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F&O stocks to watch: Nuvama said ITC emerges as a low-beta long option within FMCG, while Hindustan Aeronautics and NMDC also appear well-positioned for potential gains of 5-8 per cent.
Defence stocks: The brokerage recommended Solar Industries (Buy; target price: Rs 10,950), Astra Microwave (Buy; target price: Rs 800) and Azad Engineering (Buy; target price: Rs 1,600) as key stock picks in the defence space.
With zero debt and comfortable working capital position, Bharat Electronics is well-placed to benefit from the defence opportunity, Jefferies said. Global OEM tie-ups not giving a material benefit is seen as a key risk for the HAL stock.
The Nifty opened weak but pushed through to end with a gain.
Bernstein said FII crowding can be seen in NMDC, Bharat Electronics, HAL, Bank of Baroda, Canara Bank, Indian Bank and Union Bank.