Indian stock markets are likely to start Wednesday's session on a positive note with the SGX Nifty on Singapore Exchange trading up 15.50 points at 10484.50. Shares in the other Asian markets struck a fresh decade high. MSCI's index of Asia-Pacific shares outside Japan edged up another 0.1 per cent, having jumped 1.4 per cent on Tuesday in its best performance since last March. The index is creeping ever closer to the all-time peak of 591.50 reached in late 2007. South Korean stocks were up for the fourth session running, while Japan's Nikkei remained closed for holidays. Overnight on Wall Street, key US indices scored another set of record closing peaks. The Dow rose 0.42 per cent, the S&P 500 gained 0.83 per cent and the Nasdaq 1.5 per cent.
On Tuesday, the domestic markets closed little changed as caution prevailed ahead of corporate results next week. The BSE Sensex ended flat at 33,812.26, while the NSE Nifty closed 0.06 per cent higher at 10,442.20.
Market experts shared their trading picks.
Simi Bhaumik, research analyst:
Buy Vedanta for a target price of Rs 336 with stop loss at Rs 324
Buy Rain Industries for a target price of Rs 450 with stop loss at Rs 380
Buy Graphite India for a target price of Rs 855 with stop loss at Rs 760
Lovelesh Sharma of Epic Research:
Buy Coal India for a target price of Rs 290 with stop loss at Rs 262
Sell Hindalco Industries for a target price of Rs 255 with stop loss at Rs 282
Disclaimer: Investors are advised to make their own assessment before acting on the information.
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