Indian Stock Market Trends
The Indian stock market continued its downturn for the second day on Friday, as both primary indices, Sensex and Nifty 50, dipped more than half a percent due to growing tensions between Israel and Iran, leading to a risk-averse sentiment among investors.
The Sensex fell by 573.38 points (0.70%), closing at 81,118.60, while the Nifty 50 ended 169.60 points (0.68%) lower at 24,718.60. The Bank Nifty index also saw a decline, dropping 555.20 points (0.99%) to close at 55,527.35.
For the past week, the Sensex has decreased by 1.30%, the Nifty 50 by 1.13%, and the Bank Nifty by a significant 1.86%.
Outlook for Next Week
The Nifty 50 managed to stay above the 24,700 mark, with the next support level expected around 24,500.
According to Sumeet Bagadia, Executive Director at Choice Broking, the Indian stock market’s sentiment has turned cautious. The Nifty 50 index has established a new support level at 24,000, while the immediate support at 24,500 appears at risk due to ongoing concerns regarding the Israel-Iran conflict. He noted that the market may see further weakness if the key benchmark drops below 24,500 on a closing basis.
Stock Recommendations
Bagadia has suggested three stocks to consider buying on Monday, June 16, 2025: Hindustan Aeronautics (HAL), Tech Mahindra, and Muthoot Finance.
Detailed Stock Insights
For HAL, a buy at ₹5,026 is recommended, targeting ₹5,530 with a stop loss at ₹4,780. The stock shows strong signs of recovery and bullish momentum.
Tech Mahindra is suggested for purchase at ₹1,659, with a target of ₹1,820 and a stop loss at ₹1,590, indicating a potential upward trend after a Cup and Handle pattern breakout.
Muthoot Finance is advised to be bought at ₹2,598.70, with a target of ₹2,870 and a stop loss at ₹2,460, as it indicates strong momentum after a recent breakout.
Disclaimer: The recommendations provided are from individual analysts or brokerage firms, not Mint. Investors are encouraged to consult certified experts before making investment decisions.
