Indian Indices Slide as Economy Shows Signs of Weakening

Mumbai: Indian benchmark indices continued to lose value on Thursday, with the BSE Sensex falling 110.64 points, or 0.14 per cent, to close at 77,580.31. The Nifty50 slipped 26.35 points, or 0.11 per cent, to settle at 23,532.70 for the day.

The weakening economy and disappointing Q2 earnings have contributed to the decline in the share markets. Foreign investors continued to pull out of Indian stocks, which has further fueled the downward trend. The constant FIIs (Foreign Institutional Investors) outflows are causing concern among traders and investors.

In spite of this, some volatile stocks such as Dishman Carbogen Amcis Ltd, Thyrocare Technologies Ltd, and Coforge Ltd could attract market attention today. According to Axis Securities, these stocks are likely to be under the spotlight for today's trading session.

Thyrocare Technologies is expected to make a move upwards on Monday, with Axis Securities advising a "Buy" call. The analyst has recommended a target price of Rs 1,046-1,100 and a stop loss at Rs 895, based on strong upward momentum driven by the stock's breakout from a 'rounded bottom' pattern in November.

Coforge Ltd is expected to reach new heights as it continues its rising trend within a channel. Axis Securities has recommended a "Buy" call for the stock with a target price of Rs 8,600-8,900 and a stop loss at Rs 8,600-8,900.

However, market conditions can remain volatile due to weak economic data. Investors should be cautious and maintain long-term strategies rather than jumping into speculative trades.