Sensex, Nifty end near yesterday's closing level

The market is pricing in double-digit earnings growth over the next few years   -  PAUL NORONHA

Tata Steel jumps 5.50% with volumes reaching 1.89 crore shares on NSE

Closing Bell

Key market indices ended almost flat on the back of selective buying and selling in equities. Equities turned mixed in their movements following alternative buying and selling from investors and traders.

Earlier, equities started the day on a promising note before profit selling emerged in the mid-session.

Among the sectoral indices Automotive, IT, Pharma and PSU Banks ended in the red following moderate sell-off. However, Metals, Media, Realty and Private Banks stocks gave enough support to the overall markets.

The barometer index, the BSE Sensex ended the day at 39,112.74, up 66.40 points, or 0.17%, from yesterday's closing level at 39,046.34.

On the NSE, the Nifty 50 index ended flat at 11,691.45. During the session, the index remained volatile as it traversed between a high of 11,802.50 and a low of 11,625.10.

Auto stocks witnessed selling pressure following weaker sales in the month of May. Hero MotoCorp (down 2.17%), Ashok Leyland (down 0.75%), Bajaj Auto (down 1.15%) and TVS Motor Company (down 2.73%), edged lower, and Maruti Suzuki India (down 0.76%) on the NSE.

Pharma stocks hit hard

Pharma stocks declined following a sell-off following a report that the Bureau of Pharma PSUs of India (BPPI), which implements the Centre’s flagship affordable medicine scheme PMBJP, has found 25 batches of drugs of 18 different pharmaceutical companies to be of substandard quality since January 2018.

Wockhardt (down 8.50%), Sun Pharmaceutical Industries (down 0.80%), Piramal Enterprises (down 6.75%), Glenmark Pharmaceuticals (down 3.45%), Aurobindo Pharma (down 1.95%), Dr. Reddy Laboratories (down 1.63%), Lupin (down 0.79%) and Cipla (down 2.60%).

 

The bitter side of India’s pharma story

A stinging description of allegedly poor manufacturing practices at some of India’s big pharma firms

Read More  

25 batches of drugs of 18 Pharma companies found substandard since Jan 2018 by BPPI

The Bureau of Pharma PSUs of India (BPPI), which implements the Centre’s flagship affordable medicine scheme PMBJP, has found 25 batches of drugs of ...

Read More  

3.15 pm

Broker's call: Finolex Cables (Long)

Equirus Securities

Finolex Cables (Long)

CMP: ₹449

Target: ₹555

Finolex Cables is a manufacturer of electrical and communication cables, and copper rods. The company's business segments include electrical cables, communication cables, copper rods and others.

Finolex Cables 4Q revenues grew 3 per cent y-o-y to ₹820 crore, which were 6 per cent below EE. Revenues for the Electrical Cables Segment (ECS) were up 6 per cent y-o-y [in line with Equirus estimate(EE)], but the communication cables segment (CCS; -15 per cent y-o-y) was hit by delays in order releases.

READ MORE

Finolex Cables (₹393.2): Buy

The stock of Finolex Cables gained 3 per cent on Wednesday, moving above its 21-day moving average line. There are signs of optimism. Traders with a ...

Read More

Finolex Cables net falls 32% in Q4

Finolex Cables Ltd has posted a net profit of Rs 46.86 crore for the quarter ended March 31, 2015 compared to Rs 69.31 crore for the quarter of 2014.

Read More  

3.05 pm

Huge wall of maturing debt looms for NBFCs

Facing a record amount of debt that is about to mature, India’s non-bank financing companies (NBFCs) are finding their troubles worsening as a crisis of credibility starts to bite.

The shadow lenders, which have been under increased strain after the collapse of IL&FS Group last year, have a record Rs 1,10,000 crore ($15.8 billion) of local-currency bonds due next quarter.

Major NBFC entities are being closely monitored by the RBI   -  Getty Images/iStockphoto

 

2.50 pm

 

SENSEX STOCKS

 

2.45 pm

Alternative investment funds: India’s new $40 billion time-bomb for investors

Exotic funds, designed for wealthy investors, have grown to $40 billion from nothing in just seven years, expanding by 71% in the 12 months through March. Since September, when the surprise bankruptcy of infrastructure financier IL&FS Group triggered a refinancing squeeze for property developers, investors have committed an additional $9 billion to these so-called alternative investment funds.

