MARKETS ON MONDAY: TCS market-cap hits $100 bn; Nifty ends below 10,600

Nifty closed at 10,585 levels. TCS market-cap hits $100 billion in intraday deals; but stock ends flat as investors book profit

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Markets pared their day’s gains to end largely flat on Monday amid weakness in their global peers as investors braced for a bevy of earnings from the world’s largest corporations, while keeping a wary eye on US bond yields as they approached peaks that had triggered ructions in the past.

The S&P BSE Sensex ended the day at 34,451, up 35 points while the broader Nifty50 index settled at 10,585, up 21 points.

Among individual stocks, Tata Consultancy Services (TCS)  became India’s first $100 billion information technology (IT) company in terms of market capitalisation (market-cap), after the stock of the IT bellwether hit a new high during the day. The stock had hit a new high of Rs 3,557.90 on NSE, up 4.57% in the intra-day trade, extending its Friday’s 6.7% surge, as the company reported better-than-expected March quarter earnings in post market hours on Thursday. However, the stock pared the day’s gains to end at Rs 3,395.90, down 0.19% from the previous close.

MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.1%, with South Korea off 0.2%. Japan’s Nikkei dithered either side of flat as tech stocks continued to struggle with a warning on waning demand for mobile phones.
On the geopolitical front, US President Donald Trump said on Sunday the North Korean nuclear crisis was a long way from being resolved, striking a cautious note a day after the North pledged to end its nuclear tests.
Back, home, Reserve Bank of India (RBI) Governor, Urjit Patel said the country’s growth is expected to accelerate next fiscal. Although the real GDP growth was moderated to 6.6% from 7.1% a year ago.
Meanwhile, a top Indian official has told the World Bank that India is poised to remain the fastest-growing large economy in the world and its GDP is expected to reach $5 trillion by 2025 as the economic reforms adopted in the last few years have started to bear fruit.
Investors also reacted to HDFC Bank’s earnings for the March 2018 quarter, announced on Saturday, April 21,2018. HDFC Bank’s net profit rose 20.3% to about Rs 48 billion for the quarter ended March 31, 2018, compared with Rs 40 billion in the year-ago period
(With inputs from Reuters)
  • 03:37 PM

    Nifty IT index up 0.7%; Top gainers from the pack

    COMPANY LATEST PREV CLOSE GAIN() GAIN(%) VOLUME
    TATA ELXSI 1204.75 1142.75 62.00 5.43 3784333
    HCL TECHNOLOGIES 1085.00 1062.35 22.65 2.13 4490123
    MINDTREE 999.70 979.85 19.85 2.03 8921125
    KPIT TECH. 246.60 243.10 3.50 1.44 3994887
    INFOSYS 1189.30 1178.45 10.85 0.92 10738186
  • 03:35 PM

    Sectoral Trend

  • 03:33 PM

    Top Sensex gainers and losers

  • 03:32 PM

    Markets at Close

    The S&P BSE Sensex ended the day at 34,450, up 35 points while the broader Nifty50 index settled at 10,584, up 20 points

  • 03:15 PM

    80 stocks gain over 25% in Sensex’s 2,000 points rally in past one month
    Shares of 80 companies have rallied more than 25% after the S&P BSE Sensex recovered more than 2,000 points in past one month. The S&P BSE Sensex hit an intra-day high of 34,664, rebounding 2,068 points or 6% from its recent low of 32,596 recorded on March 23, 2018. The Nifty 50 index too rose 6% to 10,638 from 9,998 levels one month ago.
  • 03:00 PM

    Salasar Techno gains 8% on repeat order of Rs 350 million from Reliance Jio
    Shares of Salasar Techno Engineering have moved 8% higher to Rs 385 per share, also their new high on the BSE, after the company said it has received new orders of Rs 490 million from leading telecom players in India and Nepal.
    The company received an order of Rs 350 million from Reliance Jio to supply 300 telecom towers, Salasar Techno Engineering said in a press release.
    The company also received export order of 100 telecom towers worth Rs 140 million to Nepal, it added.
  • 02:46 PM

