On October 13, the Indian market continues to remain in the uncharted territory. On October 13, the market saw a fresh record closing high. Indian markets have outperformed their global peers. In yesterday’s trade, the Sensex closed at 60,700 with a gain of 450 points. At the same time, Nifty closed at 18,150 with a gain of 170 points.
Auto, IT, metals, FMCG and select banking stocks supported the market in yesterday’s trade in association with Reliance. There was mixed business in the broader market. Nifty Midcap closed with a gain of 1.5 per cent yesterday. Same, Smallcap closed flat.
Talking about today’s business, the bulls are making a record flurry in the market. Nifty, Sensex, Bank Nifty and Midcap have again made a new high, Sensex has crossed 61 thousand for the first time and Nifty has crossed 18300. Midcap stocks have also run heavily. Today there is a strong rally in realty stocks. The Nifty Realty Index is looking at historic highs with a jump of 2%. GODREJ PROP, DLF, INDIABULLS REAL is seeing a rise of 3 to 8%.
The enthusiasm of IT stocks is also high due to good results. INFOSYS is trading with a gain of 5% near the all-time high. WIPRO and MINDTREE are also at their all-time high.
Metal stocks are seeing a sharp rise. The Nifty Metal Index is seeing a jump for the sixth consecutive day. It has run around 7 percent this week. Today VEDANTA, HIND COPPER and HIND ZINC have jumped 4%. Cement stocks are also gaining momentum. The news of increase in cement prices in South India has given a boost. India Cements, Grasim, ACC, Ramco Cements have seen a jump of 3 to 9 per cent.
There was a strong rise in the shares of Tata Group in yesterday’s trading. Tata Motors touched a record level of 523.85 in intraday yesterday and finally closed at 506.90 with a gain of 20.45 percent. Similarly, Tata Chemicals touched a record high of 1,144.30 yesterday and finally closed at 1,144.30 with a gain of 14.04 per cent. The stock was the biggest gainer in the F&O segment yesterday.
Mahindra & Mahindra also saw a rise yesterday. Yesterday it touched the level of 971.15 in intraday. At the end of trading, it closed at Rs 935.35 with a gain of 5.08 per cent. BHEL had also gained 8 per cent yesterday and closed at 76.25 level.
Let’s know what is the opinion of Gaurav Sharma of Globe Capital Markets now on these stocks
Gaurav Sharma says that there is a strong uptrend in this stock. But a purchase should be made only on a downside. Those who have this share, they should stay for the target of 600 rupees. This target can be achieved by the end of November.
BHELNow after a lot of rally in BHEL, profit recovery cannot be ruled out. In such a situation, buy in this stock if there is a fall. By the end of this year, the level of Rs 90-95 can be seen in this stock.
Mahindra & MahindraM&M is nearing its life time high. If you know above Rs 1,000, there can be a new rise in this stock. In the medium near term, this stock can go up to Rs 1,100-1,200. Buy this stock after breaking the psychological resistance of Rs 1000.
This stock is also expected to remain bullish. In the immediate near term, this stock may look to move towards Rs 1,200. After that the level of 1500 rupees is also possible in it. It is advisable to hold this stock for medium to long term.
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