Market Opens: Benchmark indices opened on positive note on June 11 with Nifty around 11,950 level.
The Sensex is up 139.13 points at 39923.65, while Nifty is up 30.80 points at 11953.50. About 352 shares have advanced, 274 shares declined, and 35 shares are unchanged.
DHFL, Vedanta, UltraTech Cement, Tata Steel, IndusInd Bank, ITC, TCS, Coal India are some of major gainers on the indices, while losers include Indiabulls Housing, Sun Pharma, Eveready Industries, Reliance Power, Suzlon, Reliance Power, Bharti Airtel, Yes Bank and Britannia Industries.
On the sectoral front, buying seen in the bank, energy, metal, IT and FMCG, while selling seen in the infra and pharma stocks.
Rupee Opens: The Indian rupee gained in the early trade on Tuesday. It has opened higher by 20 paise at 69.45 per dollar versus previous close 69.65.
Market at pre-open: Indian indices are trading higher in the pre-opening session with Nifty around 12,000 level.
At 09:01 hrs IST, the Sensex is up 70.66 points or 0.18% at 39855.18, and the Nifty up 62.70 points or 0.53% at 11985.40.
Brokerages View: Source: CNBC-TV18:
HSBC on Non-Ferrous
Commodity & metal stocks severely hurt by ongoing trade tensions
Further escalation likely to aggravate the situation
Hindalco top pick; resolution of tensions key catalyst for realisation of upside
Base metals stocks better proxy for recovery in commodity Prices
More positive on aluminium compared to zinc
Forecast a recovery in the aluminium price to $2,037/t In FY21
Buy rating on Hindalco, target cut to Rs 270 from Rs 300 per share
Hold rating on Hind Zinc, target cut to Rs 240 from Rs 250 per share
Hold rating on Vedanta, target cut to Rs 190 from Rs 205 per share
Buy rating on Nalco, target unchanged At Rs 65 per share
Morgan Stanley on NBFCs
System liquidity is improving
Cos with strong parentage/vintage will be key beneficiaries
Valuations look attractive at HDFC, M&M Financial & Shriram Transport
Nomura on MF Data
MF flows remain weak with pure equity flows at Rs 4,000 crore
Debt flows have turned negative after some inflows seen in April
Inflows in credit funds have been weak for 18 months
SBI MF & HDFC MF have gained market share across all segments
Reliance MF lost meaningful market share in debt, while equity segment has held up
Jefferies on Voltas
Buy rating, target at Rs 700 per share
As per reports, Apr-May ACs growth is at 20% YoY
CLSA on J&K Bank
Buy call on the stock with target at Rs 68 per share
Change of CMD raises risk of uncertainty
CLSA on TCS
Buy call on the stock with target at Rs 2,460 per share
Several successes in all-round execution keep raising the bar
CLSA on Zee Entertainment
Retain buy call with target at Rs 535 per share
Viewership share for network under new TRAI regime up 140 bps YoY
SGX Nifty: Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 23 points or 0.19 percent. Nifty futures were trading around 11,966-level on the Singaporean Exchange.
Asian markets trade higher: Asian stocks made modest gains on Tuesday after the Trump administration shelved plans for tariffs against Mexico, lifting Wall Street, however, fresh US trade threats against China are expected to limit any major investor sentiment boost.
US markets end higher: US stocks extended their recent climb on Monday, with the Dow reaching its longest daily winning streak in 13 months after the United States dropped plans to impose tariffs on Mexican goods and a couple of multibillion-dollar deals boosted the market.
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