    Volume Toppers

    COMPANY PRICE() CHG() CHG(%) VALUE( CR)
    TCS 3443.70 37.30 1.09 143.04
    LAURUS LABS 504.20 -4.45 -0.87 89.97
    MINDA CORP 202.50 27.30 15.58 75.07
    AJANTA PHARMA 1383.00 16.60 1.21 55.26
    INFOSYS 1188.00 9.75 0.83 54.06
  • 02:33 PM

    India tops emerging markets in foreign portfolio investor flows in 2018
    The Indian markets have managed to attract the highest foreign portfolio investor (FPI) flows among the emerging markets (EMs) this year. According to data, overseas funds have net purchased equities to the tune of $1.5 billion in the Indian markets so far in 2018. In comparison, most other EM peers have seen overseas investors pulling out money.
  • 02:17 PM

    Sebi proposed as regulator for spot commodity exchanges for gold, metals
    Spot commodity exchanges for gold, metals and even energy products like natural gas could see the light of day under the Securities and Exchange Board of India (Sebi) as the regulator.
    This has been recommended by a committee on the subject. It was appointed by the finance ministry under NITI Aayog member Ramesh Chand. The panel also suggests the “existing institutional infrastructure of commodity exchanges may also be utilised, to the extent possible, to create a spot exchange for commodities”. Regulation for spot commodity exchanges has been a contentious issue for some years. Especially after the National Spot Exchange fiasco, where a Rs 56-billion fraud was revealed in 2013.
    SEBI

    Photo: Reuters
  • 02:00 PM

    Market Check

    S&P BSE Sensex 34,615.69 Up 0.58%
    Nifty 50 10,632.25 Up 0.65%
    S&P BSE 200 4,674.07 Up 0.60%
    Nifty 500 9,405.30 Up 0.62%
    S&P BSE Mid-Cap 16,877.13 Up 0.47%
    S&P BSE Small-Cap 18,325.64 Up 0.81%
  • 01:47 PM

    Investors focus on long-dated options as 2019 election draw near
    Prashasta Seth, chief executive officer at IIFL Asset Management, said he was hoping to raise around Rs 20 billion to Rs 30 billion in his new fund offer. However, not all of that money would be allocated to capturing market gains. The IIFL Capital Enhancer Fund will invest four to five per cent of its assets in put options, with an option of increasing this to up to 8 per cent.
    “We will be investing in put options with an expiry of June 2019. There are many investors who would like to take exposure to equity. They are afraid of the uncertainty over the next year. This will allow them to do so while limiting their risk” he said.
  • 01:30 PM

    Danone’s loss is Parag’s gain: Are dairy MNCs facing challenges in India?

    Last week, French food-products major Danone put its India dairy chapter to rest with the sale of its Haryana unit to local player Parag Milk Foods. Danone’s exit, the second after New Zealand-based Fonterra Dairy in 2009, points to the challenges that global firms face in the world’s largest milk-producing nation
  • 01:17 PM

    TOP CONTRIBUTIORS TO SENSEX’S GAIN TODAY

    COMPANY LATEST CHG(RS) CHG(%) CONTRIBUTION
    (POINTS)
    TCS 3502.95 96.55 2.83 119.75
    RELIANCE INDS. 935.70 7.65 0.82 33.18
    H D F C 1839.80 8.15 0.44 31.32
    INFOSYS 1183.00 4.75 0.40 23.12
    SUN PHARMA.INDS. 514.15 8.75 1.73 23.08
  • 01:15 PM

    12 new IPOs to come up in June-quarter, analysts remain positive

    After raising Rs 843.57 bn through IPOs in FY18, 12 new companies are planning to garner Rs 170 bn in the next two months including names like HDFC Asset Management

  • 01:14 PM

    Bond investors dumbfounded after RBI’s surprising tilt towards rate hike

    A surprising hawkish tilt by India’s central bank in its April minutes has left money managers dumbfounded, prompting them to seek a higher risk premium for holding the nation’s bonds. The benchmark 10-year yield jumped as much as 17 basis points Friday, and ended last week 29 basis points higher, as minutes of the Reserve Bank of India’s April 4-5 meeting boosted speculation policy makers are moving toward raising interest rates.
  • 01:01 PM

