Indian stock markets experienced a slight dip in the opening session on Friday, following a week-long rally. The Nifty 50 opened at 24,213, down by 90 points, while at 79,600, the BSE Sensex was 481 points down during the initial trading.
“Overall the markets are in their up move, but we have seen small private sector banks being bid up on good operational results and on the converse side, slightly flattish operational results from a large private sector bank are leading to a fall in the sector today,” said Ajay Bagga, Banking and Market Expert.
Among the Nifty 50 shares, 26 advanced while 24 declined in early trading. The top gainers included Cipla, Divis Lab, Bajaj Auto, Hindalco, and Hindustan Unilever. Conversely, the biggest losers were HDFC Bank, Tata Steel, Titan, Mahindra & Mahindra, and Bajaj Finserv.
Antique has downgraded the ratings from BUY to HOLD and cut in target price from Rs 1000 to Rs 840.
Nomura has maintained a Neutral rating with a target price of Rs 1660.
Jefferies has maintained a BUY rating with a target price of Rs 1880.
JPMorgan also maintained an Overweight rating with a target price of Rs 1880.
Goldman Sachs has maintained a BUY rating with a hike in target price to Rs 3700 from Rs 3600.
MOFSL suggested buy rating with a target price of Rs 7,850.
Brokerage MOFSL suggested buy rating for the stock with a target price of Rs 4,600.
MOFSL also suggested buying Bharti Airtel shares with a target price of Rs 1,680.
Brokerage MOFSL set the target price of Rs 175.
(Disclaimer: The information provided in this article is for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.)
(With Inputs From ANI)
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