Last week, the stock marketscontinued to choke under selling pressure
Indian stock markets are likely to start Monday's session on a higher note, with the SGX Nifty trading up 112 points at 10,325.50 on Singapore Exchange. Shares in the other Asian markets rose, taking positive cues from Wall Street where shares ended almost 2 per cent higher on Friday. MSCI's broadest index of Asia-Pacific shares outside Japan climbed 1.1 per cent, for a third session of gains. Japan's Nikkei 225 was trading 1.5 per cent higher, China's Hang Seng was up 1.3 per cent and Shanghai Composite 0.3 per cent and South Korea's KOSPI up 1 per cent. On Friday, the three major US stock indices climbed almost 2 per cent and the Nasdaq closed at a record high, as February's jobs report assuaged fears of inflation and aggressive interest rate hikes. The Dow Jones Industrial Average rose 440.53 points, or 1.77 per cent, to end at 25,335.74, the S&P 500 gained 1.74 per cent and the Nasdaq Composite added 132.86 points, or 1.79 per cent, to 7,560.81.
On Friday, the NSE Nifty had closed 15.80 points, or 0.15 per cent, lower at 10,226.85 while the BSE Sensex shed 44.43 points (0.13 per cent) to settle at 33,307.14. For the week, the domestic stock markets continued to choke under selling pressure, with the Nifty tumbling 231.50 points to 10,226.85 and the Sensex sliding 739.80 points to settle at 33,307.14. (Read more)
Simi Bhaumik, research analyst, shared her trading picks:
Buy TCS on a minor dip for a target price of Rs 3,089 with stop loss at Rs 3,000
Sell ACC on a minor rally for a target price of Rs 1,495 with stop loss at Rs 1,545
Disclaimer: Investors are advised to make their own assessment before acting on the information.