PC: aajtak
After a sharp fall on Friday, the Indian stock market opened with a decline on Monday and remained under pressure throughout the day. Expectations for continued market growth were high on Monday, but the conflict between Israel and Hamas had a negative impact on market sentiment.
At the close of trading on Monday, the Sensex fell 0.73% or 483.24 points to 65,512 points, while the Nifty fell 0.72% or 141.15 points to close at 19,512 points. The fall in the market particularly affected midcap and smallcap stocks, while some fundamentally strong stocks also got hit. Despite this, some stocks are seen as good long-term investment opportunities.
Here are three such stocks recommended by Sunil Bansal, MD, Rudra Shares & Stocks Brokers Ltd, that can be considered for investment during this market downturn:
PC: Mint
1. IRFC Limited: IRFC Limited is the first stock in the list. On Monday it saw a decline of more than 5%. Currently, the stock is trading at Rs 71. In the last year, it has delivered an impressive return of 232%. However, the stock has seen a decline of 16.05% in the last month. The 52-week high of this stock is Rs 92.35. Sunil Bansal suggests that this stock has the potential to give good returns in the long term.
2. PNB: Despite PNB stock falling 4.69% on Monday, Sunil Bansal sees it as a promising option at the current price. The stock's 52-week high is Rs 83.50, and it is currently trading at Rs 73.15. There is optimism about the stock's potential to perform well in the long term.
PC: Business Today
3. NMDC: Shares of NMDC are currently trading at Rs 142.75. Experts believe that this stock has the potential to give good returns to investors in the coming years. The stock's 52-week high is Rs 154.25, and it saw a decline of 2% on Monday.
