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The 30-share BSE Sensex jumped 388.84 points to hit a record peak of 80,375.64 in early trade. Also, the Nifty climbed 114.45 points to hit a lifetime high of 24,400.95.
Among the Sensex pack, Tata Motors, ICICI Bank, Mahindra & Mahindra, Infosys, HCL Technologies and Tata Consultancy Services were the biggest gainers.
HDFC Bank, IndusInd Bank, Adani Ports and Special Economic Zone, and Bharti Airtel were among the laggards.
Foreign Institutional Investors (FIIs) bought equities worth Rs 5,483.63 crore on Wednesday, according to exchange data.
Brokerage firm Sharekhan has picked five stocks like HDFC Bank, TCS, and JK Lakshmi, Supreme Industries, Allied Blenders which can give good returns.
Brokerage firm Sharekhan advised investors to buy stock with a time frame of more than 12 months and has set the target price of Rs 6,850 per share. The scrip ended the last session at Rs 6,089. From here, the stock can give a return of 12 per cent.
Sharekhan gave the target price as Rs 450 with a long-term perspective of 12 months. The share price was Rs 335.05 at the end of the session on July 3, 2024. From here, the stock can give a return of over 34 per cent.
Sharekhan suggested buy HDFC Bank for more than 12 months with the target price per share at Rs 1,900. The scrip ended the session on 3 July 2024 at Rs 1,768.35. From here, the stock can give a return of around 8 per cent.
Sharekhan suggested TCS stock with the target price per share is Rs 4,750. The share price on 3 July 2024 was Rs 3,964.85. In this way, the stock can give a return of around 20 per cent from the closing price.
Sharekhan suggests buying JK Lakshmi for the period of more than 12 months with the target price per share is Rs 1,100. The share price on July 3, 2024 was Rs 879.25. From here, the stock can give a return of 25 per cent.
(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.)
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