    Nifty IT index surges 13% in April; TCS soars 25% in 16 trading days
    Shares of information technology (IT) companies were in focus with the Nifty IT index hitting new high on Monday, after the sector giant Tata Consultancy Services (TCS) reported a better than expected March quarter (Q4FY18) results.
    Nifty IT index, the largest gainer among sectoral indices, was up 1.7% at 14,141, as compared to 0.39% rise in the Nifty 50 index. The index hit a new high of 14,245 in intra-day trade today, has outperformed the market by surging 13% thus far in the month of April. On comparison, the benchmark index was up 5% thus far in the current month.
  • 12:45 PM

    SPECIAL REPORT  700% rally in 10 years and $100-bn m-cap, but TCS still lags among IT peers
    Tata Consultancy Services (TCS) hit a record high of Rs 3,557 on the NSE in intra-day deals on Monday, sending its market-capitalisation (market-cap) above the $100 billion mark. It is the first time ever that an Indian company has achieved this feat.
    Despite the surge and the fact that TCS is now the most valued Indian company basis its market-cap, the stock still lags its peers in the information technology sector in terms of absolute returns in the past decade.

    Photo: @TCS_News
  • 12:31 PM

    Lemon Tree Hotels hits new high since listing; stock soars 30% in 3 days
    Lemon Tree Hotels rallied 7% to Rs 89.80, extending past two days 23% surge on BSE, after the company said its arm signed three management contracts in the state of Uttarakhand. The stock is trading at its highest level since listing on April 9, 2018. It zoomed 60% against its issue price of Rs 56 per share.
  • 12:21 PM

    NEWS ALERT PPFAS Mutual Fund launches Parag Parikh Liquid Fund

    PPFAS Mutual Fund, sponsored by Parag Parikh Financial Advisory Services Pvt. Ltd. today announced the launch of a new scheme ‘Parag Parikh Liquid Fund’. The Investment objective of the scheme is to generate reasonable return with lower risk and high liquidity through judicious investments in money market and debt instruments.

    The scheme will invest 80-100 per cent in Money Market instruments (including cash, repo, CPs, CDs, Treasury Bills, CBLO and Government Securities with maturity/ residual maturity up to 91 days). It would further allocate 0-20 per cent in Debt Instruments (including Floating rate debt instruments and securitised debt with maturity/residual maturity up to 91 days
  • 12:15 PM

    BS SPECIAL What will be the impact of physical delivery of stock derivatives?
    The Sebi’s decision to make physical delivery of stock derivatives mandatory will have multiple knock-on effects across cash and derivatives segments. Many of those consequences would be negative.
    India has an extremely active stock futures market, and a less-active but still-liquid stock options market, with all contracts cash-settled. High liquidity enables efficient price-discovery and leads to tight spreads between bids and asks.
  • 12:01 PM

    Market at Noon

    S&P BSE Sensex 34,516.14 Up 0.29%
    Nifty 50 10,606.55 Up 0.40%
    S&P BSE 200 4,664.66 Up 0.40%
    Nifty 500 9,388.45 Up 0.44%
    S&P BSE Mid-Cap 16,874.25 Up 0.45%
    S&P BSE Small-Cap 18,305.24 Up 0.70%
  • 11:58 AM

    Prabhudas Lilladher on HDFC Bank

    Loan growth trajectory should be strong ahead, liability franchise remains robust and stable margins to help better NII growth. Also, fees have started to contribute to income but credit cost to remain at 60-65bps of loans leading to an earnings CAGR of 20-21% with strong return ratios. Retain BUY with increased target price of Rs2,251 (up from Rs2,136) based on 4.3x Mar-20 ABV (rolled from Sep-20). Remains as one of our top  picks in a challenging environment.

