Market expert Raghvendra Singh shared his views on select stocks, including Bajaj Housing Finance Ltd and Hyundai Motor India Ltd, on Tuesday.
Regarding Bajaj Housing Finance, Singh noted that the stock may see a reversal in the near future. He advised investors holding the stock to continue with their positions, placing a stop loss at ₹125. The stock, which was last seen trading at ₹131.30, had declined by 1.24% and has fallen about 30% from its all-time high of ₹188.45.
On Hyundai Motor India, Singh expressed optimism about the company’s growth prospects in the coming years. He recommended holding the stock and suggested adding more shares if the price drops to ₹1,600-1,700 levels. The stock was trading at ₹1,794.95, down 1.50%, reflecting a nearly 9% decline from its record high of ₹1,968.80.
Meanwhile, Indian equity benchmarks experienced sharp declines in late trading, primarily due to losses in sectors like banks, financials, consumer, automobile, and metals. On the other hand, Nifty IT and Nifty Realty bucked the trend, rising 0.47% and 0.80%, respectively.
Among the biggest losers in the Nifty pack, Britannia Industries saw a significant drop of 7.06%, trading at ₹5,050.85. Other notable decliners included HDFC Bank, NTPC, Asian Paints, and BEL, which fell by as much as 2.72%.
On the positive side, Trent, HCL Technologies, Infosys, Sun Pharma, and Reliance Industries were the top gainers in the Nifty50 index.
The overall market breadth was weak, with 2,570 declining stocks compared to 1,357 advancing stocks on the BSE. Additionally, Foreign Institutional Investors (FIIs) sold shares worth ₹2,306.88 crore, while Domestic Institutional Investors (DIIs) purchased shares worth ₹2,026.63 crore, according to exchange data.
Disclaimer: The information provided in this message is for informational purposes only and should not be construed as financial advice. Please consult with a qualified financial advisor before making any investment decisions.
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