Market Live: Nifty opens above 11,700, Sensex up 100 points; Mcleod Russel falls 4%

Market Opens: It is a firm opening for the benchmark indices on June 18 with Nifty around 11,700.

At 09:17 hrs IST, the Sensex is up 114.52 points at 39,075.31, while Nifty is up 33.80 points at 11706. About 403 shares have advanced, 226 shares declined, and 25 shares are unchanged. 

IndusInd Bank, Axis Bank, ITC, Maruti Suzuki, Tata Motors, Tata  Steel, Zee Entertainment are some of the major gainers on the indices, while losers are SBI, Yes Bank, Indiabulls Housing, HUL and ONGC. 

Among the sectors, except FMCG all other indices are trading in the green led by metal, pharma, infra, auto and bank.

Rupee Opens: The Indian rupee opened higher at 69.83 per dollar on Tuesday versus previous close 69.90.

Market at pre-open: Indian indices are trading firm in the pre-opening session on June 18.

At 09:02 hrs IST, the Sensex is up 180.85 points or 0.46% at 39141.64, and the Nifty up 29.10 points or 0.25% at 11701.30.

Brokerages View: Source: CNBC-TV18:

Citi on Bharti Airtel

Buy rating, target raised to Rs 405 from Rs 370 per share

Increase FY20-22 EBITDA estimate by 3-4%

Buy rating is based on its relatively healthier B/S than Vodafone Idea

Citi on Piramal Enterprises

Neutral call, target at Rs 2,640 per share

Proceeds from Shriram stake sale could be used to capitalise lending business 

Proceeds from Shriram stake sale may be used to support organic growth

Transaction does not remove possibility of merger of Shriram companies

Credit Suisse on IndiGo

Maintain outperform, target raised to Rs 1,900 from Rs 1,800 per share

Yield spike almost gone; positive on companies positioning, sector & modest competition

Citi on Realty Companies

Residential demand continues to see gradual recovery

New launches seems to bottom out

Prices remains steady in residential space

Commercial demand showing some weakness

Phoenix Mills & Oberoi Realty are our top picks given healthy balance sheet

Maintain sell on DLF given its expensive valuations

Morgan Stanley on HDFC AMC

Overweight call, target at Rs 2,000 per share

Co to provide liquidity arrangement to FMPs impacted by Essel exposure

CLSA on Coal India

Maintain buy rating, target at Rs 290 per share

Optimistic on volume growth and costs, yet no visibility on price hikes

CLSA on Oil & Gas

Unlike 2014, this crude correction may be a warning sign for refiner

Current crude correction similar to those seen in 1997, 2001 and 2008

OMC upmoves may soon be met with a wall of refining worry 

Have sell call on IOC, BPCL & HPCL; Buy on ONGC & Oil India

ONGC & Oil India offer much better risk-rewar

Wall Street ends higher: On Monday, the Dow Jones Industrial Average rose 22.92 points, or 0.09%, to 26,112.53, the S&P 500 gained 2.69 points, or 0.09%, to 2,889.67 and the Nasdaq Composite added 48.37 points, or 0.62%, to 7,845.02.

Asian markets trade mixed: Investor caution ahead of the Federal Reserve's interest rate meeting capped Asian stocks on Tuesday, while crude oil prices retreated as global growth worries overshadowed supply concerns stemming from recent Middle East tensions.

SGX Nifty: Trends on SGX Nifty indicate a flat opening for the broader indices in India, a gains of 13.50 points or 0.12 percent. Nifty futures were trading around 11,711.50-level on the Singaporean Exchange.

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