Indian benchmark equity indices closed higher on Friday led by IT stocks, after firm U.S. economic data allayed fears of a recession in the world’s largest economy. The S&P BSE Sensex closed 1.68% higher at 80,436, while the NSE Nifty50 index ended above the 24,500 level.”In the near term, Nifty may continue consolidating within the 24300-24550 range. Only a decisive move above 24550 could trigger a directional up move in the index. A buy-on-dips strategy may be more effective unless Nifty decisively falls below 24300,” said Rupak De of LKP Securities.Here are 8 stock recommendations for Monday:
Banks unlikely to reduce deposit rates despite RBI easing
Following the latest repo rate decrease, bankers foresee only slight adjustments to deposit rates. The landscape, characterized by sluggish savings yields and elevated credit-deposit ratios,