After trading positive throughout, the Indian market extended losses for the sixth day on Wednesday as it succumbed to selling pressure and volatility arising out of geopolitical tensions surrounding Russia-Ukraine conflict.
After trading positive throughout, the Indian market extended losses for the sixth day on Wednesday as it succumbed to selling pressure and volatility arising out of geopolitical tensions surrounding Russia-Ukraine conflict. The benchmarks Nifty and the Sensex corrected 0.17% and 0.12% as the former ended below 17,100 and the latter above 57,200.
The 12-share Bank Nifty ended with marginal gains as the banking index managed to close near 37,400. The broader markets too pared earlier gains, but nevertheless managed to end the day in the green as the small cap and mid cap indices gained up to around 1 per cent in the closing.
Realty, Consumer Durables and PSU Bank remained the leading sectors as auto, financial services witnessed maximum selling pressure in the closing hours.
Meanwhile, global stocks continued to decline on back of escalating tension between Ukraine and Russia. Global stocks extended a sell-off, the yen strengthened, and U.S. Treasury prices rose on Thursday as investors sought shelter in safe-haven assets amid growing fears of a full-scale Russian invasion of Ukraine, said a Reuters report.
As one of the worst post-Cold War security crises in Europe for decades worsens, U.S. Secretary of State Antony Blinken said he believes Russia will invade Ukraine within hours after separatists on Wednesday asked for Moscow`s help and as explosions rocked the breakaway eastern city of Donetsk.
Overnight, U.S. stocks took a beating, with the Dow Jones Industrial Average down 1.38% to barely above the level that would have confirmed a correction. The MSCI World Index, a leading gauge of equity markets globally, skidded to its lowest level since April 2021.
In Asia on Thursday, the selloff showed no signs of abating.
MSCI`s broadest index of Asia-Pacific shares outside Japan fell 1.0% in early trade, with Australian shares diving 2.67%. In Tokyo, the Nikkei was 1% lower. Chinese blue chips fell 0.5%.
Meanwhile, ahead of the market opening, Zee Business research team has shortlisted 20 stocks to help investors build a strong portfolio and make gains. These stocks have been identified from cash, F&O and techno space to help investors make money in short-term, positional and long-term basis. Below is the list of stocks, take a look:
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Ashish Chaturvedi Stock Picks
CASH STOCK
BUY UNICHEM LABS TARGET 270 SL 256
FUTURES
SELL SHRIRAM TRANSPORT FIN TARGET 1158 SL 1188
OPTIONS
BUY ADANI PORT MARCH 700 PE TARGET 34 SL 23
TECHNO
SELL AMBUJA CEMENTS TARGET 306 SL 340
FUNDA
BUY DIXON TECH TARGET 5000 DURATION 9-12 MONTHS
INVESTMENT PICK
BUY NALCO TARGET 140 DURATION 9-12 MONTHS
STOCK IN NEWS
BUY BALRAMPUR CHINI TARGET 418 SL 402
MY CHOICE
SELL GUJARAT GAS FUT TARGET 607 SL 625
SELL JSW STEEL TARGET 602 SL 620
SELL UPL TARGET 674 SL 694
MY BEST
SELL AMBUJA CEMENTS TARGET 306 SL 340
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Kushal Gupta Stock Picks
Cash
Oil India – buy – 226, sl – 217
Futures
motherson sumi – sell – 150, sl – 159
Options
Dr Reddy 4200 PE @ 15.5- Buy – 30, sl – 10
Techno
Tata Motors – sell – 463, sl – 482
Funda
Intellect Design Arena – buy – 800
duration – 1 year
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investment
CG Consumer Buy 520, Duration 1 Year
News Ke Dum Par
Eid parry – buy – 432, sl – 415
MY CHOICE
Tata Steel Sell 1100, Sl 1150
Apollo Tyres FUT sell 194, Sl 205
Britannia FUT Sell 3400, Sl 3540
Best Pick
CG Consumer Buy 520, Duration 1 Year
