Stocks To BUY: Top 12 Shares To Buy Next Week For Good Profits

Markets are expected to remain buoyant in the coming days on the back of strong global cues. Rising interest rates would continue to see selling pressure at higher levels. The stocks mentioned below are from leading brokerage houses in the country and are based on their latest reports.

Here are 12 shares that individuals can buy next week for decent gains.

Stock name	Current market price	Target price	Brokerage house
Jubilant Ingrevia	Rs 519.25	Rs 860	Prabhudas Lilladher
Canara Bank	Rs 268	Rs 330	Emkay Global
Persistent Systems	Rs 3665.50	Rs 3950	Emkay Global
Axis Bank	Rs 900	Rs 875	Sharekhan
ITC	Rs 345.55	Rs 402	Sharekhan
Gail	Rs 86.50	Rs 150	ICICI Securities
Oil India	Rs 193.20	Rs 335	ICICI Securities
Coforge	Rs 3865	Rs 4680	Sharekhan
Bajaj Finance	Rs 7191.85	Rs 8,953	Prabhudas Lilladher
Asian Paints	Rs 3098.05	Rs 3689	Prabhudas Lilladher
Axis Bank	Rs 900	Rs 960	Kotak Securities
Cipla	Rs 1140	Rs 1215	Kotak Securities

Overseas trend to dictate market movement

According to Dr. Joseph Thomas, Head of Research, Emkay Wealth Management, " The domestic equity market moved very much in tandem with the movements in the global markets, especially the US markets. The rise in the Dollar Index, and the fall in the Japanese Yen , and the exit of the ruling Tory government were some of the developments which were of some import for the markets. The Rupee declined beyond the Rs.83 level against the US Dollar but the reported RBI intervention pushed the rate down below the crucial Rs.83 level. With the holiday season at the doorstep, most of the movements would continue to be determined by the overseas developments."

Markets to remain volatile

US markets have been rallying for the last few sessions and the Indian markets are expected to open higher next week. Bond yields in the US are also falling, though all eyes would be on the US Fed Meet later next month. Corporate results from the US have also been good and fears of looming recession maybe over done for now. Largely, the Indian markets are expected to take cues from developments in the US, though the falling rupee could also pose problems for the markets. At the moment, the trend looks firm.

Disclaimer

Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, brokerage firm, and the author are not liable for any losses caused as a result of decisions based on the article.