Indian benchmark indices may witness a lower opening on Thursday tracking the weak sentiment in global markets. At 8:57 am, the futures contract of Nifty50 on the Singapore Exchange — an early indicator of India's Nifty50 index’s performance — was down 0.3 percent or 45.5 points at 17,337.
Weakness in global markets was due to caution ahead of the European Central Bank meeting scheduled for later Thursday. The central bank’s meeting is particularly in focus, as market participants expect it to announce a token step towards reducing its emergency economic support.
Key Asian indices were lower in trade on Thursday as concerns about Beijing’s regulatory crackdown weighed on sentiment after officials summoned gaming companies including Tencent Holdings and Netease Inc to discuss further oversight.
On the economic data front, China’s official producer price index rose by 9.5 percent in August from a year earlier, compared with 9 per cent in July, while consumer price index rose by 0.8 percent in August from a year earlier, compared with a 1 percent rise in July. Factory-gate price inflation in China remained high in August, rising to the highest level in 13 years.
On Wall Street overnight, a US central bank survey signalled a moderation in economic growth due to the delta strain of coronavirus which made investors jittery. Further, investor sentiment was weak in the US market as several US Federal Reserve policymakers signalled on Wednesday that the central bank remains on track to reduce asset purchases this year, as per reports.
CNBC-TV18’s in-house panel of experts has picked a list of stocks for investors to buy/sell in trade on Thursday. Here are the top buy-sell calls by market experts:
Mitessh Thakkar of mitesshthakkar.com
Buy Coal India for a target price of Rs 155 with a stop loss at Rs 146
Buy Kotak Mahindra Bank for a target price of Rs 1,860 with a stop loss at Rs 1,794
Buy HDFC AMC for a target price of Rs 3,400 with a stop loss at Rs 3,200
Sell Apollo Tyres for a target price of Rs 206 with a stop loss of Rs 218.2
Sudarshan Sukhani of s2analytics.com
Buy Axis Bank for a target price of Rs 810 with a stop loss at Rs 785
Buy Hindustan Unilever for a target price of Rs 2,840 with a stop loss at Rs 2,770
Sell Mahindra & Mahindra for a target price of Rs 745 with a stop loss at Rs 763
Sell Strides Pharma for a target price of Rs 589 with a stop loss at Rs 602
Disclaimer: CNBCTV18.com advises users to check with certified experts before taking any investment decisions.