The 30-share BSE Sensex closed 326.8 points higher at 53,234.7 while Nifty rose 0.5% to 15,835. In the broader market, the BSE midcap gauge gained 0.8% and the smallcap index climbed 0.59%. Market breadth was in favour of the bulls, with 24 of the 30 Sensex counters logging gains.
Energy, healthcare, IT, auto, metal, oil & gas were the laggards. The Nifty metals index fell as much as 3% on Monday as iron ore and steel prices tumbled on the prospects of aggressive rate hikes stoked fears of global economic slowdown.
Day trading guide for stock market today
"The short-term trend of Nifty continues to be positive with range movement. The market is now showing signs of witnessing a decisive upside breakout of the important resistance of 15900 levels in the next 1-2 sessions. A sustainable upmove above 15900-15950 is expected to pull Nifty towards the next resistance of 16300 in the short term. Immediate support is placed at 15750," said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
Stocks to buy today as recommended by analysts -
Sumeet Bagadia, Executive Director at Choice Broking
HDFC Life: Buy HDFC Life, stop loss ₹560, target ₹585-590
Power Finance Corporation: Buy PFC, stop loss ₹104, target ₹111-114
Mehul Kothari, AVP-Technical Research at Anand Rathi
Concor: Buy concor, stop loss ₹606, target ₹635
IndusInd Bank: Buy IndusInd Bank, stop loss ₹816, target ₹865
Rajesh Bhosale, Technical Analyst, Angel One Ltd
IndusInd Bank: Buy INDUSINDBANK, stop loss ₹811, target ₹867
Jubilant Food: Buy JUBLFOOD, stop loss ₹525, target ₹595
Avinash Gorakshkar, Head of Research at Profitmart Securities
Cummins India: Buy CUMMINSIND, stop loss ₹1,015, target ₹1,120
TVS Motor: Buy TVSMOTOR, stop loss ₹815, target ₹895
The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
