Stock recommendations for 7 August from MarketSmith India
Stock market recap, Aug. 7 -- Indian equities traded in a narrow range on 6 August as positive domestic macroeconomic signals offset persistent foreign fund outflows and weak global cues.
Sentiment was underpinned by the Reserve Bank of India's (RBI) decision to raise its FY27 GDP growth forecast to 6.7% while lowering its inflation projection to 5%. Softer Brent crude prices, which slipped towards $78 a barrel, also supported buying in heavyweight sectors such as oil and gas, pharmaceuticals and infrastructure.
However, gains remained capped by continued foreign institutional investor (FII) selling, with FIIs offloading Rs.943.42 crore in the cash market, even as domestic institutional investors (DIIs) bought shares worth Rs.2,883.17 c...
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