Indian stock markets are likely to start Thursday's session on a weak note with the SGX Nifty trading 34.50 points lower at 10,395.50 on Singapore Exchange. SGX Nifty is an early indicator of NSE Nifty. Shares in the other Asian markets sagged broadly amid mounting investor concerns that growing trade tensions would hurt the global economy. MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.05 per cent. The Asian markets took their cues from Wall Street shares, which fell for the third straight session overnight after US President Donald Trump sought to impose fresh tariffs on China, intensifying fears of a trade war. Australian stocks fell 0.35 per cent, South Korea's KOSPI lost 0.15 per cent and Japan's Nikkei was down 0.15 per cent.
On Wednesday, the BSE Sensex closed 21 points lower at 33,835, recovering most of the day's losses, while the NSE Nifty closed 10 points above the 10,400 mark.
"For the time being, index is clearly consolidating in a range of 10480 - 10300 and within this, one should ideally avoid trading index aggressively and should rather focus on individual stocks," according to Sameet Chavan, chief analyst-technical and derivatives, Angel Broking.
Meanwhile, market experts shared their trading picks.
Simi Bhaumik, research analyst:
Buy Ashok Leyland for a target price of Rs 153 with stop loss at Rs 147.50
Buy Motherson Sumi for a target price of Rs 328 with stop loss at Rs 316
Buy Wockhardt for a target price of Rs 822 with stop loss at Rs 782
Lovelesh Sharma of Epic Research:
Buy Tata Communication for a target price of Rs 665 with stop loss at Rs 627
Buy Tata Global Beverages for a target price of Rs 293 with stop loss at Rs 270
Disclaimer: Investors are advised to make their own assessment before acting on the information.