From Hindustan Times: 2024-05-21 10:37:40

On Tuesday, the Sensex and Nifty 50 experienced a slight decline due to losses in banking and IT stocks. The Sensex dropped 0.22% to 73,843, while the Nifty 50 fell 0.43% to 22,404.50 points. Q4 results have shown decent revenue and PAT growth. In a special trading session on Saturday, both indices closed with gains, driven by foreign capital inflows. Market experts anticipate a sharp rally post June 4th. Global economic data, including manufacturing and services PMI, will impact market outlook. The Nifty midcap hit a fresh all-time high, with expectations of challenging the 22,800 mark.

Major global indices are at life highs, despite short-term fluctuations due to election anxieties. The India VIX has cooled off after a sharp uptrend in recent weeks. The structure of higher peaks and troughs supports a revised base at 22,000. In the banking sector, the Nifty Bank index is expected to consolidate between 47,000-49,000. Top stock recommendations include buying RIL and L&T. Investors are advised to verify recommendations with certified experts before making investment decisions.



Read more at Hindustan Times: Top Stock Recommendations: Dharmesh Shah of ICICI Securities suggests buying RIL, and Larsen & Toubro today