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Check the Market Status Before You Look For Stocks To Buy Today

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Stocks to Buy Today

Global markets were flat during the previous sessions with a potential fallout this week as Middle East tension rise. The domestic share market today is following the trend and has started on a flat note, erasing the losses of last week.

Nifty 50 , which closed at 19751.05 on Friday, today, opened at 19737.25, and is currently at 19759.60, gaining only 0.04% until 11.10 a.m. today. [Source: NSE]

Technically, this market action signals an emergence of buying from the support of 19,650 levels and placement of overhead resistance at 19,800 levels. The positive chart pattern like higher tops and bottoms is intact as per daily chart and Friday’s swing low of 19,635 could be considered as a new higher bottom of the sequence,” Nagaraj Shetti, technical research analyst at HDFC Securities said.

The sectoral indices display mixed market sentiments, with metal and PSU Bank on the top. On the contrary, the media and realty sectors are dragging the market today.

Stock Market Sectors in the Green Today

NSE Metal Sector Stocks Today

Amidst the Israel-Hamas turmoil and, threat around rising crude oil prices, the metal sector showing some potential upside in the share market today. The Nifty Metal index gained 0.62% during the first two hours of today’s market session with most of the gains coming from –

  • NMDC has gone up by 2.60% until now on the positive headwinds in the metal sector.
  • Then there is Jindal Stainless Ltd. has gone up by 1.90% today. The price rise can be attributed to the overall positive sectoral trend and most importantly to its upcoming results on the 19th of this month. The metal giant has also announced to consider interim dividends for the year 2023-24 during the meeting.
  • APL Apollo Tubes Ltd. also poured gains and surged by 1.45% until now due to the overall sector’s positive movement.

NSE PSU Bank Sector Stocks Today

Nifty PSU Bank is the second sectoral index to gain some in this volatile market. The index gained around 0.60% during the first half of today’s market session mainly driven by –

  • Canara Bank, which gained 1.92% until now following the announcement of the next board meeting on the 26th of this month. During the meeting, the financial results for the second quarter and first 6 months of the year will be revealed and investors seem positive about the same.
  • Union Bank is the next stock from this sector to gain 1.60% due to general market movement in this sector.

Stock Market Sectors in the Red Today

NSE Realty Sector Stocks Today

Even though the festive week has arrived, due to the geopolitical tension, the realty sector is down. The Nifty Realty index today fell by 0.44% until 11.44 a.m. in the share market. Major forces behind the fall include –

  • Phoenix Ltd., which has been already dragged by 4.42% following the analyst and institutional Investors call last Friday.
  • The next stock is Brigade has dragged the sectoral index by 1.15% as the overall market sentiment is sluggish.

NSE Media Sector Stocks Today

The media sector is also down in the domestic share market today. The Nifty Media index is down by 0.14% until now.

  • Hathway has lost 0.99% until now. It has its board meeting around the corner on the 17th of this month. It seems the investors do not have positive sentiments regarding its upcoming results for the second quarter and first half of the year.
  • Zee Entertainment has also dipped by 0.97% following the change in its management. It appointed Mr Deepu Bansal as the Additional Director of the company. The media house also held board meeting on 20 October 2023.

*Disclaimer Note: The securities quoted, if any, are for illustration only and are not recommendatory. This article is for education purposes only and shall not be considered as recommendation or investment advice by Research & Ranking. We will not be liable for any losses that may occur. Investment in securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL, and certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors.

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I’m Archana R. Chettiar, an experienced content creator with
an affinity for writing on personal finance and other financial content. I
love to write on equity investing, retirement, managing money, and more.

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