Sensex, Nifty50 top gainers and losers: Buy Hindalco for short term gains; Sell Divi’s Lab

Metal stocks took the spotlight today and Hindalco Industries was one of the biggest beneficiaries in the large cap pack. The counter gained nearly 5 per cent to finish at Rs 430. The stock still has 7 per cent upside in the near term, said technical analyst Simi Bhaumik

Sensex, Nifty50 top gainers and losers. Source. Source: IANS

Domestic markets broke their two-day losing streak and ended Friday on a high note. BSE Sensex closed at 60,950.36, up 113.95 points or 0.19 per cent while Nifty50 managed a closing above the 18000 mark. The index ended at 18,117.15, higher by 64.45 points or 0.36 per cent.

In the 30-share Sensex, 18 stocks closed in the green against 12 losers. In the 30-stock Nifty50, there were 28 advances and 22 declines.

Source: NSE

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Source: BSE

INDIA VIX, a gauge of volatility was down by 1.80 per cent to 15.66.

Bank Nifty closed with minor losses at 41,258.45, down by 0.10 per cent or 40 points.

Out of the 15 sectoral indices, 7 were in the red against 9 gainers. The top laggards were Nifty Pharma (-1.02 per cent) and Nifty Healthcare Index (-1.03 per cent). Nifty Metal Index took the limelight appreciating by over 4 per cent today. Nifty Media and Nifty Realty were other top per formers gaining nearly 1 per cent each.

There was mixed action in broader markets with Nifty Mid Cap 100 closing down 0.25 per cent at 31,707.90. Nifty Small Cap 100 finished at 9,755.70, up 0.37 per cent.

Stock Market HIGHLIGHTS: Sensex, Nifty break 2-day losing streak; Hindalco, Bajaj Finserv among top gainers

Hindalco: Buy | LTP: Rs 430 | Target: Rs 450 | Stop Loss: Rs 420 | Upside 7%

Metal stocks took the spotlight today and Hindalco Industries was one of the biggest beneficiaries in the large cap pack. The counter gained nearly 5 per cent to finish at Rs 430. The stock still has 7 per cent upside in the near term, said technical analyst Simi Bhaumik. Buying is recommended in this stock for targets of Rs 440 and Rs 450.

Divi’s Lab: Sell | LTP: Rs 3743 | Target: Rs 3650| Stop Loss: Rs 3780 | Downside 3%

Bhaumik recommends a Sell in this stock citing a weak chart structure. The stock was one of the biggest losers in Nifty50 and was down nearly 1 per cent at the market closing time.

(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)

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