The BSE Sensex and NSE Nifty jumped over 5 per cent in the past one month. The 30-share index jumped 1418 points, or 5.37 per cent, to 27815.18 on July 13 from 26396 on the same day a month ago. During the period, the government approved the recommendation of the 7th Pay Commission, while the progress of monsoon has been swift erasing fears of drought. Market experts are bullish on the movement of equity markets. Nitasha Shankar, senior vice president, research at YES Securities sees Nifty touching levels of 9,000 and moving higher in the next few quarters driven by improving economy and consequently better corporate earnings, robust monsoons and the push given by the 7th Pay Commission payout. Today, Nifty hit 8,550 for the first time since August 11, 2015. Below are five stocks on which market experts are looking bullish: Sobha Ltd: JM Financial is bullish on Sobha Ltd with September 2017 target price of Rs 365. The brokerage house believes that the management focus on maintaining balance sheet health will help the realty company in meeting its execution commitments, going forward. For the financial year ended March 31, 2016, the company reported net profit of Rs 153.30 crore, down 35.62 per cent, against Rs 238.10 crore in the corresponding quarter a year ago. Since the beginning of the ongoing financial year, shares of the company jumped 21.15 per cent to Rs 333.05 till July 13. ONGC and Oil India: Of late, the government has allowed oil companies to increase kerosene price by Rs 0.25 per month till April 2017. According to IndiaNivesh Securities, the price hike by 25 paise every month till April 2017 will positively impact the earnings of upstream companies such as Oil India and ONGC. The brokerage house believes ONGC shares can touch Rs 280 while Oil India shares can hit Rs 460 in the next few quarters. On July 13, ONGC and Oil India were trading at Rs 234.60 and Rs 371.85, respectively. IndusInd Bank: For the quarter ended June 30, 2016, the bank reported a net profit of Rs 661.38 crore, up 25.97 per cent, against Rs 525.04 crore in the corresponding quarter a year ago. According to KR Choksey Shares and Securities, IndusInd Bank continues to demand higher multiples and has enjoyed re-rating good number of times. The brokerage house has 'Buy' rating on IndusInd Bank shares with a target price of Rs 1,352. Shares of the bank was at Rs 1,104.50 on July 13. HPCL: According to Motilal Oswal, Bhatinda refinery in which HPCL has 49 per cent stake is expected to continue posting profits in 2016-17 (FY16 net profit was at Rs 1,800 crore) even at the current petroleum product cracks, and expects gross refining margins to be in double-digits. HPCL plans capex of Rs 55,800 crore over FY16-21, which includes around Rs 25700 crore for refineries, Rs 26,200 crore for marketing, and the remaining for renewables, R&D and JV projects. For the next two years, capex will be funded through internal accruals and HPCL could take loan in later years as refinery capex will be back-ended. The brokerage house has 'Buy' on HPCL shares with target price of Rs 1,359. The scrip was trading at Rs 1048.50 on July 13.