09 Mar , 2022 By : Kanchan Joshi
The Indian stock market snapped four day losing run to close higher on Tuesday with BSE Sensex closing 581 points higher at 53,424 while NSE Nifty was up 0.95% to 16,013, overcoming bouts of volatility. Equities had opened on a weak note and tumbled further during the day amid firming oil prices and relentless selling by foreign institutional investors (FIIs).
Sun Pharma topped the Sensex gainers' chart, followed by Tata Consultancy Services (TCS), NTPC, Wipro, Tech Mahindra, Dr Reddy's, UltraTech Cement and Infosys.
In the broader market, the BSE midcap index gained 1.46% and the smallcap gauge jumped 1.33%. Nifty Bank index, financial services index , private sector bank index, auto index and pharmaceuticals index were up between 0.8% and 2% whereas the metal index fell 1.48%.
Day trading guide for stock market today
“After a sharp weakness of the last few sessions, the Nifty has rebounded convincingly to show upside bounce for the short term. The near term negative trend of Nifty remains intact and the upper levels of 16250-16400 could offer strong resistance and one may expect sell on rise opportunity ahead," said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
Stocks to buy today as recommended by analysts -
Sumeet Bagadia, Executive Director, Choice Broking
L&T Finance Holdings: Buy L&TFH, target Rs65-67, stop loss Rs60
BHEL: Buy BHEL, target Rs52.50-55, stop loss Rs47.50
Avinash Gorakshkar, Head of Research at Profitmart Securities
Cipla: Buy CIPLA, target Rs1,010, stop loss Rs950
Bharat Forge: Buy BHARATFORGE, target Rs645, stop loss Rs600
Anuj Gupta, Vice President at IIFL Securities
ICICI Bank: Buy ICICI Bank, target Rs710, stop loss Rs630
Indian Oil: Buy IOC, target Rs130, stop loss Rs108
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