READ MORE

 

2.20 pm

OI SPURTS WITH SLIDE IN PRICE ON NSE

OI SPURTS WITH SLIDE IN PRICE on NSE

 

2.15 pm

OI SPURTS WITH RISE IN PRICE ON NSE

OI SPURTS WITH RISE IN PRICE on NSE

 

2.05 pm

Huge wall of maturing debt looms for NBFCs

Facing a record amount of debt that is about to mature, India’s non-bank financing companies (NBFCs) are finding their troubles worsening as a crisis of credibility starts to bite.

The shadow lenders, which have been under increased strain after the collapse of IL&FS Group last year, have a record Rs 1,10,000 crore ($15.8 billion) of local-currency bonds due next quarter, according to data compiled by Bloomberg.

 

Why the NBFC crisis is entering a new phase

Just as Indian banks emerge from under a pile of bad loans to large energy, steel and other industrial companies, they are facing a new reckoning from ...

Read More

NBFC crisis to pull down home loan growth first time in three years: Report

Housing finance growth is set to slow down to 13-15 percent this fiscal, lower than the average of the past three years, due to the lingering ...

Read More  

1.50 pm

M&M down 2% on price hike move

 

Auto major Mahindra & Mahindra (M&M) Wednesday said it will hike price of its range of personal vehicles by up to Rs 36,000 across models with effect from July 1.

“This price increase is due to the implementation of AIS 145 safety norms across all passenger vehicles in India,” the company said in a BSE filing. The stock of Mahindra & Mahindra lost nearly 2 per cent to Rs 613.70 on the NSE today.

Mahindra launches new Bolero Camper Range

Offers higher comfort, convenience, premium interiors

Read More

Mahindra to observe no production days for up to 13 days this quarter

Mahindra & Mahindra (M&M) on Saturday said it will shut production across plants for up to 13 days in the ongoing quarter to adjust to market ...

Read More  

1.40 am

Jain Irrigation plummets 24% on rating outlook

Jain Irrigation shares plummeted 24 per cent to Rs 21.80 on the NSE today after India Ratings has cut its long term issuer Rating to BBB with outlook at 'Watch Negative'.

The downgrade reflects deterioration in the liquidity profile on account of delay in realisation of receivables from its micro-irrigation systems (MIS) segment.

 

Jain Irrigation says not defaulted on debt obligation

The company is confident of executing its plan to bring down the debt by Rs 2,000 crore

Read More

Jain Irrigation Systems slumps on dry Q4 results

Shares of irrigation equipment maker Jain Irrigation Systems Ltd fell as much as 11 per cent to ₹48.4; their biggest intraday loss in nearly 4 months.

Read More  

1.30 pm

Mid-session

Stock market indices pared gains in the afternoon trading session. The market started the day on a strong note before profit selling emerged in mid-morning trade.

At 1:30 pm, the barometer index, the BSE Sensex, was up 85.82 points or 0.22% at 39,132.16. The Nifty 50 index was up 14.55 points at 11,706.05.

Auto stocks witnessed selling pressure following weaker sales in the month of May. Hero MotoCorp (down 1.48%), Escorts (down 0.88%), Ashok Leyland (down 0.66%), Bajaj Auto (down 0.57%) and TVS Motor Company (down 0.43%), edged lower, while Eicher Motors (up 1.18%) and Maruti Suzuki India (up 0.52%), edged higher.

 

Nifty Auto index

 

1.20 pm

Quick Heal Technologies jump 4% on buyback program

 

Quick Heal Technologies stock rose nearly 4 per cent to Rs 160.15 on the NSE today after the company clarified that promoters had tendered 4.2 million shares as part of the buyback program and not sold the same.

To clarify further, the promoters have not tendered their 100% holding in the buyback. Consequently, post buyback, their shareholding in the company has gone up from 72.32% (pre-buyback) to 72.83% (post-buyback).

 

Buyback: Quick Heal, Mazda boards to meet

The respective boards of Quick Heal Technologies (on Monday) and Mazda (on Tuesday) will meet to consider buyback proposals. Shareholders of these ...

Read More  

Quick Heal Sept quarter net up 9.4% to Rs 42.1 cr

IT security firm Quick Heal on Monday reported about 9.4 per cent rise in consolidated net profit at Rs 42.1 crore for the quarter ended September ...

Read More  

1.10 pm

Nifty Metal index

Nifty Metal Stocks

 

12.35 pm

Jet Airways shares dwindle further; tank over 23 per cent

Shares of Jet Airways further plummeted over 23 per cent on Wednesday after the consortium of bankers took the grounded airline to the National Company Law Tribunal.