  • 11:56 AM

    MUST READ TCS Q4FY18 results review: What leading brokerages say

    Thus far in calendar year 2018 (CY18), TCS has outperformed the markets with a gain of over 18 per cent. In comparison, the Nifty IT and the Nifty 50 indices have moved up 13 per cent and 0.3 per cent respectively, ACE Equity data shows.
    Given the outperformance and the stellar Q4FY18 results, is it a good time to buy the stock? Here’s what leading brokerages and research houses suggest
  • 11:55 AM

    Motilal Oswal Research on HDFC Bank

    HDFC Bank has been consistently gaining market share across most products in the retail segment (personal loans, business banking, credit cards and auto loans), and the upcoming capital raise will enable it to sustain this growth momentum. Operating expenses have been under control, and significant digital initiatives have led to a consistent decline in the C/I ratio to ~40%. We have built in Rs 240 billion of capital raise in FY19 and arrive at a target price of Rs 2,400 at 4.0x Mar-20E ABV for the bank. Maintain Buy.
  • 11:54 AM

    Edelweiss on HDFC Bank

    HDFC Bank’s Q4FY18 earnings sustained 20% YoY growth momentum but core operating profit growth was softer—up <25% versus 30% plus over the past couple of quarters. The miss was due to sharp moderation in loan growth (sub-20% YoY); surprising given better market opportunities in corporate segment (PSU fallout). Meanwhile, deposits grew a strong 13% QoQ, which along with capital raising will provide growth runway to the bank.

    Asset quality held in good stead amidst concerns over RBI’s recent recognition norms. Key monitorables: a) loan growth returning to ~25% driving core NII growth; and b) sustenance of NIMs at ~4.3% with recent dip in CD ratio. Best-in-class franchise, marginal stress baggage and proposed equity raising (pending government approval) place HDFC Bank in a sweet spot to capitalise on emerging opportunities. Maintain ‘BUY’

  • 11:45 AM

    Is Bharat-22 ETF a good bet? Here is a look at its pros and cons
    The government is planning a follow-on offer of the Bharat-22 Exchange Traded Fund (ETF). ICICI Prudential Mutual Fund has filed draft papers.
  • 11:30 AM

    Stocks at 52-week high

    COMPANY LATEST 52 WK HIGH PREV HIGH PREV DATE VOLUME
    ASHOK LEYLAND 156.80 157.55 155.50 20-APR-2018 445980
    FIRSTSOUR.SOLU. 60.70 61.00 60.50 20-APR-2018 529195
    HCL TECHNOLOGIES 1090.95 1099.60 1073.35 20-APR-2018 63209
    HEXAWARE TECH. 440.60 444.00 438.60 20-APR-2018 67373
    HIND. UNILEVER 1453.80 1470.00 1469.80 20-APR-2018 4556
  • 11:15 AM

    Rupee more sensitive to FPI inflow as FDI falls: Michael Sneyd, BN Paribas
    Michael Sneyd, global head of foreign exchange strategy and cross-asset strategist at BNP Paribas, the Paris-based financial group, tells Indivjal Dhasmana the rupee has depreciated three per cent in 2018 and the 10-year bond in value by four per cent. This has wiped out one year’s yield of the bond. Even then, he says, foreign investors have more favourable views of bonds than equities in India.
  • 11:01 AM

    Sasken Technologies shares hit record high on strong Q4 results
    Shares of Sasken Technologies hit a record high of Rs 860 per share, up 14% on the BSE in early morning trade, after the company reported a strong 27.5% sequential growth in consolidated net profit at Rs 259 million in March 2018 quarter (Q4FY18), on back of healthy operational performance. Consolidated revenues during the quarter under review declined 2.4% at Rs 1,287 million over the December 2017 quarter (Q3FY18).
  • 10:45 AM

    Metal headache: Commodity rally will put pressure on operating margins
    The recent rally in metal prices would prove expensive for India Inc, which is still recovering from the demand shock and economic disruption caused by demonetisation and the roll-out of the goods and services tax. Analysts expect cuts in corporate margins in the forthcoming quarters, given the negative correlation between metal prices and operating margins of domestic manufacturers.
  • 10:30 AM

