The NSE Nifty is likely to start Wednesday's session on a positive note
The stock markets are likely to start Wednesday's session on a positive note, with the SGX Nifty on Singapore Exchange trading 91 points higher at 10556.50. Shares in the other Asian markets were set for a tense session as investors awaited readings on US inflation. The early inclination was to inch higher as E-Minis for the S&P 500 added 0.1 per cent and MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.2 per cent. Japan's Nikkei bounced 0.4 per cent to 21,327. Data showed Japan's economy grew a fraction slower than forecast last quarter but still managed the longest run of expansion since 1989. Overnight on Wall Street, the Dow Jones industrial average rose 0.16 per cent, while the S&P 500 gained 0.26 per cent and the Nasdaq 0.45 per cent.
On Friday, the NSE Nifty and BSE Sensex moved higher after last week's rebound on Wall Street. The Sensex closed at 34,300, posting a gain of 294 points, and the NSE Nifty settled 84 points higher at 10,539.
Simi Bhaumik, research analyst, shared her trading picks:
Buy Amara Raja Batteries for a target price of Rs 880 with stop loss at Rs 835
Buy Bharat Forge for a target price of Rs 800 with stop loss at Rs 762
Buy United Spirits at a minor dip near Rs 3,230-3,220 with a target price of Rs 3,385 with stop loss at Rs 3,210
Disclaimer: Investors are advised to make their own assessment before acting on the information.