The scrip continued to face heavy selling pressure and tanked 28.18 per cent to an all-time low of Rs 29.05 on the BSE.

At the NSE, shares of the company plunged 29.38 per cent to an all-time low of Rs 28.60.

 

With Jet Airways stranded, banks mull steeper provisions

Lenders are better off making accelerated provisioning in case of liquidation: Experts

Read More

Unhappy with move to NCLT, Jet employees to meet FinMin

Staffers to once again put forward management takeover proposal

Read More

Jet Airways – Wings clipped

The stock of the beleaguered Jet Airways went into free-fall last week, tanking about 35 per cent, taking the loss over a year to almost 80 per cent.

Read More  

12.20 pm

Granules, Blue Star among top gainers

 

Granules India Ltd spiked 7.30% to Rs 97.85 at 12:10 pm on the NSE. The stock was the biggest gainer today. On the NSE, over 10.10 lakh were traded on the counter.

Blue Star Ltd surged 4% to Rs 784.70 on the NSE. The stock was among the top gainers on the NSE and BSE. At 12.15 pm, on the NSE, over 65,535 shares were traded on the counter.

 

Granules gets USFDA nod for ADHD treatment drug

Drug firm Granules India on Monday said its subsidiary has received approval from the US health regulator for Methylphenidate Hydrochloride ...

Read More

Granules India Q4 profit zooms over 3-fold to Rs 64 cr

Drug firm Granules India on Thursday reported over three-fold jump in consolidated net profit to Rs 64.03 crore for the March quarter of 2018-19, ...

Read More

Blue Star eyes Rs 120 cr from water purifiers biz this fiscal

Airconditioner-maker Blue Star Ltd, which forayed into the water purifier business in 2016, has set a target revenue of Rs 120 crore from it during ...

Read More  

12.05 pm

Star Cement shares up 3% on share buyback plan

Star Cement stock rose 3 per cent to Rs 121.90 on the NSE today. Volumes traded in the counter were 1,03,676 shares as at 11.55 am

The stock went u after the company announced that it planned to propose share buyback to the extent of either 10% or 25%, which will be decided in the forthcoming board meeting later this week.

 

11.50 am

Investors most bearish on global stocks since 2009: BAML

Investors haven't been this bearish on stocks since early-2009 when the world was in the throes of the financial crisis triggered by the Lehman Brothers collapse, Bank of America Merrill Lynch's (BAML) June fund manager survey showed.

Results of the monthly survey, released on Tuesday, showed funds' allocation to global equities dropped by 32 percentage points from May to a net 21 per cent underweight. This is the lowest allocation to stocks since March 2009 and the second-biggest one-month drop on record.

READ MORE

Stock markets move limited before US’ July 6 tariffs deadline. File Photo   -  Reuters

 

11.45 am

Gulf Oil,  Aster DM Healthcare volumes spurt on BSE

 

Gulf Oil Lubricants India Ltd notched up volume of 3.96 lakh shares at 11:35 am on the BSE, a 368 fold spurt over two-week average daily volume of 1,075 shares. The stock slipped 0.34% to Rs.896.85.

Aster DM Healthcare Ltd clocked volume of 20,225 shares by 11:30 IST on the BSE, a 4.66 times surge over two-week average daily volume of 4,336 shares. The stock gained 1.85% to Rs.136.70 on the BSE.

 

Gulf Oil ropes in Mahindra Logistics

Gulf Oil Lubricants India on Monday announced its association with Mahindra Logistics. The tie-up is to strengthen Gulf Oil’s supply chain and ...

Read More

 

Aster DM Healthcare Q4 net up 7% to Rs 219 cr

Healthcare services provider Aster DM Healthcare on Tuesday reported a 7.12 per cent increase in consolidated net profit at Rs 219.84 crore for the ...

Read More

Aster DM Healthcare plans expansion

Healthcare service provider Aster DM Healthcare is looking at investing ₹1,000 crore by 2021 to expand its facilities across the country. The company ...

Read More  

11.30 am

Can Fin Homes rises 3% on sale stake by Canara Bank

 

Can Fin Homes stock rose 3% to Rs 354.30 on the NSE today after its parent firm Canara Bank received an approval to sell stake in the home financing company. Volumes traded in the counter were 14.72 lakh shares as at 11.30 am on the NSE.

 

Broker's Call: CanFin Homes (Buy)

CD EquisearchCanFin Homes (Buy)CMP: ₹322.5Target: ₹417Liquidity crunch has crimped credit growth for housing finance companies and is unlikely to ...