    TCS becomes first Indian company to cross $100 bn in market-cap
    Tata Consultancy Services (TCS) has become the first Indian $100 billion- dollar company in terms of market capitalisation (market-cap), after the stock of the IT bellwether hit a new high on Monday.
    The stock hit a new high of Rs 3,499, up 2.7% in intra-day trade, extending its Friday’s 6.7% surge, as the company reported better-than-expected March quarter earnings in post market hours on Thursday. TCS also announced 1:1 bonus shares i.e. one bonus shares of Rs 1 face value each for every share held in the company to its investors.
    TCS

    Tata Consultancy Services (TCS) Chief Executive Officer Rajesh Gopinathan (Photo: Reuters)
  • 10:10 AM

    TCS stock up nearly 3%

  • 10:04 AM

    NEWS ALERT TCS’ market-capitalisation (m-cap) hits $100 billion. Only Indian company to achieve this feat. Stock trades higer by 2%

  • 10:03 AM

    Market Check

    S&P BSE Sensex 34,412.46 Up -0.01%
    Nifty 50 10,566.70 Up 0.03%
    S&P BSE 200 4,651.84 Up 0.12%
    Nifty 500 9,358.50 Up 0.12%
    S&P BSE Mid-Cap 16,819.26 Up 0.12%
    S&P BSE Small-Cap 18,244.89 Up 0.37%
  • 09:53 AM

    Unichem Labs up 9% as USFDA completes Ghaziabad plant with no observations
    Shares of Unichem Laboratories have surged 9% to Rs 283 per share on the BSE in early morning trade after the pharmaceutical company said it has not received any observations from US health regulator following completion of inspection of the company’s facility in Ghaziabad, Uttar Pradesh.
  • 09:41 AM

    Nomura on TCS

    We retain Reduce as we find valuations expensive at ~20x FY20F and see risk to street expectations of ~double-digit constant currency (CC) revenue growth and flattish margins. Our caution stems from: 1) large segments US/BFSI remaining weak, growing at low- to mid-single digits y-y, with clarity on BFSI still a quarter away amid risks from insourcing at large US Banks.

    We look for CC revenue growth of 8.5%/7% over FY19/20F; and 2) margins missed expectations despite revenue beat and risks remain from wage hikes, impact of large insurance deals with takeover of ~5,200 people (~4,500 onsite), legacy pricing pressure and need to realign onsite staff in view of US immigration tightening.

  • 09:35 AM

    Interview of the Day Markets can correct up to 15% from current level: IIFL chairman Nirmal Jain
    Besides global developments, markets are now eyeing the outcome of the Assembly election in Karnataka scheduled for May 2018. Nirmal Jain, founder and chairman of IIFL Group, in conversation with Puneet Wadhwa and Vishal Chhabriasaid he expected the markets to remain volatile, as they have the curiosity to assess election outcomes in advance.

    nirmal jain, iifl group

    Nirmal Jain, founder and chairman of IIFL Group
  • 09:21 AM

    Sectoral Trend

  • 09:19 AM

    BSE Sensex gainers and losers

  • 09:17 AM

    Market at open
    At 9:16 AM, the S&P BSE Sensex was trading at 34,424, up 9 points while the broader Nifty50 was ruling at 10,572, up 8 points.
  • 09:12 AM

    CIMB on TCS results

    We raise FY19F-20F EPS by 3% for improving demand, margin management and currency. We think TCS deserves premium valuation over its peers given its expected higher organic US$ sales/earnings growth in FY19F. However, we believe the recent runup in share price has factored this in. Maintain Hold, with a higher target price of Rs 3240, based on one-year forward P/E of 19x (5-year mean) vs. 17x earlier for improving sales/earnings growth.
  • 09:10 AM

