Hiking tips

Sbi, Icici Bank, Hero Motocorp and more

India’s benchmark BSE Sensex and NSE Nifty50 stocks began tracking weakness in global markets on Friday. Fears of sharp rate hikes resurfaced globally after Fed Chairman Jerome Powell suggested the US central bank would act aggressively to rein in inflation.

The Sensex fell 666.9 points or 1.2% to 57,244.8 in the first few minutes of trading after opening lower. The Nifty50 started the day at 17,196.1, down 196.6 points or 1.1% from its previous close.

Globally, news about the Russian-Ukrainian war and rising COVID cases in some parts of the world remained on investors’ radar.

Shares in other Asian markets fell, with MSCI’s broadest index of Asia-Pacific stocks outside Japan down 0.9% in the early morning hours. Japan’s Nikkei 225 fell 1.9%, Hong Kong’s Hang Seng 0.9%, South Korea’s KOSPI 1.2% and Singapore’s Straits Times 0.2%. However, China’s Shanghai Composite rose 0.5%.

S&P 500 futures fell 0.4%. Thursday, the three main Wall Street indices reversed course and posted losses. the The S&P 500 fell 1.5%, the Dow Jones Industrial Average 1.1% and the tech-heavy Nasdaq Composite 2.1%.

CNBC-TV18’s in-house panel of experts has selected a list of stocks investors can buy/sell in trading today. Here are the best buy-sell calls from market experts:

Prakash Gaba from prakashgaba.com

Buy ICICI Bank for a target of Rs 775-780

Buy escorts for a target of Rs 1,600 with a stop loss at Rs 1,560

Buy Hero MotorCorp for a target of Rs 2,350

Buy Polycab for a target of Rs 2,800 with a stop loss at Rs 2,720

Buy Reliance Industries for a target of Rs 2,900 with a stop loss at Rs 2,740

Shrikant Chouhan of Kotak Securities

Buy Reliance Industries on dips to Rs 2,750-2,730 for targets of at least Rs 2,900-3,000 in coming days

Buy SBI for short term targets of Rs 530-535

Buy ICICI Bank for targets of Rs 790-800

Buy Fortis Healthcare for a target of Rs 290-295

Buy Sun Pharma for a target of Rs 990 with a stop loss at Rs 920

Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

(Edited by : Sandep Singh)