MARKETS LIVE: Sensex up 250 pts on global cues, Nifty reclaims 10,550

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SI Reporter | New Delhi Last Updated at February 7, 2018 09:30 IST

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Stock market turmoil: Here are the worst possible mistakes you can commit The year 2017 was a year of exceptionally low volatility in the markets. Equities kept rising without any major pullbacks. During this bull run, a large number of new investors climbed the equity mutual fund bandwagon. For these investors, the ongoing market correction — the Sensex is down 5.8 per cent from its all-time closing high on January 29) — will be the first big brush with volatility, and possibly a good correction. While it is natural to feel anxious, new investors should not compound their woes with mistakes. READ MORE Nifty Realty rebounds Sectoral Trend Top Sensex gainers and losers Markets at Open At 9:17 am, the S&P BSE Sensex was trading at 34,450, up 254 points while the broader Nifty50 was ruling at 10,573, up 75 points Top trading ideas by Prabhudas Lilladher BUY BERGER PAINTS CMP: Rs 241.50 TARGET: Rs 265 STOP LOSS: Rs 230 The stock has witnessed a correction from the peak of 280 to make a bottom at 232 levels where it has given a regular support base and recovered. We anticipate a regain of strength to scale upto 260-265 levels and with all the indicators at their oversold zone, the chart looks attractive and we recommend a buy in this stock for an upside target of 265 keeping a stop loss of 230. READ MORE

Markets rose on Wednesday, snapping 6-day losing streak as global markets recover from recent sell-off. On Tuesday, the Sensex plunged as much as 1,274 points on Tuesday after a rout in the US and other major markets. The index, however, managed to recoup more than half its losses as investors resorted to value buying following a sharp three-day correction.

Besides global cues, investors will also look forward to the outcome of the Reserve Bank of India's monetary policy review due at 2:30 pm IST.

The central bank is widely expected to keep its key rate on hold on Wednesday, but toughen its rhetoric as inflation has accelerated sharply, making an increasing number of analysts see a hike this year.

GLOBAL MARKETS

Asian share markets were trying to find their footing on Wednesday as a semblance of calm returned to Wall Street where major indices bounced into the black after days of deep losses.

MSCI’s broadest index of Asia-Pacific shares outside Japan climbed 1.7 per cent, recouping some of Tuesday’s 3.5 per cent fall. That had been its biggest daily drop since August 2015.

Chinese blue chips rallied 1.2 per cent and Japan’s Nikkei rebounded 3.1 per cent. The latter had slid 4.73 per cent on Tuesday for its steepest fall in 15 months.

(with inputs from Reuters)

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First Published: Wed, February 07 2018. 09:21 IST