The stock markets are likely to start Monday’s session on a positive note, with the SGX Nifty on Singapore Exchange trading 26 points higher at 10,940. Shares in the other Asian markets extended their bull run amid upbeat corporate earnings and strong global economic growth. MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.4 per cent, aiming for a 12th straight session of gains. Japan’s Nikkei rose 0.5 per cent and Hong Kong’s Hang Seng also rose 0.5 per cent. On Friday, Wall Street indices hit record closing highs with the S&P 500 jumped 1.2 per cent, its biggest daily percentage gain since March 1.
The Budget session of Parliament will commence on Monday. Finance Minister Arun Jaitley will table the Economic Survey 2018, a precursor to the Budget 2018-19, in Parliament. A flagship annual document of the Finance Ministry, Economic Survey reviews the developments of economy in the past 12 months.
On Thursday, the NSE Nifty had closed 16.35 points lower at 11,069.65. The BSE Sensex closed 111.20 points lower at 36,050.44. The markets were closed on Friday for Republic Day.
Simi Bhaumik, research analyst, shared her trading picks:
Buy L&T for a target price of Rs. 1,450 with stop loss at Rs. 1,395
Sell Motherson Sumi for a target price of Rs. 360 with stop loss at Rs. 375.ndtv