The Indian markets ended in the red amid quick sell-off in closing hours as global cues turned negative.
The Indian markets ended in the red amid quick sell-off in closing hours as global cues turned negative. Benchmarks Nifty 50 slipped below 17,400, while the Sensex gave up 58,000. The two indices closed 0.17% and 0.25% lower to 17,322 and 57,996.68. Nifty PSU Bank, metal and media declined the most, while consumer durables, realty and pharma gained.
“Falling western markets prompted a quick sell-off during closing hours. In yet another blow to global inflationary pressure, UK’s inflation jumped to 5.5% in January recording a 30 year high, putting pressure on the Bank of England for a further rate hike sooner than earlier anticipated,” Vinod Nair, Head of Research at Geojit Financial Services.
In the Asian market, the indices were trading mixed amid geo-political tension between Russia and Ukraine. Japanese Nikkei was trading 0.30% lower, Hng Seng Index at the Hong Kong Exchange was up 0.50% and Chinese Shanghai Composite was trading flat with positive bias.
In the US market, indices closed mixed as Dow Jones ended 0.16%, Nasdaq declined 0.11%, S&P500 closed marginally 0.09% higher and Russell 2000 settled with 0.14% gains.
Ahead of the market opening, Zee Business research team brings you a list of 20 stocks that can help investors mint money on a short to long-term basis. These stocks have been picked from cash, futures and techno segments. Below is the list of stocks, take a look.
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Varun Dubey Stock Picks
Cash
Buy SPIC Target Rs 56 SL RS 53
Futures
Buy IOC Target Rs 125 SL RS 120
Options
Buy Dr Reddy’s 4350 CE Target Rs 80 SL RS 52
Technical
IRCTC buy TGT 855, Sl 810
Funda
Buy Tata Motors DVR Target Rs 250 SL RS 234
Investment
Buy Himatsingka Seide Target 250, Duration 6 Months
News
Buy Schaeffler India Target Rs 1700 SL RS 1600
My Choice
Buy Advani Hotels Target Rs 86 SL RS 81
Buy Mawana Sugar Target Rs 113 SL RS 107
Buy SJVN Target Rs 32 SL RS 30
MY BEST
Buy Schaeffler India Target Rs 1700 SL RS 1600
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Kushal Gupta Stock Picks
Cash
Quess Corp – Buy – 600, sl – 570
FTR
GAIL – 143, sl – 136
OPTN
Tata Motors 500 CE@11 – Buy – 18, sl – 7
Techno
Sona BLW – Buy – 670, sl – 642
Funda
Jubilant Ingrevia – Buy – 650, Duration – 1 year
Investment
Ashok Leyland Buy 165, Duration Duration – 1 year
Stock In News
BHEL Buy 57, Sl 54
My Choice
NMDC Buy 157, Sl 150
Eicher Motor Buy 2785, SL 2670
Sonata Soft Buy 805, Sl 770
My best
Jubilant Ingrevia – Buy – 650, Duration – 1 year
