HDFC Bank, LIC Among Top Picks for Potential 53% Returns: Religare Broking Recommendation

Stock Market Today: Sensex and Nifty Trade Largely Unchanged

On Tuesday, 26 May, the benchmark indices Sensex and Nifty traded largely unchanged after opening lower, influenced by mixed cues from Asian markets and rising crude oil prices. The 30-share BSE Sensex initially fell 264.82 points to 76,224.14 during early trade, while the 50-share NSE Nifty slipped 27.6 points to 24,004.10. However, both indices recovered from initial losses and moved into positive territory.

Market Recovery

Later in the day, the BSE Sensex was up 44.43 points at 76,521.93, while the Nifty gained 17.20 points to trade at 24,048.85. This recovery comes on the heels of a strong rally on Monday, where the Sensex rallied 1,073.61 points, or 1.42%, to close at 76,488.96, while the Nifty climbed 312.40 points, or 1.32%, to settle at 24,031.70.

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Technical Outlook

According to Ajit Mishra, SVP, Research, Religare Broking, the Nifty may gradually inch toward the 24,400–24,600 zone in the near term. The earlier resistance zone around 23,800 is likely to act as immediate support in the event of any dip. Scheduled monthly expiries over the next two sessions and the ongoing earnings season may keep stock-specific volatility elevated.

Stock Recommendations

In light of the current market conditions, Mishra has recommended 10 stocks to buy, with an upside potential of up to 58% in the next 9-11 months.

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These stocks have been selected based on their strong growth potential, improving margins, and attractive valuations.