The Indian stock market rallied on Friday after the US President Donald Trump declared a 90-day pause on 26% tariffs imposed on India. Both the benchmark indices, Sensex and Nifty 50, jumped more than 2% each amid strong buying across sectors.
The Sensex was trading 1,440.61 points, or 1.95%, higher at 75,287.76, while the Nifty 50 was up 475.95 points, or 2.12%, at 22,875.10.
Analysts believe investors can take relief from the fact that Indian macros are good and India is one of the least impacted countries in this trade war. However, caution is warranted and investors should prioritise safety over returns. According to analysts, safety now is in fairly valued large-cap stocks.
Nifty 50 surpassed the 22,900 level in intraday trade on April 11, staging a sharp reversal, showing that the bulls are in control of the stock market. Technically, the bullish momentum in the Indian stock market may accelerate once the Nifty 50 index sustains above 23,000.
Amid the rally in the Indian stock market, Jain recommends four stocks to buy. Among these stock picks, three stocks to buy are HDFC group stocks. Jain believes these stocks are technically well placed to see a decent upside.
Sandeep Pandey, Founder Basav Capital has recommended buying large-cap and mid-cap stocks and believes one should wait for some time before assuming a bull trend.
Pandey has shared a list of 10 stocks to buy, which include five large-cap stock picks and five mid-cap stock pics.
1. ICICI Bank
2. Bharti Airtel
4. Hindustan Petroleum Corporation Ltd, InterGlobe Aviation (IndiGo)
3. Amber Enterprises India / Dixon Technologies (India)
4. SRF
5. Max Healthcare Institute
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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