Indian bourses ended in the green on Tuesday with the BSE Sensex closing at 58,065.47, up 1,276 points or 2.25 percent. Meanwhile, the 50-share Nifty50 settled at 17274.30, up 387 points or 2.29 percent. In the 30-share Sensex, 27 ended in the green while 3 traded in the red at the close. Forty-eight Nifty50 stocks advanced while the remaining two declined. Market expert Nilesh Jain picks two stocks, one of the top winners and one of the top losers to suggest strategy to investors. The stocks are Bajaj Finance and Dr Reddy’s Laoratories.
Top Sensex Losers:
1) Shares of Indusind Bank ended at Rs 1,217.30, up 5.29 percent from Monday’s closing price.
2) Bajaj Finance shares ended at Rs 7475, up 4.23 percent on the BSE from Monday’s closing price.
3) TCS shares ended at Rs 3,092.50, up 3.58% on the BSE from Monday’s closing price.
4) Shares of Bajaj Finserv ended at Rs 1,701.50, up 3.37 percent on the BSE from Monday’s closing price.
5) Shares of HDFC ended at Rs 2,350.55, up 2.96 percent on the BSE from Monday’s closing price.
Top Sensex Losers:
1) Shares of the power utility ended at Rs 208.50, down 1.07% on the BSE from Monday’s closing price.
2) Shares of Sun Pharmaceuticals ended at Rs 942.25, down 0.25 percent from Monday’s closing price.
3) Shares of Dr Reddy’s Laboratories ended at Rs 4412, up 0.18 percent from Monday’s closing price.
Nifty50 Top Gainers:
1) Shares of Indusind Bank ended at Rs 1,217, up 5.25 percent from Monday’s closing price.
2) Shares of Adani Ports ended at Rs 825.30, up 5.21 percent from Monday’s closing price.
3) Bajaj Finance ended at Rs 7480.50, up 4.30 percent from Monday’s closing price.
4) Shares of Coal India ended at Rs 223.70, up 4.07% from Monday’s closing price.
5) TCS shares ended at Rs 3,097, up 3.75 percent from Monday’s closing price.
Top Nifty50 Losers:
1) Shares of the power utility ended at Rs 208.80, down 0.95% from Monday’s close.
2) Shares of Dr Reddy’s Lab ended at Rs 4,414.30, up 0.13 percent on the NSE from Monday’s closing price.
Bajaja Finance: Buy at 7300| LTP: Rs 7475| Target: Rs 7900| Stop Loss: Rs 7100| up 6%
The stock ended up 4.23 percent on Tuesday or up 403 points from Monday’s closing price. The gains are significant, Jain said, adding that stocks should be bought on dips. The stock closed at 7475 on the BSE today. He said the risk-reward ratio is more favorable at levels around Rs 7300.
Source: EEB – Share price movement over 3 months
Dr Reddy’s Lab: Buy at 4350 | LTP: Rs 4412| Target: Rs 4500/5000| Stop Loss: Rs 4200 | up 14%
The stock ended the day at 4412.00, down Rs 8.15 or -0.18 percent from its previous closing price. Jain is bullish on pharma stocks and sees this large-cap stock doing well in the short term. He sees a buy opportunity in this stock with a target price of Rs 4500. He said that there will be a big stop once it breaches this level to further increase Rs 4800-5000. It is recommended to buy on sale.
Source: EEB – Share price movement over 3 months
He also recommends avoiding Power Grid stocks.
(Disclaimer: The opinions/suggestions/advice expressed here in this article are solely those of investment experts. Zee Business suggests its readers to consult their investment advisors before taking any financial decision.)