    IDBI Capital on HDFC Bank

    HDFC Bank delivered another stable performance, with its numbers largely in line with our expectations. GNPAs are around 1% consecutively for each of the past eight years, whereas restructured loans were miniscule. It has marginal exposure to only two accounts of the forty accounts mentioned by the RBI. Its CASA deposit franchise is strongest among peers. We are structurally positive on HDFCB considering its healthy asset quality, superior deposit franchise and credit underwriting, structurally better NIM and the ability to maintain RoA at ~2.0% and RoRWA at ~2.5% in the long run.
    In times of gigantic deterioration in asset quality for corporate peer bank, preference toward high quality retail banks will continue to remain. As a result premium valuation for HDFCB is fairly justified in our opinion. We value HDFC Bank at 4.4x P/ABV FY19E (30% premium to mean valuations) deriving a target price of Rs2,400 with a BUY rating.
  • 09:09 AM

    Corporate News
    ·         Cipla’s Pithampur plant gets three observations from U.S. FDA
    ·         U.S. FDA concludes the inspection of Unichem Labs’ Ghaziabad facility with no observations
    ·         Coal India plans 41.5 million tons forward coal auctions in the current financial year
    ·         Axis Bank commenced succession process for a new CEO and MD. Appoints Egon Zehnder to for process
    ·         SJVN signs accord with power ministry and aims to achieve 9,200 million units in financial year 2019
    ·         RIL says it is not aware of any further investigation undertaken by the I-T department regarding the Rs 6,500-crore foreign direct investment by Biometrix in the company’s group entities
    ·         Adani Enterprises forms a joint venture with Prakash Asphaltings for Bilaspur Pathrapali Road Private Ltd. in the ratio of 74:26
    ·         Indian Hume Pipe Company secures Rs 578.50 crore order from Madhya Pradesh Jal Nigam Maryadit
    ·         Kitex Garments Board to meet on April 25, 2018 to consider proposal for further investments
    ·         India Ratings upgrades HEG Limited’s Long-Term Issuer Rating to ‘IND AA’ from ‘IND A+’. The Outlook is Stable
    ·         Orchid Pharma says committee of creditors have rejected all three bids for the company
    ·         Morepen Labs appeals to NCLAT against the order passed by NCLT, Chandigarh bench.
    ·         Electrosteel Steels says steering committee was set up as per resolution plan
    ·         Lenders of Nagarjuna Oil Corporation decide that the company should go for liquidation
  • 09:04 AM

    Markets at pre-open

    Index Current Pt. Change % Change
    S&P BSE SENSEX 34,679.93 +264.35 +0.77
    S&P BSE SENSEX 50 11,194.38 +131.51 +1.19
    S&P BSE SENSEX Next 50 34,516.67 +67.04 +0.19
    S&P BSE 100 11,093.98 +114.61 +1.04
    S&P BSE Bharat 22 Index 3,602.25 +29.18 +0.82
  • 09:01 AM

    Real GDP growth may expand to 7.4% in 2018-19: RBI Governor
    Reserve Bank of India (RBI) Governor, Urjit Patel, has said the country’s growth is expected to accelerate next fiscal. Although the real GDP growth was moderated to 6.6 percent from 7.1 percent a year ago, there was a strong rebound in the second half of the year on the back of a turnaround in investment demand, he said.
  • 08:56 AM

    Petrol price hit highest level
    Petrol price on Sunday hit Rs 74.40 a litre – the highest level while diesel rates touched a record high of Rs 65.65, renewing calls for cut in excise duty to ease burden on consumers. The hike, necessitated due to firming international oil prices, comes on back of a 13 paisa increase in rates of petrol effected yesterday and a 15 paisa hike in diesel, it said.
    Petrol in the national capital now costs Rs 74.40 a litre, the highest since September 14, 2013 when rates had hit Rs 76.06. Diesel price at Rs 65.65 are the highest ever.
  • 08:55 AM

    Oil prices dip on increased US drilling activity, but sentiment remains bullish
    Oil prices dipped on Monday as a rising U.S. rig count pointed to further increases in the country’s output, underlining one of only a few factors holding back crude markets in an otherwise bullish environment.
    Brent crude oil futures were at $73.89 per barrel at 0056 GMT, down 17 cents, or 0.2%, from their last close. US West Texas Intermediate (WTI) crude futures were down 21 cents, or 0.3%, at $68.19 a barrel.

