Indian equity indices opened higher on Friday amid broad-based buying across sectors. The Sensex rose nearly 170 points to 32,350 while the Nifty50 index gained over 50 points to 10,148. Positive Asian shares also boosted sentiments. Asian stocks edged to a 10-year high on Friday on expectations of brisk global growth. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.15 per cent, having gained 3.6 per cent so far this month. Japan’s Nikkei edged up 0.2 per cent to another 21-year high. Among Nifty stocks, Bharti Airtel was the top gainer, up nearly 7 per cent at Rs. 430. Analysts say Bharti Airtel’s deal to acquire the consumer mobile business of Tata Teleservices and Tata Teleservices Maharashtra is earnings accretive. Bharti Infratel, Yes Bank, UltraTech Cement and Tata Steel were the other prominent gainers in the Nifty rising between 1.2 per cent and 4 per cent.
Market experts Lovelesh Sharma and Simi Bhaumik shared their trading calls.
Lovelesh Sharma of Epic Research:
Buy Castrol India for a target of Rs. 395 with stop loss at Rs. 360
Buy Balkrishna Industries for a target of Rs. 1,830 with stop loss at Rs. 1,700
Simi Bhaumik, research analyst:
Buy Balkrishna Industries for a target of Rs. 1,765 with stop loss at Rs. 1,695
Buy Hindalco Industries for a target of Rs. 272 with stop loss at Rs. 261