The Indian market extended gains to the sixth consecutive day with the benchmarks Nifty50 and Sensex ending higher by around 0.70% each on Tuesday.
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The Indian market extended gains to the sixth consecutive day with the benchmarks Nifty50 and Sensex ending higher by around 0.70% each on Tuesday. As the market continues to soar amid improved sentiments, the cues from the Asian market were positive on Wednesday morning.
The SGX Nifty, which indicates opening trends of the Indian market, was trading higher by 30 points on the Singaporean exchange on Wednesday morning.
Similarly, Japanese Nikkei 225 rose 0.8%, Hang Seng Index at the Hong Kong Exchange gained 0.22% and Chinese Shanghai Composite traded flat in early trade.
Earlier, the US markets too closed largely positive with the Dow Jones ending higher by 239 points and S&P500 gaining eight points in the closing trade on Tuesday. However, Nasdaq index ended lower by 25 points.
“US stock advanced on Tuesday, and closed higher following a sudden pullback in tech shares, as investors assessing the latest round of upbeat earnings against a backdrop of growing concerns over slowing growth and rising borrowing costs. Moreover, reports Monday indicating a sharp drop in New York state manufacturing along with the longest streak of declines since 2007 in homebuilder sentiment sparked optimism in equity markets that the Fed may slow interest rates hike,” said Marc Despallieres, Chief Strategy & Trading Officer at Vantage.
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A critical clue on how sensitive the Fed is to unfolding economic data may be known when the minutes of the last meeting of the Federal Open Market Committee on Wednesday, he added.
Meanwhile, Zee Business brings you a list of 20 stocks from cash, techno and F&O space. These stocks have been picked keeping in view investors’ short-to-long term requirements. The list also comprises intraday calls for good returns on a given day. Below is the list of stocks.
Ashish Chaturvedi Stock Picks
CASH KA STOCK
BUY GOODLUCK TARGET 384 SL 366
FUTURES
BUY AARTI IND TARGET 853 SL 825
OPTIONS
BUY DEEPAK NITRITE 2100 CE TARGET 78 SL 44
TECHNO
BUY FORTIS HEALTH TARGET 315 SL 283
FUNDA
BUY ALLCARGO LOGISTICS TARGET 405 DURATION 12 MONTHS
INVEST STOCK
BUY DMART TARGET 5100 DURATION 12 MONTHS
STOCK IN NEWS
NO-STOCK
MY CHOICE
BUY LGBALA TARGET 750 SL 730
BUY HIMADARI TARGET 104 SL 98
BUY AFFLE INDIA TARGET 1275 SL 1199
MY BEST
BUY GOODLUCK TARGET 384 SL 366
Varun Dubey Stock Picks
Cash
Buy Techno Electric Target Rs 290 SL RS 275
Futures
Buy Maruti Suzuki Target Rs 9200 SL RS 8950
Options
Buy HDFC bank Target Rs 20 SL RS 14
Tech
Sell PVR Target Rs 1930 SL RS 2020
Funda
Buy Home First Finance Target Rs 1000 SL Rs 950
Invest
Buy Cummins Target Rs 1500 Duration 4 Months
In News
Buy Bharat Gears Target Rs 155 SL RS 147
My Choice
Buy Hindustan Copper Target Rs 119 SL RS 111
Buy Mahindra Logistics Target Rs 500 SL Rs 475
Buy Aarti Drugs Target Rs 440 SL RS 415
