The benchmark indices are expected to open flat on Wednesday after Asian markets pared earlier gains as optimism that trade ties between Washington and Beijing were on the mend gave way to questions about the next phase of the diplomatic tit-for-tat between the two countries. At 8:40 am, SGX Nifty was trading at 10,429, up 3 points or 0.03 per cent.

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.35 per cent higher. It gained 1.2 per cent the previous day after a speech by Chinese President Xi Jinping was seen as striking a more conciliatory stance following a week of tit-for-tat tariff threats between Beijing and Washington. The index’s surge lost some steam, however, with some Asian equity markets staggering, as the world’s two biggest economies are still seen needing to clear more hurdles before reaching any sort of settlement over trade issues. 

Australian stocks were down 0.25 per cent and Japan’s Nikkei dipped 0.1 per cent. South Korea’s KOSPI rose 0.25 per cent, Hong Kong’s Hang Seng climbed 0.5 per cent and Shanghai added 0.2 per cent. The Dow advanced 1.8 per cent, the S&P 500 rose 1.7 per cent and Nasdaq added 2.1 per cent overnight after Xi on Tuesday pledged to further open up the economy and promised to cut import tariffs on products including cars.

On Tuesday, foreign institutional investors sold scrips worth Rs 684.99 crore, while the domestic institutional investors purchased stocks worth Rs 653.65 crore, provisional data with the exchanges showed. The Sensex ended at 33,880, up 91.71 points, while the broader Nifty50 closed at 10,402, up 22.90 points.

Here are key trading ideas for today's trade:

1. Bharat Seats (Buy)

Target: Rs 217
Stoploss: Rs 210

Board meeting on April 19 
Earnings to come in robust

2. Pheonix Mills (Buy)

Target: Rs 590
Stoploss: Rs 570

CPPIB invested Rs 938 crore in subsdiary Star Mall
CPPIB added additional 19% stake to 49% in Star Mall

3. Fortis Health (Buy)

Target: Rs 150
Stoploss: Rs 144

Fortis Healthcare increased hospital business value to Rs 1,058 crore
Manipal increased Fortis valuation by 21%
Fortis value increased from Rs 96.5 per share to Rs 116.9 per share

4. IOC (Sell) 

Target: Rs 174
Stoploss: Rs 181

Brent crude surpasses $70
Brent trading at highest level since March 27

5. Star Cement (Buy)

Target: Rs 132
Stoploss: Rs 127

The company received Rs 80.26 crore subsidy by govt
Funds to be used for debt repayment

6. Syngene (Buy)

Target: Rs 630
Stoploss: Rs 605

The stock rallied in last hour of trade
Buying seen with heavy volumes

7. Godfrey Phillps (Buy)

Target: Rs 910
Stoploss: Rs 878

Possible changes in FDI rules for tobacco industry
FDI not allowed in tobacco, cigarettes aand cigar manufacturing

8. PNB (Sell)

Target: Rs 100
Stoploss: Rs 106

FITCH reduced viability rating to BB- from BB 
PNB under negative rating list now

9. Mahanagar Gas (Sell)

Target: Rs 915
Stoploss: Rs 954

7.5% block deal possible in the company
BG Asia Pacific Holdings to sell stakes
Mahanagar Gas to sell up to 12.5 percent stake

10. Oricon Ent (Buy)

Target: Rs 64
Stoploss: Rs 59

Deal with Indiabulls Realty

(Stocks mentioned here are for informational purpose. Consult your financial advisor before investing.)