Market Live: Nifty starts June series near 12k, Sensex gains 100 points; Coal India up 3%

Market Opens: It is firm start for the June series as Indian indices opened on higher note with Nifty above 12,000 level.

At 09:17 hrs IST, the Sensex is up 149.96 points or 0.38% at 39981.93, and the Nifty up 60.40 points or 0.51% at 12006.30. About 530 shares have advanced, 311 shares declined, and 46 shares are unchanged. 

Bharti Airtel, HDFC Bank, JSW Steel, Coal India, HPCL, Berger Paints, IndiGo and Tata Steel are some of the major gainers on the indices in the early trade, while losers are ONGC, HUL, Kotak Mahindra Bank and 

All the sectoral indices are trading higher led by metal, pharma, bank, IT, auto, FMCG, pharma and infra.

Rupee Opens: The Indian rupee gained in the early trade on Friday. It has opened higher by 11 paise at 69.76 per dollar versus Thursday's close 69.87.

Market at pre-open: Benchmark indices are trading higher in the pre-opening session with Nifty test 12,000 level.

At 09:01 hrs IST, the Sensex is up 128.01 points or 0.32% at 39959.98, and the Nifty up 55.70 points or 0.47% at 12001.60.

Brokerages View: Source: CNBC-TV18

Citi on Coal India

Buy rating, target raised to Rs 320 from Rs 300 per share

Valuations at 9x 1-yr forward PE discount uncertainty on volume trends

CLSA on Coal India

Maintain buy rating, target raised to Rs 290 from Rs 275 per share

Q4 EBITDA higher than estimate, led by better-than-expected realisations

CLSA on Glenmark Pharma

Q4 below estimates due to a miss on US rev & higher R&D/SG&A spends

Expect investment phase to remain high over the next two years 

CLSA on IPCA Labs

Maintain sell call, target raised to Rs 780 from Rs 730 per share

Q4 EBITDA up 50% despite modest 7% revenue growth

CLSA on ONGC

Reiterate buy call, target raised to Rs 285 from Rs 240 per share

Slew of one-offs cause a big miss in Q4

Macquarie on ONGC

Outperform call, target at Rs 210 per share

Q4 EBITDA-EPS significantly below consensus & estimates

Nomura on Alkem Labs

Upgrade to buy from neutral, target raised to Rs 2,230 from Rs 1,965 per share

Q4 below estimates; but commentary suggests improved outlook

Nomura on Ujjivan Financial

Maintain reduce call, target at Rs 315 per share

Asset quality was steady, with GNPAs of 0.92% 

Nomura on KNR Construction

Maintain buy call, target at Rs 305 per share

Results beat both on revenue & EBITDA margin

Macquarie on Jagran Prakashan

Maintain outperform, target cut to Rs 146 from Rs 150 per share

Cut FY20/FY21 EPS estimates by 16%/12

Trump plans 5% tariff on Mexican imports: President Donald Trump, struggling to stem a surge of illegal immigrants across the southern border, vowed on Thursday to impose a tariff on all goods coming from Mexico starting at 5% and ratcheting higher until the flow of border-crossers ceases.

Wall Street ends higher: US stocks showed signs of stabilizing on Thursday, but gains were kept in check by conflicting comments on trade talks from President Donald Trump and Beijing that reinforced concerns about a potentially lengthy battle harming global growth.

Asian markets trades lower: Asian shares extended a month-long slide and sovereign bonds surged on Friday after US President Donald Trump ramped up trade tensions globally by suddenly slapping tariffs on all goods from Mexico, sending the peso tumbling.

SGX Nifty: Trends on SGX Nifty indicate a positive opening for the broader indices in India, a gains of 22.50 points or 0.19 percent. Nifty futures were trading around 11,998.50-level on the Singaporean Exchange.

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