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Motilal Oswal recommends buying these three stocks – TVS Motor, BHEL, and more – in their weekly picks

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Weekly picks: From TVS Motor to BHEL, Motilal Oswal suggests these three stocks to buy this week

The Indian stock market indices, Nifty 50 and Sensex, soared to new all-time highs on Tuesday. The Nifty 50 hit a record high of 24,443.60, while the Sensex reached a peak of 80,397.17 during the trading session. By the end of the day, the Nifty 50 closed at 24,433.20, up by 113 points or 0.46%, and the Sensex finished at 80,351.64, rising by 391 points or 0.49%.

According to Siddhartha Khemka, Head – Retail Research at Motilal Oswal Financial Services Ltd, the positive trend in the market was supported by buying in sectors such as Auto, Consumer Durables, Pharma, and PSU Bank. The rally was also fueled by fresh buying in PSU Banks following a drop in the 10-Year bond yield to a 3-month low. Market participants are now looking towards US Fed Chair Powell’s speech for further cues, as well as upcoming inflation data, Q1FY25 earnings, and the budget.

Additionally, brokerage firm Motilal Oswal has recommended three stocks to buy this week with potential growth of over 7%. The recommended stocks include TVS Motor, ONGC, and BHEL.

TVS Motor is currently in an uptrend and showing positive momentum indicators, making it a favorable investment opportunity. ONGC is on the verge of a breakout on both weekly and daily scales, indicating a potential upward move. BHEL, on the other hand, is consolidating near its higher band and may see a resurgence in the coming weeks.

Investors are advised to conduct thorough research and consult with financial experts before making any investment decisions, as market conditions are subject to rapid changes.

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