The Indian market extended gains for the third day in a row as the BJP retaining power in four states out of five that had gone in polls recently helped indices end around 1.5% higher on Thursday.
The Indian market extended gains for the third day in a row as the BJP retaining power in four states out of five that had gone in polls recently helped indices end around 1.5% higher on Thursday. The broader Nifty ended just shy of 16,600 at 16,594, while S&P BSE Sensex gained more than 800 points amid volatility. Banking, consumer durables, FMCG, Realty, Metal and financial services saw maximum buying interest.
The 12-share Nifty Bank too ended more than 650 points higher to around 34,500, while Nifty midcap and small cap indices with 0.9% and 1.4% gains respectively.
HUL, Tata Steel, Grasim, SBI, IndusInd Bank and JSW Steel were among top gainers, while Coal India, Tech Mahindra, Dr Reddy’s, TCS, UPL, ONGC dropped the most.
Asian markets were deep in the red on Friday as Japanese Nikkei 225 was trading over 2% lower, Hang Seng index was down over 2.5% and Chinese Shanghai Composite declined 1.2% in the morning trade around 7.30 am on Friday.
Earlier, the US market has too closed negative With Dow Jones declining 0.34%, Nasdaq Composite 0.95%, S&P 500 was Dow 0.43% and Russell 2000 ended with 0.23% cut on Thursday. The correction in the gobal shares come on back of US inflation hitting almost 8%, making it almost certain the U.S. Federal Reserve will raise interest rates next week, and the European Central Bank sped up the end of its massive stimulus program.
Data showed U.S. consumer inflation running at a 7.9% annualized clip in February, the largest annual increase in 40 years. Wall Street fell on the data, giving up some of the gains notched in the prior session`s relief rally, said a Reuters report.
Ahead of the market opening on Friday, Zee Business brings you a list of 20 stocks for profitable trade on Friday. The stocks have been picked from cash, F&O and techno segments, keeping in mind short-term, positional and long-term view of investors. Below is the list of stocks, take a look.
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Ashish Chaturvedi Stock Picks
CASH STOCK
BUY BIRLA CABLES TARGET 170 SL 162
FUTURES
SELL MFSL TARGET 762 SL 783
OPTIONS
BUY BIOCON PE TARGET 14.30 SL 10.50
TECHNO
BUY IRB INFRA TARGET 243 SL 225
FUNDA
BUY COLPAL TARGET 1570 SL 1460
INVESTMENT PICK
BUY BDL TARGET 620 DURATION 12 MONTHS
STOCK IN NEWS
BUY MOLDTEK TECH TARGET 75 SL 70
MY CHOICE
BUY MINDA IND TARGET 1090 SL 957
BUY JSPL TARGET 488 SL 460
BUY ROYAL ORCHID TARGET 118 SL 110
MY BEST
BUY COLPAL TARGET 1570 SL 1460
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Kushal Gupta Stock Picks
Cash
Emami – Buy – 495, sl – 473
FTR
City Union Bank – Buy – 129, sl – 120
OPTN
Exide Ind 150 CE@6 – Buy – 10, sl – 4
Techno
Britannia – Buy – 3300, sl – 3185
Funda
Wipro – Buy – 700
Duration – 6 months
Invest
Nippon AMC – Buy – 370
Duration – 6 months
News
SUN PHARMA – Buy – 894, sl – 857
Mychoice
Zomato – Buy – 86, sl – 80
CAMS – Buy – 3000
Duration – 6 months
Best Pick
Nippon AMC – Buy – 370
Duration – 6 months
