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Trading Calls: Buy Hindalco, Bharat Petroleum, Says Expert

A sharp moderation in retail inflation over the past few months has brightened hopes for further monetary policy easing from the RBI.
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Gains were led by banking, energy, realty and consumer durables shares
Gains were led by banking, energy, realty and consumer durables shares
Indian shares started Wednesday's session on a positive note, with the Nifty index hitting a fresh peak of 10,137 and the BSE Sensex gaining over 100 points. All eyes were on the Reserve Bank of India's third bi-monthly policy statement later in the day. A sharp moderation in retail inflation over the past few months has brightened hopes for further monetary policy easing from the central bank. Gains were led by banking, energy, realty and consumer durables shares - up between 0.2 per cent and 0.8 per cent per cent in morning deals. Among the top Nifty gainers were Hero MotoCorp, NTPC, Lupin, Bosch and HCL Tech. However, upside was capped due to some selling witnessed in FMCG and metal shares - trading 0.4-0.8 per cent lower. Shares in the other Asian markets held near decade-highs. MSCI's broadest index of Asia-Pacific shares outside Japan was steady in early trade, having hit its highest since late 2007. Japan's Nikkei rose 0.5 per cent.

Research analyst Simi Bhaumik shared her top trading bets for the day:

Buy Hindalco for a target price of Rs 230 with stop loss at Rs 222

Buy BPCL for a target price of Rs 496 with stop loss at Rs 477

Disclaimer: Investors are advised to make their own assessment before acting on the information.

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