The Indian stock market delivered a dramatic turnaround on Friday, November 14, shaking off early losses to close in the green. The catalyst for this recovery was the stronger-than-expected performance of the National Democratic Alliance (NDA) in the crucial Bihar assembly elections.
Market Reverses Course in Final Hours
For most of the trading session, the markets struggled, mirroring the weakness seen in global peers. The benchmark indices languished in negative territory, with the Sensex hitting an intraday low of 84,029.32 and the Nifty 50 dropping to 25,740.80. However, a powerful wave of buying in the latter part of the day propelled a stunning rebound.
The Sensex staged a recovery of over 500 points from its day's low, ultimately closing 84 points higher at 84,562.78, a gain of 0.10%. Similarly, the Nifty 50 ended the day at 25,910.05, up by 31 points or 0.12%. The broader market presented a mixed picture; the BSE Midcap index dipped slightly by 0.03%, while the Smallcap index managed a marginal gain of 0.06%.
Expert View and Market Outlook for Next Week
According to Sumeet Bagadia, Executive Director at Choice Broking, the sentiment for the Indian stock market remains positive. He bases this outlook on the Nifty 50 index's ability to sustain above the key level of 25,750.
"On the upper side, the 50-stock index is facing a hurdle at 26,100," Bagadia stated. "A decisive break on either side of this range will determine the next bullish or bearish trend. Therefore, investors should maintain a stock-specific approach and focus on stocks that are showing strength on the technical charts."
Stocks to Buy on Monday
Sumeet Bagadia has recommended three stocks for investors to consider buying on Monday, November 16. His stock picks are:
- GMR Airports: Buy at ₹95.67, Target Price: ₹102.5, Stop Loss: ₹92.3
- Sagility: Buy at ₹53.28, Target Price: ₹57, Stop Loss: ₹51.4
- Motherson Sumi Wiring India: Buy at ₹48, Target Price: ₹51.4, Stop Loss: ₹46.3
Disclaimer: This article is for educational purposes only. The views and recommendations are those of individual analysts and not of the publication. Investors are advised to consult certified experts before making any investment decisions.