Read More

 

CanFin Homes (₹289.2): Buy

Investors with a short-term perspective can buy the stock of CanFin Homes at current levels. On Wednesday, the stock gained 4.5 per cent accompanied ...

Read More  

11.25 am

₹2251 • Buy TCS with a fixed stop-loss

 

 

S1

 

S2

 

R1

 

R2

 

COMMENT

2230221022702290

 

Initiate fresh long positions with a fixed stop-loss if the stock of TCS reverses higher from ₹2,230 levels

 

11.10 am

Rupee rises against USD in early trade

The rupee appreciated by 21 paise to 69.49 against the US dollar in opening trade on Wednesday ahead of the US central bank’s meeting.

The rupee opened strong at 69.57 at the interbank forex market then gained further ground to touch 69.49 per dollar, displaying gains of 21 paise against the greenback.

READ MORE

Now, you can buy forex at spot rate

The RBI is creating a platform for retail investors to buy and sell forex in the inter-bank market

Read More  

11.05 am

₹750 • Buy Infosys on declines with stop-loss at ₹742 levels

 

 

S1

 

S2

 

R1

 

R2

 

COMMENT

742735758765

 

Make use of intra-day declines to buy the stock while maintaining a fixed stop-loss at ₹742 levels

 

Infosys to announce Q1 results on July 12

Software services firm Infosys will announce its financial results for April-June quarter on July 12, according to a BSE filing. “A meeting of the ...

Read More

Weekly Trading Guide

SBI (₹343.8)SBI was stuck in a narrow range between ₹339 and ₹349 last week. The near-term outlook is mixed. SBI can trade sideways between the ...

Read More  

10.50 am

₹1282 • Buy Reliance Ind if stock rallies above ₹1,295 levels

 

 

S1

 

S2

 

R1

 

R2

 

COMMENT

1265125012951310

 

Fresh long positions are recommended with a tight stop-loss if the stock of RIL rallies above ₹1,295 levels

 

With ₹6.23-lakh cr revenue, Reliance Ind emerges top firm on all counts

Topples IOC to become the biggest Indian company

Read More

Broker's call: Reliance Industries (Neutral)

Motilal OswalReliance Industries (Neutral)CMP: ₹1,373.8Target: ₹1,457Reliance Industries’s stock price has almost tripled over the last five years, ...

Read More  

10.45 am

Wipro to turn ex-date for share buyback

Shares of Wipro will turn ex-date for the proposed ₹10,500-crore buyback on Thursday. Wipro plans to buy back up to 32.3 crore shares, representing 5.35 per cent of its total paid-up equity capital, at ₹325 a share.

READ MORE

 

Wipro to buy digital firm ITI for $ 45 m

Wipro

 Wipro Ltd said it has signed a definitive agreement to acquire International TechneGroup Incorporated (ITI), a global digital engineering and ...

Read More

Wipro’s fourth quarter results, guidance disappoint analysts

Shares of Wipro on Thursday gained over 1 per cent despite the fourth quarter financial performance and weak guidance by the company having ...

Read More  

10.40 am

SEBI allows futures trading in commodity indices

SEBI has allowed exchanges to launch futures trading in commodity indices. The move will further facilitate mutual fund and institutional participation in commodity exchanges.

Bourses willing to start commodity indices futures trading has to submit last three years data of the index constructed along with data on monthly volatility, roll-over yield for the month and monthly return while seeking approval from SEBI, the regulator said in a statement on Tuesday.

READ MORE

 

10.35 am

Oil extends gains amid West Asia tensions, US-China trade deal hopes

Oil prices climbed on Wednesday, extending sharp gains from the previous session on rekindled hopes for a US-China trade deal and on continued tensions in the West Asia after tanker attacks there last week.

Brent crude futures were up 34 cents, or 0.6per cent, at $62.48 a barrel by 0028 GMT. They rose 2 per cent on Tuesday.

 

Oil prices fall for second day on weak economic data

US business sentiment has sagged as tensions over trade have escalated between China and the United States and on signs of softness in the labour ...

Read More

 

UAE assures India of oil, LPG supplies

The UAE has assured India of crude oil and Liquefied Petroleum Gas (LPG) supplies despite recent supply disruptions, Minister for Petroleum and ...

