Stocks to BUY Today, August 5: The Indian stock market is expected to extend its gains on Wednesday (August 5), as indicated by the GIFT Nifty. As of 8:05 am, the GIFT Nifty was up 0.7 per cent, or 163 points, at 24,742.
The GIFT Nifty is a pre-market indicator for the Nifty 50 and often signals whether the benchmark index is likely to open higher, lower, or flat based on global market cues.
Ahead of the session, SEBI-registered research analyst Kunal Bothra has recommended a few stocks that could potentially generate gains for investors during today’s trading session.
Stocks to Buy
Here are the top stock picks suggested by Kunal Bothra, along with their target prices and stop-loss levels:
Stock to BUY Today |
Target |
Stop Loss |
| ABB India Ltd | Rs 7,940 | Rs 7,670 |
| Kalyan Jewellers | Rs 616 | Rs 578 |
RBI MPC in Focus
During today’s market session, investors will keep a close eye on the decisions of the Reserve Bank of India‘s (RBI) Monetary Policy Committee (MPC).
Asian Markets Today
Asian markets traded higher on Wednesday (August 5), with major indices posting gains.
Japan’s Nikkei 225 jumped around 3 per cent to 65,861. South Korea’s KOSPI traded over 3 per cent higher at 6,572.18. Meanwhile, China’s Shanghai Composite rose 0.9 per cent to 3,856.54, while Hong Kong’s Hang Seng edged 0.3 per cent higher to 25,918.00.
Stock Market on August 4
India’s benchmark indices, the Sensex and Nifty, traded on a mixed note on Tuesday following the introduction of a new closing auction mechanism for shares with futures and options (F&O) contracts.
The indices eventually ended lower, with the Sensex falling 210.08 points to close at 78,428.95, while the Nifty declined 159.40 points to settle at 24,614.90.
(Disclaimer: The above article is meant for informational purposes only and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money-related decisions.)
