Indian Markets Tumble Amid Global Concerns; Experts Suggest Select Buys
Indian benchmark indices experienced a significant downturn on Friday, reversing gains from the previous session. The Sensex plummeted 1.4% to 78,918.90, while the Nifty 50 fell 1.3% to 24,450.45.
- Key Factors: Profit booking, US-Iran tensions, rising crude oil prices, and foreign capital outflows contributed to the decline.
- Expert View: Anand Rathi’s Mehul Kothari notes the market is in a corrective phase but maintains a long-term bullish outlook.
- Stock Picks: Kothari recommends “buy” ratings for Jammu and Kashmir Bank, Ircon International, and Finolex Industries, advising specific entry points, targets, and stop-loss levels.
