SBI, Colgate among key buy and sell trading ideas for Thursday's trade

MSCI’s broadest gauge of the world’s stock markets fell to its lowest level in almost three months, on course to post its fourth month of loss in the last five. Its emerging market index hit the weakest level since mid-August.

Sell SBI with a target price of Rs 253. Image source: Reuters

The Sensex and Nifty are expected to extend losses on Thursday tracking Asian markets, which slumped to nine-month lows on growing worries the US administration’s approach to trade is harming global economic growth even as it appeared to be modifying its approach to curb Chinese investments in US technology firms.

MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.25 per cent to a nine-month low in early trade while Japan’s Nikkei shed 0.30 per cent. The US S&P 500 lost 0.60 per cent on Wednesday to one-month closing low.

MSCI’s broadest gauge of the world’s stock markets fell to its lowest level in almost three months, on course to post its fourth month of loss in the last five. Its emerging market index hit the weakest level since mid-August.

Here are key trading ideas for today's trade:

Exide Industries (Buy)

Target: Rs 255
Stoploss: Rs 245

The company entered into a deal with Leclanche, a Swiss company
The deal is about producing batteries for e-vehicles

State Bank of India (Sell)

Target: Rs 253
Stoploss: Rs 264
SBI is going to shut down 9 global branches
6 global branches have already been closed

Colgate (Buy)

Target: Rs 1205
Stoploss: Rs 1172

Kotak Securities recommended buy on the stock
Target Rs 1300: Kotak Securities

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