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Stocks to BUY Today: Indian markets may open lower on July 24 amid weak global cues, rising oil prices, and a Gift Nifty decline. Analysts highlight buy opportunities in IndiGo, SJS Enterprises, Pricol, UTI AMC, and HPCL.
Stocks to BUY Today: Indian equities are expected to open on a weaker note on Friday (July 24), taking cues from the weak US market close and sluggish Asian markets. Adding to the concerns, the Gift Nifty also indicated a lower opening. The weaker opening is primarily being attributed to rising oil prices.
As of 8:15 am, the Gift Nifty was down 0.9 per cent, or 210 points, at 23,653. Gift Nifty is widely regarded as a leading indicator of the Nifty 50’s opening, as its overnight trading often signals the expected direction of the Indian market at the opening bell.
Ahead of the session, SEBI-registered Research Analyst Kunal Bothra has identified 23,500 as a key support level for today’s trading session, while 24,000 is expected to act as resistance for the NSE’s benchmark index.
Despite weakness across global equity markets and Indian equities, brokerages have highlighted a few stocks that may offer trading opportunities on July 24.
Here are some of the top stock picks for today, along with their target prices:
- Citi raises target to Rs 5,800; maintains BUY rating.
- Elara Capital maintains BUY with target price of Rs 6,020.
Goldman Sachs initiates BUY rating with target price of Rs 2,850.
Goldman Sachs initiates BUY rating with target price of Rs 780.
Emkay maintains ADD rating with target price of Rs 1,200.
Emkay maintains ADD rating with target price of Rs 410.
Asian Markets Today
Asian shares slipped on Friday, led by declines in South Korea.
- South Korea’s KOSPI plunged 5.7 per cent, or 403.95 points, to 6,691.17.
- Japan’s Nikkei 225 slipped 3.2 per cent to 64,312.
- Hong Kong’s Hang Seng Index was down more than 1.2 per cent, or 320 points, at 24,889.
NSE, BSE on July 23
The Indian stock market extended its losses for the fourth consecutive session on Thursday, with benchmark indices Sensex and Nifty ending lower as oil prices surged following the US military’s completion of its 12th consecutive night of strikes on Iran.
The 30-share BSE Sensex declined 363.66 points, or 0.47 per cent, to settle at 76,391.39, dragged down by heavyweight stocks such as Reliance Industries, HDFC Bank, Bharti Airtel, and Bajaj Finance.
The 50-share NSE Nifty fell 126.65 points, or 0.53 per cent, to close at a three-week low of 23,869.60, with realty, energy, and banking stocks emerging as the biggest drags.
(Disclaimer: The above article is meant for informational purposes only and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money-related decisions.)
*List of Top Large Cap Equity Mutual Funds in India sorted by Returns
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