Indian Stock Market Update

Key Benchmark Indices Close Higher

Despite trimming intraday gains, the Nifty 50 and BSE Sensex indices finished higher on Friday. The Nifty 50 index added 112 points and closed at 23,114, while the Bank Nifty index ended 325 points higher at 74,532.

Sectoral Performance

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The Dalal Street breadth remained positive, with most indices ending in the green. Telecom, IT, metals, pharma, and PSU Bank stocks led the gains, rising 1-2%. In contrast, media, private bank, and realtiy sectors ended in the red. The Nifty mid-cap index rose 0.6%, indicating continued participation in the broader market, while the small-cap index ended flat, reflecting relatively muted activity.

Market Outlook

According to Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher, the Dalal Street undertone is cautiously positive. The Nifty 50 index has shown some resilience near the 22,900 zone and would need to sustain the support zone in the coming sessions to avoid further worsening of the trend.

Stock Recommendations

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Vaishali Parekh recommended the following buy-or-sell stocks for intraday trading:

• BHEL: Buy at ₹262, Target ₹275, Stop Loss ₹256
• Northern ARC Capital: Buy at ₹234.25, Target ₹247, Stop Loss ₹228
• Avalon Technologies: Buy at ₹951.90, Target ₹990, Stop Loss ₹930

Global Developments

The ongoing US-Iran war has escalated, with Iran and the allied Lebanese militant group Hezbollah stepping up attacks on Israel. The Strait of Hormuz, crucial to oil and other exports, has been threatened by Iran, which could have significant implications for global markets.