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.
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08:43 AM IST
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
WATCH ZEE BUSINESS VIDEO HERE
Reliance Capital (Sell)
Target: Rs 390
Stoploss: Rs 401
Selling in finance stocks
Extra exposure margin on the stock beginning July 2
Lemon Tree (Buy)
Target: Rs 78
Stoploss: Rs 72
CLSA has a buy on the stock with a target price of Rs 90
(Stocks mentioned here are for informational purpose. Consult your financial advisor before investing.)
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