Banking stocks soared on Wednesday, sending indices to record highs (Representational image)
Indian shares are likely to start Thursday's session on a flat note with the SGX Nifty on Singapore Exchange trading 33.5 points lower. Shares in other Asian markets stalled on Thursday, with MSCI's broadest index of Asia-Pacific shares outside Japan slipping 0.05 per cent. Australian stocks dipped 0.2 per cent while South Korea's KOSPI lost 0.1 per cent. Japan's Nikkei, which had snapped a 16-day winning run the previous day, rose 0.35 per cent. Overnight, US stocks pulled back from record highs, while the euro stretched gains ahead of a European Central Bank (ECB) policy meeting at which it could take a major step away from accommodative policy.
Indian banking shares soared on Wednesday, sending indices to record highs. Gains came a day after the Cabinet approved a Rs. 2.11-lakh-crore plan to recapitalise its state banks over the next two years. Investors sent SBI shares up as much as 29 per cent to their highest since January 2015. The benchmark NSE Nifty rose as much as 1.3 per cent, touching a record high.
Market expert Simi Bhaumik shared her top trading picks:
Simi Bhaumik, research analyst:
Buy Tata Motors
on dips for a target price of Rs 430-32 with stop loss at Rs 416
Buy Power Finance Corporation (PFC)
on dips for a target price of Rs 145-46 with stop loss at Rs 139.50Disclaimer: Investors are advised to make their own assessment before acting on the information.