Read More  

 

10.30 am

₹340 • Buy SBI if stock advances above ₹345 levels

 

S1S2R1R2

 

COMMENT

334327345350

 

Consider initiating fresh long positions with a fixed stop-loss only if the stock advances above ₹345 levels

 

 

10.20 am

 

11700 • Nifty 50 Futures: Go long above 11,750 levels

 

 

S1

 

S2

 

R1

 

R2

 

COMMENT

11650116001175011800

 

The contract is range-bound. Go long with a tight stop-loss only if the contract moves above 11,750 levels

 

 

Nifty 50 June Futures (11,732): Buy in declines with a fixed stop-loss at 11,700 levels

 The Sensex and the Nifty started the session on a positive note and continued to trend up. The Asian markets are showing mixed cues; the Nikkei 225 ...

Read More  

10.20 am

NIFTY MEDIA STOCKS

 

 

10.12 am

RCom owes Rs 57,382 cr to debtors

Debt-ridden Reliance Communications (RCom) owes Rs 57,382.5 crore to debtors, including new entities, with the Interim Resolution Professional (IRP) admitting claims worth Rs 49,223.88 crore.

The company’s Chinese lenders - China Development Bank, Industrial and Commercial Bank of China and Exim Bank of China – have claimed a total of Rs ‭15,053.23 ‬crore from the company, while claims worth Rs 8,158.62 crore are “under verification”, RCom said in a regulatory filing.

 

10.10 am

Pricol up 2% on hive off plan

Auto components manufacturer Pricol stock rallied over 2 per cent to Rs 32.80 on the NSE today following a report in The HinduBusinessline that the company is hiving off its wholly-owned Spanish subsidiary Pricol Espana SL and some step-down subsidiaries.

The aim is to arrest further flow of funds into unviable markets, said the firm.

Company news: Pricol

Pricol has commenced commercial production from its new plant at Sri City, Andhra Pradesh, from Monday. The company, however, did not divulge details ...

Read More

Pricol to invest ₹225 crore in expansion, new units

Coimbatore-based auto parts maker Pricol plans to invest about ₹225 crore in new plant and machinery during this fiscal for expanding its capacity and ...

Read More

Pricol arm to lead small/mid-size travel agencies on a tech trip

Pricol Travel, through its wholly-owned subsidiary Advantage Asia Travel Partnership, is offering empowerment programmes for the holiday and ...

Read More  

10.05 am

 

VOLUME TOPPERS ON BSE

 

10 am

THE BSE METAL INDEX

 

 

9.55 am

PSU oil marketing companies shares drop

 

Hindustan Petroleum Corporation (down 0.90%), Bharat Petroleum Corporation (up 0.40%) and Indian Oil Corporation (up 0.60%) declined today on stronger crude oil prices.

Higher crude oil prices could increase under-recoveries of public sector oil marketing companies on domestic sale of LPG and kerosene at controlled prices.

Oil prices climbed on Wednesday, extending sharp gains from the previous session on rekindled hopes for a US-China trade deal and on continued tensions in the West Asia after tanker attacks there last week.

Brent crude futures were up 34 cents, or 0.6per cent, at $62.48 a barrel by 0028 GMT. They rose 2 per cent on Tuesday.

IOC, HPCL to contest over Rs 4,000 cr tax demand on sale of ethanol blended petrol

India is over 83 per cent dependent on imports to meet its oil needs

Read More

Broker's call: HPCL (Add)

Centrum BrokingHPCL (Add)CMP: ₹285.1Target: ₹335HPCL reported a strong 77/70 per cent y-o-y growth in EBITDA/PAT for the quarter to ₹5,170/2,970 ...

Read More

HPCL Q4 net profit jumps 70%

Hindustan Petroleum Corp Ltd  (HPCL) on Monday  reported a ₹2,970-crore net profit for the fourth quarter of FY19 as inventory gains and rupee ...

Read More

BPCL to invest ₹6,877 crore to revamp Mumbai refinery complex

Bharat Petroleum Corporation Ltd (BPCL) plans to invest ₹6,877 crore to modernise its Mumbai refinery complex by replacing the old Catalytic Cracking ...

Read More

BPCL’s Q4 profit rises 16% to ₹3,125 crore

State-run oil refiner Bharat Petroleum Corporation Ltd (BPCL) on Monday posted a net profit of ₹3,124.9 crore for the fourth quarter of FY19, 16.2 per ...

Read More  

9.45 am

BSE Metal index strengthens by 3%

 

The S&P BSE Metal index is up 1.95% to quote at 10884.07. The index is up 0.45 % over last one month.

