session a tad above 23,500, with a mere loss of 0.18 percent,said Osho Krishan, Sr. Analyst, Technical & Derivatives, Angel One.Also Read: Stock market today: Nifty 50 snaps 5-day
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