Stock Recommendations for Monday — June 10

The Indian stock market witnessed a significant surge on Friday, with both the Sensex and Nifty 50 reaching new highs. The Nifty 50 closed up 2.05% at 23,290.15 points, while the Sensex rose 2.16% to 76,693.36. This positive momentum comes after the general elections, where Narendra Modi’s alliance secured a narrow victory.

In addition to the market rally, the Reserve Bank of India raised its GDP growth forecast for the current fiscal year to 7.2% from 7%, indicating a positive outlook for the economy. The US economy also showed strength, with more jobs added than projected in May and an increase in annual wage growth.

Looking ahead, key factors to watch include the US Fed interest rate decision, the movement of the rupee against the dollar, crude oil prices, and commodity prices. Analysts recommend keeping a close eye on investments by foreign portfolio investors (FPIs) and domestic institutional investors (DIIs) for further market insights.

For investors looking to buy or sell stocks on Monday, June 10, analyst Sumeet Bagadia recommends three stocks: Tech Mahindra Ltd, UltraTech Cement Ltd, and Dr Reddy’s Laboratories Ltd. Each stock has shown positive technical indicators and potential for upward movement, making them attractive options for investors.

Overall, the market outlook remains positive, with opportunities for investors to capitalize on the current bullish momentum. It is advisable for investors to stay informed and consult with experts before making any investment decisions.