Among the other constituents of the index, Tata Steel Ltd increased 3.65%, Jindal Steel & Power Ltd added 4.50%, SAIL was up 3.50% and NMDC rose 3% today

 

Weekly Trading Guide

SBI (₹343.8)SBI was stuck in a narrow range between ₹339 and ₹349 last week. The near-term outlook is mixed. SBI can trade sideways between the ...

Read More  

JSW Steel: It’s a steal

Ability to meet demand, cost-control measures and stable financials work in favour of the company

Read More  

Steel companies urge govt to auction iron ore mining leases expiring in March

Govt could lose Rs 79,500 cr if lease on 53 mt capacity is not auctioned, they caution

Read More  

9.35 am

Opening Bell

Domestic equity benchmark BSE Sensex the NSE Nifty made large gains in the opening session on Wednesday as investors dared to hope the Federal Reserve would follow the lead of the European Central Bank and open the door to future rate cuts at its policy meeting later in the day.

After rebounding over 130 points in the opening session, the 30-share index extended its upward move and was being quoted at 39,403.19, up 356.85 points from yesterday's closing level of 39,046.34.

Similarly, the broader NSE Nifty was being quoted up by 108.55 points, or 0.93%, at 11,800.05.

Asian share markets jumped on Wednesday as investors hoped that the Federal Reserve would follow the lead of the European Central Bank and pursue rate cuts at its policy meeting.

Wall Street surged on Tuesday and the S&P 500 approached a record high after Washington rekindled trade talks with Beijing, boosting sentiment along with growing investor confidence that the Fed will cut interest rates this year. US President Donald Trump said he would meet with Chinese President Xi Jinping at the G20 summit later this month, and said talks between the two countries would restart after a recent lull.

Sensex stocks

 

9.20 am

 

 

9.15 am

HDFC AMC’s move to acquire Essel bonds weighs on the stock

In a bid to offer respite to FMP (fixed maturity plan) investors left in a lurch owing to the schemes’ exposure to the Essel Group (grappling with debt woes), HDFC AMC decided to offer liquidity by taking on the NCDs issued by Essel Group on its own books. The liquidity arrangement may involve an outlay not exceeding ₹500 crore, according to the exchange filing by the company.

This could imply two things for HDFC AMC: If the Essel Group manages to pay back its dues on the NCDs, then the impact on the AMC will be minimal (depending on the price at which it acquires these bonds).

READ MORE

 

HDFC AMC’s 4th quarter net profit up 60% on lower expenses

Board declares final dividend of ₹12/share

Read More

 

HDFC AMC to pay ₹12 interim

HDFC Asset Management Company has declared an interim dividend of ₹12 a share for the financial year ending March 2019.The dividend pay out was ...

Read More  

9.10 am

Sensex stocks

 

9 am

Day Trading Guide for June 19, 2019

Given below are supports and resistances for Nifty 50 futures and seven key stocks that can help in your intra-day trading:

 

₹2416 • HDFC Bank

 

 

S1

 

S2

 

R1

 

R2

 

COMMENT

2404239024302445Fresh long positions are recommended with a stiff stop-loss only if the stock moves beyond ₹2,430 levels

 

₹750 • Infosys

 

 

S1

 

S2

 

R1

 

R2

 

COMMENT

742735758765Make use of intra-day declines to buy the stock while maintaining a fixed stop-loss at ₹742 levels

 

READ MORE

 

 

9 am

Today's Pick: Dabur India (₹387.8): Sell

Investors with a short-term perspective can consider selling the stock of Dabur India at current levels. Since encountering a key resistance at ₹460 in early February, the stock has been in a medium-term downtrend. While trending down, the stock had breached a key support at around ₹420 and continued to trend downwards.

READ MORE

 

8.55 am

Wall St nears record as mood on trade again turns optimistic

Wall Street surged on Tuesday and the S&P 500 approached a record high after Washington rekindled trade talks with Beijing, boosting sentiment along with growing investor confidence that the Fed will cut interest rates this year

READ MORE

File Photo   -  Reuters

 

8.50 am

Asian shares jump on Federal rate cut, trade war hope

Asian share markets jumped on Wednesday as investors dared to hope the Federal Reserve would follow the lead of the European Central Bank and open the door to future rate cuts at its policy meeting later in the day.

Japan's Nikkei rose 1.5 per cent and South Korea 1.1 per cent. E-Mini futures for the S&P 500 were a fraction firmer after a upbeat Wall Street session.

READ MORE

 

Published on June 19, 2019

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