Market Trading Guide: TCS, HUDCO among 5 stock recommendations for Friday – Stock Ideas

Falling for the fifth day in a row, benchmark equity indices Sensex and Nifty tumbled nearly 1% each on Thursday due to heavy sell-off in metal, consumer durables and select IT shares amid the monthly expiry of derivatives contracts.

The 30-share BSE Sensex plunged 617.30 points to settle at 73,885.60. In the five days of fall, the barometer tanked 1,532 points or 2%. The NSE Nifty dropped by 216.05 points or 0.95% to close at 22,488.65. The index has lost 479 points in the five sessions to Thursday.

“The Nifty has remained volatile during the session with predominant bearishness. The sentiment for the short term remains weak as the index slipped below the critical 21-day Exponential Moving Average (21EMA). Call writing activity was significant at 22,500. Therefore, to witness a meaningful recovery, Nifty needs to sustain above 22,500. However, failure to move above 22,500 might attract fresh selling in the market, potentially driving the index towards 22,300/22,100,” said Rupak De of LKP Securities.

Here are 5 stock recommendations for Friday: