Sat, Oct 5, 2024 3:08 PM
Market snaps 3-week run, post biggest weekly drop since 2022
A Flip by Shubhangi Gupta
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The US economy's surprising resilience challenges recession fears, as a report showed the biggest job gains in six months. This sparked market reversals and rethought interest rate bets. Small-cap companies and tech stocks led gains. Continued strong US activity data and expected rate cuts suggest a positive outlook for risk assets, despite inflation concerns.
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Sumeet Bagadia, Executive Director at Choice Broking, believes the Indian stock market trend has turned highly bearish after the biggest weekly fall in the Nifty 50 index in CY24. 💰Poonawalla Fincorp: Buy at ₹395, target ₹425, stop loss ₹380 💰BEML: Buy at ₹3664, target ₹3960, stop loss ₹3525 💰Zomato: Buy at ₹275.30, target ₹300, stop loss ₹263.
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