Stock Market Live: Indices trading flat, Best stock to buy now
Stock Market Live Today 20 Feb 2023: Indian stock markets opened higher on Monday amid mixed global cues. The Nifty index opened at 17965.55 levels, up by 63.05 while the Sensex made a positive opening of 110.27 points at 61112.84 levels. The domestic market indices are now trading volatile in a tight range and are struggling for a direction.
Adding some optimism in the markets, the Federation of Indian Export Organisations (FIEO) said India`s exports are expected to grow by 3-5 percent to $435-445 billion in this fiscal. Meanwhile, the rupee gained 16 paise to 82.66 against the U.S. dollar in early trade as the American currency retreated from its elevated levels.
Stock Market Live Today
Stock Market Live at 12 pm IST, the Indian stock market indices, Sensex and Nifty are trading flat at this moment, Nifty is trading lower by 0.09 percent while Sensex is up by 0.01 percent. The Bank Nifty is down by 0.45 percent at 12 pm IST. The broader markets are trading higher now, as Nifty midcap and smallcap indexes are trading higher by 0.26 percent and 0.12 respectively.
Among the sectors, Nifty IT, Auto, and FMCG are trading higher whereas Pharma, PSU Bank, and Metal are trading in the red. The top Nifty 50 gaining stocks at this time are Tech Mahindra, Ultratech Cement, and Divis Lab and the losing stocks are Adani Enter, Cipla, and Adani Ports.
Stocks in News Today
RITES has bagged a new EPC work of Rs 76.08 crore for the provision of EI-based automatic signaling with continuous track circuiting and other associated works. The share price of RITES is trading higher by 0.45% at Rs 338 per share.
Power Grid Corporation of India is declared as the successful bidder under tariff-based competitive bidding to establish an inter-state transmission system for various projects on a build, own operate and transfer (BOOT) basis. The share price of Power Grid Corporation is trading higher by 1.26% at Rs 216 per share
Shares of Dilip Buildcon rose nearly 4 percent and trading on February 20 after the company bagged an order worth Rs 1,947.06 crore. The company stated that they received a letter of acceptance for a project from Madhya Pradesh Jal Nigam Maryadit, Bhopal.
The project will be undertaken by Dilip Buildcon Limited-Skyway Infraprojects Pvt Ltd (DBL-SIPL JV) and will be completed in 24 months. The share price of Dilip Buildcon is trading higher by 0.72% at Rs 209 per share
Best stock to buy now for the medium term
Prabhudas Lilladher has suggested HAL- as the best stock to buy for the medium term on a technical basis. The stock after taking support near the Rs 2300 zone has picked up well to move past the significant 50EMA level of Rs 2500 to improve the bias and has indicated strength on the daily chart anticipating further rise.
A short dip from the peak level is witnessed, but the overall trend is maintained positive, and with the RSI also well placed has shown immense upside potential to carry on with the momentum further. Prabhudas Lilladher has recommended to buy the stock now for an upside target of Rs 2850 keeping a support level of Rs 2480. The share price of HAL is currently trading lower by 1.31% at Rs 2604
Also, read Best Stock Market Books You Must Read-2023
Trade Setup for Monday 20 Feb: Stock Market News
If you like the post “Stock Market Live: Indices trading flat, Best stock to buy now” please share it with others
Happy Investing!
Editor’s Desk
