The NSE Nifty 50 and BSE Sensex fell at open as HDFC Bank Ltd. dragged. Losses in Asian share indices on rising tension between the US and China on the trade front also pressured Indian benchmarks.
The Nifty 50 was trading 118.25 points or 0.47% down at 24,623.70, and the Sensex was trading 414.38 points or 0.51% lower at 81,036.63 as of 10:46 a.m.
HDFC Bank Ltd., Infosys Ltd., Larsen & Toubro Ltd., and Tata Consultancy Services Ltd. weighed on the Nifty 50.
Hindustan Unilever Ltd., Eternal Ltd., Apollo Hospitals Enterprise Ltd., Adani Ports and Special Economic Zone Ltd., and Bharat Electronics Ltd. cushioned the fall.
Amid the uncertainties of the market, Vaishali Parekh, vice president, technical research, Prabhudas Lilladher Pvt.Ltd recommends buying these stocks:
Dabur India
Parekh suggests buying the stock at Rs 484 apiece with a target price of Rs 500 apiece. She advises booking losses at Rs 476 apiece.
Out of 42 analysts tracking the stock, 15 recommend buying the stock, 19 recommend holding it and eight suggest selling the stock.
Hindustan Construction Company
Parekh suggests buying HCC at Rs 34 apiece, with losses booked at Rs 32 apiece with a price target at Rs 40 apiece.
The one analyst tracking the stock recommends buying it. The 12-month consensus target price implies an upside of 2.5%.
Welspun Corp.
She suggested buying the stock at Rs 932 apiece, with a target price of Rs 960 apiece and stop loss at Rs 920 apiece.
Six out of nine analysts tracking the stock recommended buying it and three suggested holding it.
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