Indian stock market: Indian stock market benchmarks, the Sensex and Nifty 50, ended lower for the third straight session on Friday, August 29, as worries over Trump’s tariffs and their potential economic impact continued to dampen investor sentiment.
The Sensex declined 271 points, or 0.34%, to finish at 79,809.65, while the Nifty 50 slipped 74 points, or 0.30%, to close at 24,426.85. The BSE Midcap and Smallcap indices also fell, dropping 0.41% and 0.29%, respectively.
On a weekly basis, the Sensex and Nifty 50 each slipped by nearly 2 per cent, while on a monthly scale, they were down 1.7 per cent and 1.3 per cent, respectively. This marked the second straight month of losses for both indices.
Since July, the Sensex has dropped 4.5 per cent, and the Nifty has declined 4.3 per cent.
Stock market next week
Sumeet Bagadia, Executive Director at Choice Broking believes that the Indian stock market sentiment has weakened as the Nifty 50 index has ended below 24,500.
“The key benchmark index has now immediate support placed at 200-DEMA of 24,000. So, one should maintain stock-specific approach and look at those stocks that are looking strong on the technical chart,” Bagadia added.
Stocks to buy
Sumeet Bagadia has recommended three stocks to buy on Monday, August 25. The three stock picks by Bagadia are – Rattanindia Enterprises, Jay Bharat Maruti, and Shree Digvijay Cement Co.
1] Rattanindia Enterprises: Buy at ₹61.36 | Target Price: ₹65.65 | Stop Loss: ₹59.21
2] Jay Bharat Maruti: Buy at ₹85.97 | Target Price: ₹91.98 | Stop Loss: ₹82.96
3] Shree Digvijay Cement Co: Buy at ₹97.2 | Target Price: ₹104 | Stop Loss: ₹93.79
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
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