Thu Dec 05 14:00:00 UTC 2024: ## Indian Stock Markets Continue Winning Streak, Driven by Banking Sector

**Mumbai, India** – India’s benchmark indices extended their winning run for a fourth consecutive day on Wednesday. The Nifty 50 index closed at 24,467.45, up 0.04%, while the Sensex gained 0.14%, ending at 80,956.33. The Bank Nifty led the gains, surging 1.10% to 53,266.90. Realty, Pharma, and Healthcare sectors also performed strongly. However, FMCG, Metals, Auto, and Oil & Gas sectors experienced declines. Mid and small-cap indices also saw gains of nearly 1% each.

Analysts remain cautiously optimistic. Shrikant Chouhan of Kotak Securities identified key support and resistance levels for the Nifty and Sensex, suggesting potential further upward movement if certain levels are maintained. Hrishikesh Yedve of Asit C. Mehta Investment Intermediates Ltd. pointed to the importance of the Bank Nifty staying above 52,500 for further gains. Siddhartha Khemka of Motilal Oswal Financial Services attributed the positive momentum to government policies and anticipated increased liquidity from upcoming RBI decisions.

Market watchers are closely monitoring the upcoming comments from Federal Reserve Chair Jerome Powell and US jobs data due out Thursday.

**Analyst Stock Picks:**

Several analysts offered stock recommendations:

* **Computer Age Management Services (CAMS):** Buy at ₹5181.75, stop loss at ₹4990, target ₹5500 (Sumeet Bagadia, Choice Broking).
* **Federal Bank Ltd:** Buy at ₹215.44, stop loss at ₹207, target ₹229 (Sumeet Bagadia, Choice Broking).
* **Bharat Dynamics Ltd:** Buy around ₹1220, stop loss at ₹1180, target ₹1265 (Ganesh Dongre, Anand Rathi).
* **Vedanta Ltd:** Buy at ₹468, stop loss at ₹460, target ₹485 (Ganesh Dongre, Anand Rathi).
* **GAIL India Ltd:** Buy at ₹207, stop loss at ₹200, target ₹218 (Ganesh Dongre, Anand Rathi).

**Disclaimer:** These recommendations are from individual analysts and not from Mint. Investors should conduct their own research or consult with financial advisors before making investment decisions.

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