Indian headline indices ended higher on Wednesday while maintaining their four-session winning streak amid strong buying trends in banks and financial stocks. Individually, HDFC Bank was the top contributor to indices’ gains. While the S&P BSE Sensex settled at 80,956.33, up by 110 or 0.14%, the broader Nifty50 closed at 24,467.45, higher by 10 or 0.04%.
Commenting on the day’s action, Jateen Trivedi, Senior Technical Analyst at LKP Securities attributed Nifty’s choppy trade to investors caution ahead of the RBI monetary policy announcement on Friday. “The index managed to close above the crucial level of 24,420. On the downside, support is placed at 24,350, while on the upside, it could move toward 24,700, where it may encounter initial selling pressure. A decisive move above 24,700 could trigger a continuation of its upward momentum. Conversely, a fall below 24,350 could weaken market sentiment,” De said.
Here are 8 stock recommendations for Thursday:
