Stock market snaps 3-day winning run

The Indian stock market equity indices snapped 3-day winning run on Thursday,amid caution ahead of the gross domestic product (GDP) data for the June quarter, though shares rose marginally and extended gains in the initial hours led by information technology stocks on easing rate concerns in the U.S. At close, the Sensex was down 255.84 points or 0.39 percent at 64,831.41, and the Nifty was down 93.65 points or 0.48 percent at 19,253.80.

 Stocks and Sectors

Maruti Suzuki, Cipla, HDFC Life, Titan Company and Hindalco Industries were the top gainers on the Nifty while losers included Adani Enterprises, BPCL, Adani Ports, Eicher Motors and Britannia Industries. On the sectoral front,a mixed trend was seen with oil & gas, power, FMCG and bank down 0.5-1.3 percent, while realty, metal, capital goods and information technology gained 0.2-0.7 percent.The BSE midcap index ended flat while the smallcap index rose 0.8 percent.On 31 Aug'23,the Indian rupee ended 6 paise lower to close at 82.79 against the US dollar on amid a firm American currency and rising crude oil prices.

 Experts Take:
Market experts have recommended six stocks to buy for Thursday-Asian Paints, Tata Consumer, Muthoot Finance, Shriram Finance, Surya Roshni and Mukand.

(Writer is a Finance Research Analyst, based in Gandhinagar, Gujarat)