Nifty50, BSE Sensex top gainers and losers: SBI, ICICI Bank are stocks to buy for short term gains, says this expert

Indian stock markets started the week on a positive note with benchmarks ending Monday in deep green. While the BSE Sensex closed at 58,410.98 and was up by over 491 points or 0.85 per cent from the Friday closing price, the Nifty50 index settled at 17311.80, up by 126 points or 0.73 points. In the 30-stock Sensex, 23 shares gained while remaining 7 were the losers. As for the 50-share Nifty50, 37 advanced and 13 declined. Technical Analyst Nilesh Jain picks four stocks among the top gainers and losers to give his startegy. He is Lead Derivative and Technical Research at Centrum Broking.      

Sensex Top Gainers:

1) SBI Technologies shares ended at Rs 543.90, up 3.20 per cent from the Friday closing price.

2) NTPC ended at Rs 168.10, up 1.88 per cent on the BSE from the Friday closing price.

3) Bajaj Finserv Shares ended at Rs 1718.80, up 1.80 per cent on the BSE from the Friday closing price.

4) ICICI Bank Shares ended at Rs 885.60, up 1.78 per cent on the BSE from the Friday closing price.

5) Axis Bank Shares ended at Rs 814.35, up 1.75 per cent on the BSE from the Friday closing price.

Sensex top Losers:

1) Larsen & Toubro Shares ended at Rs 1883.80, down 1.45 per cent on the BSE from the Friday closing price.

2) HCL Technologies Shares ended at Rs 994.75, down 0.77 per cent from the Friday closing price.

3) Wipro shares ended at Rs 375.05, down 0.60 per cent from the Friday closing price.

4) Tata Steel Shares ended at Rs 99.55, down 0.55 per cent from the Friday closing price.

5) Nestle India Shares ended at Rs 18866.10, down 0.28 per cent from the Friday closing price.

Nifty50 Top Gainers:

1) SBI Shares ended at Rs 543.20, up 3.03 per cent on the NSE from the Friday closing price.

2) Bajaj Finserv Shares ended at Rs 1723.80, up 2.10 per cent on the NSE from the Friday closing price.

3) Axis Bank shares ended at Rs 816.50, up 2 per cent on the NSE from the Friday closing price.

4) NTPC Shares ended at Rs 168.30, up 1.94 per cent on the NSE from the Friday closing price.

5) ICICI Bank Shares ended at Rs 886.50, up 1.87 per cent on the NSE from the Friday closing price.

Nifty50 Top Losers:

1) Hindalco Industries Shares ended at Rs 388.50, up 2.18 per cent from the Friday closing price.

2) Larsen & Toubro Shares ended at Rs 1884.40, up 1.42 per cent from the Friday closing price.

3) JSW Steel ended at Rs 631.95, up 1.30 per cent from the Friday closing price.

4) HCL Tech Shares ended at Rs 995.30, up 0.72 per cent from the Friday closing price.

5) Britannia Industries Shares ended at Rs 3780.05, up 0.43 per cent from the Friday closing price.

SBI: Buy | LTP: Rs 543.20 | Target: Rs 570| Stop Loss: 525 | Upside 5%

Buying is recommended at current levels and on decline, Jain said. The stock today gained by 3 per cent or Rs 16.

Bajaj Finserv: Buy | LTP: Rs 1,723.80 | Target: Rs 1760| Stop Loss: 1690 | Upside 5%

ICICI Bank: Buy | LTP: Rs 886.50 | Target: Rs 920| Stop Loss: 815 | Downside 4%

Jain said that, ICICI Bank stock may see action ahead of its Q2 result on 22 October. He recommended a buy at current levels and on declines. 

 

Hindalco Industries: Avoid | LTP: Rs 388.50 |

No fresh buying is suggested in this stock at current levels. Any move to buy must come if the stock is trading below Rs 380. He said that the stock looks strong on the charts. The stock today ended with losses of 2 per cent from the Friday closing price. 

(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)