Market Opens: It is a gap-down opening for the Indian indices on Monday with Nifty slipped below 11,600 level.
At 09:17 hrs IST, the Sensex is down 380.44 points or 0.98% at 38582.82, and the Nifty down 111.90 points or 0.96% at 11600.40.
HDFC Bank, SBI, Maruti Suzuki, RIL, Titan, Yes Bank, Tata Steel, Vedanta, Tata Motors, Hindalco, Infosys, Indiabulls Housing, HUL are among major losers on the indices, on the other hand gainers are BPCL, Power Grid, Asian Paints and Eicher Motors.
All the sectoral indices are trading red led by metal, IT, infra, bank, auto, pharma and FMCG.
Rupee Opens: The Indian rupee opened lower by 7 paise at 69.29 per dollar on Monday versus Friday's close 69.22.
Market at pre-open: Sensex and Nifty are trading lower in the pre-opening session with Nifty around 11,650 level.
At 09:02 hrs IST, the Sensex is down 43.32 points or 0.11% at 38919.94, and the Nifty down 75.10 points or 0.64% at 11637.20.
Wall Street ends higher on Friday: US stocks rose in a broad-based rally on Friday as stronger-than-expected job growth in April coupled with muted wage gains left investors upbeat about the outlook for the economy and interest rates.
Brokerages View: Source: CNBC-TV18
Jefferies on Federal Bank
Buy rating, target raised to Rs 114 from Rs 104 per share
Asset quality surprises positively; margin should remain at 3.2% levels
Increase EPS estimate by 2.5-3%
Citi on Federal Bank
Neutral Call, target raised to Rs 110 from Rs 90 per share
Healthy loan growth; margin outlook stable
Jefferies on HUL
Hold Rating, target raised to Rs 1,820 from Rs 1,770 per share
Q4 results better than peers but not good enough
CLSA on HUL
Outperform rating, target cut to Rs 1,950 from Rs 2,010 per share
Volume growth of 7% looks good in the context of peer performance
Morgan Stanley on LIC Housing
Equal-weight call, target at Rs 500 per share
Valuation cheap, but growth mix & rising NPLs keep us equal-weight
Nomura on LIC Housing
Buy rating, target at Rs 500 per share
Q4 performance mixed, with strong NII performance
Jefferies on LIC Housing
Q4 PAT beat our estimates on stronger NIMs & lower provisions
Core home loan disbursal growth was strong, which is encouraging
Morgan Stanley on Indiabulls Housing
Underweight call, target at Rs 600 per share
Will be open to merge company into LVB if required
Other proposed terms w.r.t effective swap ratio etc. remain unchanged
Asian markets trade lower: Asian equities tumbled, oil prices plunged and the safe-haven yen strengthened early on Monday as trade negotiations between China and the United States deteriorated suddenly, reversing apparent progress made in recent months.
SGX Nifty: Trends on SGX Nifty indicate a negative opening for the broader indices in India, a fall of 53 points or 0.45 percent. Nifty futures were trading around 11,707.50-level on the Singaporean Exchange.
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