The Indian stock market concluded the trading session on Friday, December 5, on a buoyant note, propelled by a dual dose of positive news from the Reserve Bank of India (RBI). Investor sentiment received a significant lift from the central bank's decision to implement a 25-basis-point rate cut, coupled with its announcement of a substantial liquidity infusion plan worth ₹1.45 lakh crore. This combination fueled a broad-based rally, driving the benchmark indices firmly into positive territory.
Market Performance and Wealth Creation
Building on the momentum from the previous session, the 30-share Sensex jumped 447 points, or 0.52%, to settle at 85,712.37. The broader Nifty 50 index followed suit, advancing by 153 points, or 0.59%, to close at 26,186.45. The market breadth, however, showed a mixed picture. While the BSE Midcap index managed a modest gain of 0.21%, the Smallcap index witnessed some pressure, dipping by 0.67%.
The surge in large- and mid-cap stocks had a direct impact on overall investor wealth. The total market capitalisation of companies listed on the Bombay Stock Exchange (BSE) swelled to nearly ₹471 lakh crore, marking an increase from approximately ₹470 lakh crore in the prior session. This translates to an addition of roughly ₹1 lakh crore to investors' wealth in a single day.
Expert Outlook for the Coming Week
Market analysts believe the positive sentiment could extend into the next week. Sumeet Bagadia, Executive Director at Choice Broking, stated that the market mood is optimistic as the Nifty 50 has surged close to the 26,200 mark. He identified a key immediate hurdle for the index at the 26,300 level.
"On breaking this hurdle on a closing basis, the 50-stock index may soon touch 26,500 and 26,800," Bagadia commented. He advised investors to maintain a stock-specific approach and focus on scrips that are exhibiting strength on technical charts.
Stocks to Buy on Monday, December 8
Bagadia has recommended three stocks for investors to consider buying on Monday, December 8. His picks, along with specified target prices and stop-loss levels, are:
- SBC Exports: Buy at ₹27.59, Target Price: ₹29.8, Stop Loss: ₹26.65
- Atal Realtech: Buy at ₹24.15, Target Price: ₹26, Stop Loss: ₹23.3
- IDFC First Bank: Buy at ₹80.87, Target Price: ₹87, Stop Loss: ₹78
Disclaimer: This article is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies. Investors are strongly advised to consult with certified experts before making any investment decisions.
