The Indian stock market staged a powerful recovery on Wednesday, November 26, erasing the losses from its three-day decline and delivering substantial gains to investors. The rally was fueled by widespread buying activity and a positive mood in global markets.
Market Regains Momentum
Breaking its losing streak, the Sensex surged by 1,023 points, or 1.21%, to close at 85,609.51. Mirroring this upward trend, the Nifty 50 index advanced by 321 points, or 1.24%, finishing the session at 26,205.30. The bullish sentiment was not limited to the large-cap indices. The BSE Midcap index rose by a healthy 1.32%, and the Smallcap index also climbed, ending 1.23% higher.
This broad-based rally had a direct and impressive impact on investor wealth. The total market capitalisation of companies listed on the BSE jumped to nearly ₹475 lakh crore, a significant increase from the ₹469 lakh crore recorded on Tuesday, November 25. This translates to an addition of roughly ₹6 lakh crore in a single trading day.
Expert Outlook and Stock Picks
Sumeet Bagadia, Executive Director at Choice Broking, commented on the market's positive shift. He noted that the Nifty 50 index demonstrated a strong turnaround from the 25,850 level, propelling it to 26,200. According to his analysis, the market sentiment has turned optimistic.
"The key index is looking set to touch 26,500 and 27,200 in the near term," Bagadia stated. "So, one should maintain a stock-specific approach and look at those stocks that are looking strong on the technical chart. Looking at breakout stocks can be a good option."
Breakout Stock Recommendations for Today
Based on this positive technical setup, Sumeet Bagadia has recommended five breakout stocks for traders and investors to consider. The recommendations include buy levels, price targets, and stop loss figures to manage risk.
- Pearl Global Industries: Buy at ₹1750, target ₹1875, stop loss ₹1688.
- Kilburn Engineering: Buy at ₹590, target ₹635, stop loss ₹570.
- Vishnu Chemicals: Buy at ₹542, target ₹580, stop loss ₹520.
- Lumax AutoTechnologies: Buy at ₹1505, target ₹1620, stop loss ₹1450.
- Safari Industries (India): Buy at ₹2492, target ₹2666, stop loss ₹2400.
Disclaimer: This news article is intended for educational purposes only. The views and stock recommendations mentioned above are those of individual analysts and broking companies, and not of Mint. Investors are strongly advised to consult with certified financial experts before making any investment decisions.