  • 08:53 AM

    MARKET COMMENT Amar Ambani, head of research, IIFL

    The stock market, which rallied around 6pc in the past four weeks, could be headed for a choppy ride. The market will keep a track on earnings, F&O expiry, rupee movement and oil prices. The Indian indices managed gains despite weak global cues and crude oil hitting multi-year highs. Friday’s session saw the indices end weaker and the sentiment is likely to remain the same at start today.

    Bharti Infratel, Reliance Infrastructure and LIC Housing Finance are set to announce their numbers today. HDFC Bank will be in focus after it announced its Q4 numbers on Saturday. Wall Street ended lower due to concerns over rise in bond yields. Asian stocks are muted. North Korean leader Kim Jong Un said he would halt nuclear tests and intercontinental missiles and instead pursue economic growth and peace

  • 08:50 AM

    Technical calls by Prabhudas Lilladhar
    BUY LUPIN 
    CMP : Rs 797
    TARGET : Rs 880
    STOP LOSS : Rs 750
    The stock has given a positive candle moving above the 34WMA moving average indicating a positive bias to rise further with potential and strength. The stock has been consolidating for quite some time at around 770 levels and now we anticipate it to give a breakout above the previous peak of 820 and scale further upward. With good volume activity witnessed, we recommend a buy in the stock for an upside target of 880 keeping a stop loss of 750.
  • 08:46 AM

    Nifty outlook by Prabhudas Lilladher
    Nifty & Bank Nifty have its weekly trend up since 3 weeks while daily trend in Nifty continues to be positive while Bank Nifty is down since 3 days. Market is likely to consolidate at these levels with indicators for now showing no signs of correction. The support for the day is seen at 10380 while resistance is seen at 10725.
  • 08:42 AM

    Stock Picks by Devang Shah
    DHFL- BUY
    CLOSE – Rs 584
    TARGET – Rs 610/635
    NTPC- BUY
    CLOSE – Rs- 174.50
    TARGET – Rs 180/185
  • 08:38 AM

    Nifty outlook by Devang Shah
    Short-term outlook for the market remains positive till Nifty trades above 10,111 levels and expecting targets in the range of 10,700-10,800 levels in short term. Medium term outlook for the market remains positive till Nifty trades above 8,968 levels and expecting targets in the range of 12,000-12,200 levels in medium term.
    10,400-10,500 & 10,700 levels is strong support & resistance levels range respectively based on option open interest data so far for expiry perspectives next week. Market will remain very volatile ahead of Result season this month.
  • 08:34 AM

    Markets on Friday

    S&P BSE Sensex 34,415.58 Up -0.03%
    Nifty 50 10,564.05 Up -0.01%
    S&P BSE 200 4,646.30 Up -0.10%
    Nifty 500 9,347.65 Up -0.09%
    S&P BSE Mid-Cap 16,798.94 Up -0.44%
    S&P BSE Small-Cap 18,178.03 Up 0.02%
  • 08:30 AM

    SGX Nifty
    Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 56 points or 0.53%
  • 08:25 AM

    Asian stocks subdued

    Asian stocks started in muted fashion on Monday as investors braced for a bevy of earnings from the world’s largest corporations, while keeping a wary eye on US bond yields as they approached peaks that had triggered ructions in the past.
    In stock markets, MSCI’s broadest index of Asia-Pacific shares outside Japan  dipped 0.1%, with South Korea off 0.2%.
    Japan’s Nikkei dithered either side of flat as tech stocks continued to struggle with a warning on waning demand for mobile phones.
  • 08:24 AM

    US markets end lower
    Wall Street’s three major indexes declined on Friday as investors worried about a jump in US bond yields, with technology stocks leading the decline on nerves about upcoming earnings reports and iPhone demand.
    The Dow Jones Industrial Average fell 202.09 points, or 0.82%, to 24,462.8, the S&P 500 lost 22.98 points, or 0.85%, to 2,670.15 and the Nasdaq Composite dropped 91.93 points, or 1.27%, to 7,146.13.
Source business-standard.com
Via business-standard.com

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