Sensex zooms on US Fed decision: What should traders 'buy' or 'sell'?

NEW DELHI: The S&P BSE Sensex surged over 600 points in morning trade on Thursday after the US Federal Reserve unexpectedly deferred its decision to continue with the stimulus programme.

All the sectoral indices were in the green; with banks, realty and auto stocks leading the rally on hopes of a dovish stance by the Reserve Bank of India Governor Raghuram Rajan at its policy review meet.

Tracking the momentum, the S&P BSE Sensex touched its highest level in 32 months, while Nifty recaptured its crucial level of 6000 and hits its peak since July 23, led by sharp short covering rally thanks to the US Federal Reserve postponing the winding down of its massive monetary stimulus.

At 11:30 a.m.; the 30-share index was at 20,472.93, up 510.77 points or 2.5 per cent. It touched a high of 20,567.61 and a low of 20,347.30 in early trade.

The Nifty was at 6,064.80, up 165.35 points or 2.8 per cent. The index hit its highest level since July 23 to hit an intraday high of 6,091.50 and a low of 6,040.15.

ET Now spoke to various experts for their top 20 ideas for today:-

Ashwani Gujral of ashwanigujral.com

Canara Bank is a 'BUY' call with a target of Rs 250 and a stop loss of Rs 233

Kotak Mahindra Bank Ltd is a 'BUY' call with a target of Rs 785 and a stop loss of Rs 758

Punjab National Bank is a 'BUY' call with a target of Rs 572 and a stop loss of Rs 540

Bank of Baroda is a 'BUY' call with a target of Rs 585 and a stop loss of Rs 550

Mitesh Thacker of miteshthacker.com

Canara Bank is a 'BUY' call with a target of Rs 255 and a stop loss of Rs 235

Shriram Transport is a 'BUY' call with a target of Rs 599 and a stop loss of Rs 574

Dena Bank is a 'BUY' call with a target of Rs 56 and a stop loss of Rs 51

Punjab national Bank is a 'BUY' call with a target of Rs 580 and a stop loss of Rs 532

Sandeep Wagle, Founder & MD, APTART Technical Advisory Services

Reliance Communications Ltd is a 'BUY' call with a target of Rs 162 and a stop loss of Rs 148

Aditya Birla Nuvo Ltd is a 'BUY' call with a target of Rs 1280 and a stop loss of Rs 1220

Bata India Ltd is a 'BUY' call with a target of Rs 860 and a stop loss of Rs 828

Prakash Gaba, CFT, prakashgaba.com

JSW Energy Ltd is a 'BUY' call with a target of Rs 48 and a stop loss of Rs 44

Reliance Industries Ltd is a 'BUY' call with a target of Rs 900 and a stop loss of Rs 880

State Bank of India is a 'BUY' call with a target of Rs 1900 and a stop loss of Rs 1740