Trading Calls: Buy Bharat Financial, IGL; Sell Hindustan Zinc, Say Experts. Weakness in pharma, metal, realty and banking stocks weighed on the broader markets in early morning deals.
Buy Bharat Financial, IGL; Sell Hindustan Zinc, Say Experts.
Indian markets started Friday’s session on a weak note, with the Sensex shedding 190 points to 32,193 and the Nifty falling 53 points to 9,967. Weakness in pharma, metal, realty and banking stocks – down 0.5-1 per cent – weighed on the broader indicess in early morning deals. Among the top losers on the Nifty were Dr Reddy’s Laboratories, Lupin, Hindustan Unilever, Hindalco industries, ICICI Bank and Vedanta, down between 1.50 per cent and 5.05 per cent. Shares in the other Asian markets sagged with the MSCI’s broadest index of Asia-Pacific shares outside Japan falling 0.8 per cent, though it was still on track for a 0.4 per cent weekly gain. Japan’s Nikkei shed 0.4 per cent. On Wall Street, the Dow industrials set a record closing high, helped by a 7.7 per cent jump in Verizon, following the top US wireless carrier’s quarterly earnings.
Meanwhile, market experts shared their top trading picks:
Lovelesh Sharma of Epic Research:
Buy Bharat Financial on dips for a target price of Rs. 845 with stop loss at Rs. 799
Sell Hindustan Zinc on rise for a target price of Rs. 255 with stop loss at Rs. 285
Simi Bhaumik, research analyst:
Buy IGL for a target price of Rs. 1220 with stop loss at Rs. 1,155
Buy Tata Elxsi for a target price of Rs. 1,785 with stop loss at Rs. 1,720
Disclaimer: Investors are advised to make their own assessment before acting on the information.