Stocks to buy on 17 April: The main domestic stock indices closed slightly lower on Thursday, April 16, as investors took profits after significant recent increases, even as global markets climbed for the 10th consecutive day to reach record levels due to optimism about a potential resolution to the Middle East conflict.
The decreased by 0.14% to 24,196.75 points, while the dropped by 0.16% to 77,988.68. Earlier in the day, the indices had increased by approximately 0.8%, building on a 1.6% rise in the prior session.
Out of 16 major sectors, six ended the day in the red, whereas the broader small-cap and mid-cap indices rose by 0.9% and 0.6%, respectively.
Investors are optimistic that the conflict in the Middle East may soon be resolved, as a significant Pakistani mediator is in Tehran and officials from President Trump’s administration are expressing optimism about a potential agreement to reopen the largely closed strait.
On Thursday, Brent crude increased by 1.6%, reaching $96 per barrel and remaining below $100 per barrel for the eighth consecutive session. Decreased crude prices benefit countries that import the commodity, like India.
What Gift Nifty live chart signals?
The Gift Nifty Live Chart is showing a flat start for the Indian stock market today. By 7:33 AM, the Gift Nifty was trading around 24,178.5 level, a discount of 17 points from the Nifty futures’ previous close of 24,195.80
Decoding the impact of Gift Nifty live chart and other triggers on Dalal Street, Ponmudi R, CEO of Enrich Money said that Indian markets are likely to open on a flat to mildly cautious note, with Gift Nifty indicating a subdued start despite strong cues from the US. The divergence in global markets is becoming more pronounced. While US indices continue to scale record highs, supported by optimism around easing geopolitical tensions, Asian markets have opened lower, reflecting a more cautious interpretation of the same developments.
Wall Street extended its rally, with the S&P 500 and Nasdaq closing at fresh highs on the back of improving sentiment around a potential resolution in the Middle East. Reports of a temporary ceasefire between Israel and Lebanon have added to optimism, with expectations that this could pave the way for renewed US Iran negotiations. However, Asian markets appear less convinced, trading lower as investors remain wary of how durable these developments are, especially given the fragile nature of geopolitical agreements in the region.
Back home, stock specific action is likely to dominate in the near term as the earnings season gathers pace. Wipro will be in focus after announcing a ₹15,000 crore buyback at ₹250 per share post market hours, even as its quarterly earnings reflected a marginal decline in net profit. The buyback signals management confidence, but sustainability of growth and commentary on demand will remain key for the IT sector. Jio Financial Services will also be closely tracked ahead of its Q4 results, adding to the earnings driven momentum in financials.
Two stocks to trade, recommended by NeoTrader’s Raja Venkatraman
Best stocks to buy today (All Buy trades are rates of Equity & Sell rates are based on F&O)
Astra Microwave Products Ltd (Cmp ₹1,074.70)
Astra Microwave Products Ltd: Buy above ₹1,715 | Stop ₹1,640 | Target ₹1,915 (multiday)
Why it’s recommended: Ltd (ASTRAMICRO) is an Indian high-tech company, specializing in the design, development, and manufacturing of critical sub-systems for Radio Frequency (RF) and microwave systems. After sharp, volatile movements over the last six months, the last few trading sessions have seen steady volumes. A long body candle thrust above the recent value resistance zone around 1030 has augured well for the prices. With momentum picking up, ably supported by volumes, we are invited to go long.
Key metrics:
P/E: 69.31,
52-week high: ₹1,195.65,
Volume: 827.28K
Technical analysis: Support at ₹975 | Resistance at ₹1,225.
Risk factors: High Earnings Volatility and Margin Pressure; high susceptibility to input price volatility; and slower decision-making cycles compared to private-sector competitors.
Buy: Above ₹1,075.
Stop loss: ₹1,020.
Target price: ₹1,175 (two months)
HEG Ltd: Buy above ₹630 | Stop ₹595 | Target ₹695 (multiday)
HEG (Cmp ₹626.85)
Why it’s recommended: Ltd, part of the LNJ Bhilwara Group, is a premier Indian company and the world’s largest single-site integrated graphite electrode manufacturer. After a sharp decline since Jan 2026, the V-shaped recovery clearly highlights the strong buying that has emerged at lower levels. One of the key triggers was a positive global cue following GrafTech International’s $600-1,200 per tonne price hike. With a strong move above the value resistance area around 595, one can look for more demand to emerge. A surge in the Relative Strength Index suggests we can initiate a long position here, targeting higher levels. Go long now.
Key metrics:
P/E: 42.88,
52-week high: ₹672.20,
Volume: 7.52M.
Technical analysis: Support at ₹562 | Resistance at ₹700.
Risk factors: Cyclical steel industry, reliance on a single manufacturing location, and raw material price volatility.
Buy: Above ₹630
Stop loss: ₹595
Target price: ₹695 ( two months)
Two stock recommendations by MarketSmith India
Buy: Rubicon Research Ltd (current price: ₹870)
Why it’s recommended: Strong growth in CRAMS/CDMO segment, expanding global client base, focus on complex generics & specialty pharma, regulatory-compliant manufacturing facilities, increasing revenue diversification, capacity expansion initiatives, improving margin profile, and strategic partnerships & long-term contracts
Key metrics: P/E: NA, 52-week high: ₹904.20, volume: ₹111.70 crore
Technical analysis: Flat base breakout
Risk factors: High client concentration risk, dependence on regulated markets (US/EU), pricing pressure in generics, regulatory/USFDA compliance risks, currency fluctuation impact, execution risk in capacity expansion, competition from global CDMO players, and working capital intensity
Buy: ₹860–875
Target price: ₹1,050 in two to three months
Stop loss: ₹814
Buy: Maruti Suzuki India Ltd (current price: ₹13,335)
Why it’s recommended: Market leader in passenger vehicles (dominant share), strong brand recall & wide product portfolio, extensive sales & service network, parent support from Suzuki Motor Corp, strong focus on fuel-efficient & affordable cars, growing presence in SUV & premium segment, EV expansion plans (future growth trigger), and efficient supply chain & scale advantages
Key metrics: P/E:28.48, 52-week high: ₹17,370.00, volume: ₹702.88 crore
Technical analysis: Trendline Breakout
Risk factors: High dependence on domestic market, increasing competition (Tata Motors, Mahindra, global OEMs), late entry in EV segment, margin pressure due to input costs, shift in demand towards SUVs impacting mix, stock volatility / recent underperformance, regulatory & emission norm risks, and currency & import dependency risk
Buy at: Rs 13,280–13,450
Target price: ₹14,800 in two to three months
Stop loss: ₹12,600
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.