Sharekhan on El Nino:
Officials in the India Meteorological Department indicated that EL Nino conditions have weakened considerably and the assessment is that this unlikely to post any threat to the Southwest monsoon this year - sentimentally positive for the consumer goods (HUL, Dabur India and Britannia Industries), auto companies (M&M, Escorts and Hero Motocorp) and agri commodity (Insecticides India, PI Industries and UPL)
Market Opens: It is a flat start for the Indian indices on Thursday.
At 09:17 hrs IST, the Sensex is down 8.36 points or 0.02% at 38576.99, and the Nifty down 1.40 points or 0.01% at 11582.90. About 419 shares have advanced, 296 shares declined, and 42 shares are unchanged.
IOC, Wipro, BPCL, HPCL, Tata Motors, HUL, Indiabulls Housing, Asian Paints, Yes Bank, Hero Motocorp are among major gainers on the indices, while losers are Sun Pharma, Vedanta, Zee Ent, Infosys, Adani Ports, Cipla, Hindalco and Axis Bank.
Among the sectors, bank, IT, metal and pharma are trading lower, while some buying seen in the energy, infra and FMCG sectors.
Rupee Opens: The Indian rupee opened lower by paise at 69. 21 per dollar on Thursday against Wednesday's close 69.11.
Market at pre-open: Benchmark indices are trading higher in the pre-opening with Nifty around 11,600 level.
At 09:04 hrs IST, the Sensex is up 89.11 points or 0.23% at 38674.46, and the Nifty up 25.60 points or 0.22% at 11609.90.
Sun Pharma, Zee entertainment, Vedanta, Tata Steel, Hindalco, Maruti Suzuki are trading lower, while Indiabulls Real Estate, Bajaj Finance, HDFC Bank, Dish TV are trading higher.
Crude Update: Oil prices fell on Thursday after US crude stockpiles surged to their highest levels in almost 17 months amid record production.
Brokerages View: Source: CNBC-TV18
Nomura on Wipro
Maintain neutral call, target at Rs 270 per share
Company may announce a buyback of USD 1.7 billion, equivalent to 22 percent of its net worth
Morgan Stanley on Wipro
Maintain underweight call, target at Rs 225 per share
Buyback Will be at best neutral to FY20e EPS
Stock is trading at 16x FY21e EPS
Citi on media companies
Maintain buy call on Sun TV and DB Corp
Target for Zee Enterprises raised to Rs 515 from Rs 480, Sun TV to Rs 750 from Rs 725 per share
Target for Dish TV raised to Rs 36 from Rs 33 and DB Corp target raised to Rs 235 from Rs 210 per share
Citi on L&T Fin Holdings
Valuations attractive at 2.1x Mar-20 adjusted PB
Reiterate buy call, target at Rs 170 per share
Wall Street ends with marginal gains: Technology stocks led Wall Street slightly higher on Wednesday, as US inflation data proved to be benign and the minutes from the Federal Reserve's March meeting were unsurprising.
Asian market trade mixed: Asian stocks held near eight-month highs on Thursday and the dollar slipped again on expectations global interest rates will stay lower for longer after a dovish turn by the European Central Bank and milder than expected US inflation.
SGX Nifty: Trends on SGX Nifty indicate a flat opening for the broader indices in India, a gain of 11 points or 0.09 percent. Nifty futures were trading around 11,662.50-level on the Singaporean Exchange.
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