Tue, Aug 16, 2022 4:51 PM
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A Flip by Gaurav
Equity indices ended lower on Tuesday as a fag-end sell-off wiped out early gains amid a mixed trend in global markets. The 30-share Sensex declined 188 points to settle at 74,482 and the Nifty dipped 38 points to finish at 22,604. Stocks that were in focus include names like Star Health, which rose 1.69%, M&M, which increased 4.63%, and Tata Chemicals, whose shares declined 2.49% on Thursday.
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General elections are feared to induce sharp swings in equities. ET spoke to four analysts on whether the seasonality factor of the 'Sell in May' adage could be valid this time. While volatility is anticipated, these analysts do not see a disruption in the recent bullish trend. They expect bank stocks to drive the market, while advising against leveraged bets in equities for now.
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💰Nuvama has downgraded its rating on Kotak Mahindra Bank to 'reduce' with a target of ₹1,530 per share. 💰UBS has maintained a 'buy' rating on Havells with a target of ₹2,040 per share. 💰Jefferies has maintained a 'hold' rating on Kotak Mahindra Bank with a target of ₹1,970 per share. 💰DAM Capital has upgraded its rating on M&M to 'buy' with a target of ₹2,550 per share.
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