Fertilizer & Cement Stocks Rose, Sensex crossed 60,000 after November 18
Image Credit: Money Control
The stock market continues to rise for the fourth day as well. Due to the rise in fertilizer and cement stocks, the Sensex has once again crossed 60,000. After 18 November 2021, the Sensex has crossed 60,000. The market is currently at a 7 week high.
Experts say that Sensex and Nifty have taken a hit due to the return of buying by foreign investors. The effect of this is also visible on the movement of the rupee. Investors should work on the strategy of buying good stocks on the downside.
BSE
Image Credit: Khaleej Times
The market has gained momentum due to the return of buying in banking, auto stocks. At the same time, profit-booking is now seen in the shares of FMCG and IT companies.
According to the latest SEBI report, so far in January, foreign investors (FIIs -Foreign Institutional Investors) have bought Rs 2176 crore. 902 crores on January 3 and Rs 1273 crores on January 4. Apart from this, domestic investors have bought shares worth Rs 1336 crore during this period. 803 crores have been invested on 3rd January and 533 crores on 4th January.
Bandhan Bank
Image Credit: The Indian Express
Many big brokerage houses have given mixed advice on banking stocks. In the latest report of brokerage house Goldman Sachs, a target of Rs 440 has been set on Bandhan Bank share. At the same time, it has been told in the report that increasing collection in microfinance companies is a good sign.
Another brokerage house Jefferies has given a buy on ICICI Bank. The target of the share has been fixed at Rs 1000. It has been said in the report that after the recent fall, the stock has come to a good level. The bank's NIM is expected to increase in the coming days.
CLSA has given sell advice on Bandhan Bank. The target of the share has been fixed at Rs 245. The report says that the collection trade is strong, which is positive for the bank. But they are cautious about the impact of Covid on MFI assets.
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