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Stocks to buy on 23 March: On March 20, the benchmark stock indices, Sensex and Nifty 50, relinquished much of their intra-day gains to close nearly half a percent higher on Friday, driven by strong purchases in PSU bank, IT, and metal sectors amid worries about a possible rise in fuel-related inflation.

In a session marked by volatility, the 30-share BSE Sensex rose by 325.72 points or 0.44% to finish at 74,532.96. Throughout the day, it surged by 1,079.15 points, or 1.45%, reaching 75,286.39.

The Nifty 50 increased by 112.35 points, or 0.49%, to conclude at 23,114.50. During the day, it advanced by 343 points, or 1.49%, peaking at 23,345.15. On the weekly overview, the BSE benchmark decreased by 30.96 points or 0.04%, while the Nifty 50 fell by 36.6 points or 0.15%.

Analysts indicated that developments concerning the ongoing conflict in West Asia and their effect on crude oil prices will continue to influence investor sentiment in the upcoming shortened holiday week.

Additionally, global market trends, the trading behavior of foreign investors, and the fluctuations in the rupee-dollar exchange rate will also play a role in shaping momentum in equities.

The stock markets will be closed on Thursday on account of Shri Ram Navami.

The Gift Nifty Live Chart is showing a flat to positive start for the Indian stock market today. By 7:39 AM, the Gift Nifty was trading around 22,833 level, a discount of 308 points from the Nifty futures’ previous close of 23,140.50.

Decoding the impact of Gift Nifty live chart and other triggers on Dalal Street, Hariprasad K, SEBI-registered Research Analyst and Founder, Livelong Wealth said that Indian equities are set for a sharply lower opening, with early indications from Gift Nifty pointing to a gap-down of over 300 points from Friday’s close. The weakness reflects a significant deterioration in global risk sentiment, as geopolitical tensions in the Middle East continue to escalate.

Regarding stocks to buy today — Raja Venkatraman is Co-founder of NeoTrader, and stock research platform MarketSmith India, recommended buying these four shares: Fertilizers and Chemicals Travancore Ltd (FACT), Chambal Fertilisers & Chemicals Ltd, CCL Products (India) Ltd, and Aurobindo Pharma Ltd.

FACT (Cmp 791.45)

FACT: Buy above ₹800, stop ₹760 target ₹880 (Multiday)

o P/E Ratio: 1831.87

o 52-week high: ₹1111

o Volume: 4.72M

3. Technical analysis: Support at ₹680, resistance at ₹1100.

4. Risk factors: Reliance on government subsidies, input cost volatility, and a highly leveraged financial structure.

5. Buy : above ₹800.

6. Stop loss: ₹760.

7. Target price: ₹880. (3 Months)

Chambal Fertilisers & Chemicals Ltd: Buy above ₹435, stop ₹400 target ₹510 (Multiday)

Chambal Fertilisers (Cmp 428.55)

Chambal Fertilisers: Buy above ₹435, stop ₹400 target ₹510 (Multiday)

o P/E: 9.02,

o 52-week high: ₹742.45,

o Volume: 204.49M.

3. Technical analysis: Support at ₹1225, resistance at ₹1800.

4. Risk factors: High debt from capital-intensive projects, volatility in oil-to-chemicals (O2C) margins, intense competition in telecom/retail, and geopolitical threats affecting energy prices.

5. Buy : above ₹435

6. Stop loss: ₹400

7. Target price: ₹510 (3 Months)

Why it’s recommended: Expanding global demand for private-label and instant coffee, capacity expansion in India and Vietnam supporting volume growth, and increasing share of high-margin branded and specialty products improving realizations.

Key metrics: P/E: 36.79, 52-week high: ₹1,105, volume: ₹98.65 crore

Technical analysis: Consolidation base breakout

Risk factors: Exposure to volatile coffee bean prices impacting margins, high dependence on export markets and currency fluctuations, and competitive intensity in global private-label coffee limiting pricing power.

Buy: ₹1,080–1,100

Target price: ₹1,250 in two to three months

Stop loss: ₹1,025

Why it’s recommended: Strong pipeline of complex generics and specialty products (including injectables and biosimilars), scale-up in the US and Europe with improving product mix, and backward integration supporting cost efficiencies and margin expansion.

Key metrics: P/E:20.62, 52-week high: ₹1,319.80, volume: ₹179.38 crore

Technical analysis: flat base breakout retest

Risk factors: Regulatory risks, including the U.S. FDA observations and plant compliance issues, pricing pressure in the US generics market affecting margins, and high R&D and litigation costs impacting near-term profitability.

Buy at: ₹1,280–1,300

Target price: ₹1,400 in two to three months

Stop loss: ₹1,240

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.Dhanya Nagasundaram works as a Content Producer at LiveMint, specializing in news related to financial markets, stocks, and business. With over eight years of experience in journalism and content creation, she has honed her skills in data-driven reporting and market analysis. Her focus is on monitoring stock trends, initial public offerings (IPOs), corporate news, policy shifts, and larger economic trends that affect investors and market players.

At LiveMint, Dhanya consistently writes and produces articles that make complex financial topics accessible to readers. She keeps a close eye on equity markets, commodities, and macroeconomic indicators, assisting audiences in comprehending how global and domestic events influence investment perspectives. Her stories frequently underscore emerging trends within sectors, the IPO market, company earnings results, and market strategies pertinent to both retail and institutional investors.

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Throughout her career, she has explored numerous subjects such as trading strategies, commodities, IPOs, wealth generation, corporate profits, and macroeconomic indicators. Her background in both financial journalism and corporate settings has given her the ability to tackle stories with analytical rigor while ensuring clarity for her audience. Through her contributions, Dhanya strives to deliver insightful, trustworthy, and investor-centric financial content.

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