SBI, HCL Tech, Eicher Motors: Top 3 stock picks by Sumeet Bagadia
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Indian stock market indices staged a strong rebound on Friday, October 9, ending an eight-week losing streak.
- ✓Sumeet Bagadia of Choice Broking recommended buying SBI, HCL Tech, and Eicher Motors.
- ✓He said, “Immediate support is placed at 22,250–22,400, while 22,650–22,700 remains the key resistance zone.” Markets showed recovery despite high oil prices.
Story at a Glance
- Category
- MARKET
- Reported By
- Livemint
- Reading Speed
- 4 Minute(s)
- Market Focus
- India Economy
Stocks to buy | Sumeet Bagadia's stock recommendations: The key benchmark indices of the Indian stock market staged a strong rebound on Friday, October 9, bringing an end to the Nifty 50 and Sensex’s eight-week losing streak. The Nifty rose 1.30%, while the Sensex advanced 1.23%. Bank Nifty also recovered, gaining 1.36%. The rally was led by IT stocks following Tata Consultancy Services’ September-quarter results, with buying extending to FMCG, auto and financial shares.
The macroeconomic backdrop remains challenging. Brent crude continued to trade above $100 a barrel, while WTI remained above $90. Comments from the US president on discussions with Iran offered some temporary relief, but tensions around the Strait of Hormuz and concerns over regional energy infrastructure have kept the risk of supply disruptions elevated. For India, persistently high oil prices pose risks to inflation, the import bill and the rupee.
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