Indian stocks are expected to start Tuesday’s session on a negative note amid weakness in most other global markets. As of 8:50 a.m., Nifty futures traded on the Singapore Stock Exchange – an early indicator of the Nifty50 index – were down 97.5 points or 0.6% to 17,348.5.
Stocks in other Asian markets fell sharply following a surge in US Treasury yields as the appointment of Federal Reserve Chairman Jerome Powell as head of the Federal Reserve fueled bets on a faster policy tightening. The largest MSCI index of equities in Asia-Pacific excluding Japan fell 0.7%. China’s Shanghai Composite rose 0.2%.
Hong Kong’s Hang Seng fell 0.9%, South Korea’s KOSPI fell 0.5%, and Singapore’s Straits Times fell 0.1%. Futures contracts on the S&P 500 remained stable at the start of Asian trading.
Overnight on Wall Street, the three major indices ended on a mixed note, with the technology-heavy Nasdaq Composite gauge falling 1.3%. The S&P 500 fell 0.3% and the Dow Jones managed to gain almost 0.1%.
CNBC-TV18’s internal expert panel has selected a list of stocks that investors can buy / sell in trade today. Here are the main buy-sell calls from market experts:
Shrikant Chouhan of Kotak Securities
Sell Mphasis for a target of Rs 3,050 with a stop loss at Rs 3,295
Buy Hindalco for a target of Rs 440-442 with a stop loss at Rs 430
Mitessh Thakkar from miteshthakkar.com
Sell Bajaj Finserv for a target of Rs 16,450 with a stop loss at Rs 17,525
Sell Coromandel International for a target of Rs 732 with a stop loss at Rs 766
Sell Dr Lal PathLabs for a target of Rs 3,350 with a stop loss at Rs 3,530
Buy Indian hotels for a target of Rs 209 with a stop loss at Rs 193.50
Disclaimer: CNBCTV18.com advises users to check with certified experts before making any investment decision.
(Edited by : Sandeep Singh)
First publication: STI