MARKET WRAP: Sensex slips 174 pts, Nifty below 11,500; IndiGo crashes 11%

Topics MARKET WRAP

Indices ended Wednesday's volatile session in the negative territory. Spooked by fresh trade war concern between India and the United States, markets remained flat with a positive bias for better part of the day. They, however, saw sharp decline during the last trading hour. 

The benchmark S&P BSE Sensex ended 174 points, or 0.45 per cent, lower at 38,557 levels with Bajaj Finance, Tata Steel and Tata Motors being the top losers. On the contarry, YES Bank, Sun Pharma and ICICI Bank were the top gainers for the day. The broader Nifty50, too, settled 57 points, or 0.49 per cent, lower at 11,498 levels. 

The Sensex dipped as much as 256 points intra-day while the Nifty50 lost up to 80 points today.

In the broader market, the S&P BSE Mid-Cap slipped 110 points, or 0.75 per cent, to close at 14,414 levels while the S&P BSE Small-Cap ended 103 points, or 0.75 per cent, lower at 13,699 levels.

Sectorally, all the indices, except Nifty Private Bank index, closed in the red. Nifty auto, metals, PSU bank and realty counters closed nearly 1.5 per cent lower each. This was followed by losses in Nifty IT and Nifty FMCG indices, which were down 0.81 per cent and 0.54 per cent respectively. 

BUZZING STOCKS

Shares of IndiGo, India’s largest airline, nosedived as much as 17.54 per cent to hit a low of Rs 1,291 apiece on the BSE in the early morning deals on Wednesday after promoters Rahul Bhatia and Rakesh Gangwal made serious allegations against each other, forcing the Securities and Exchange Board of India (Sebi) to intervene. READ MORE

Shares of Manpasand Beverages were locked in 5 per cent lower circuit at Rs 38.85 apiece on Wednesday after the company’s auditor Mehra Goel & Co. resigned owing to the ongoing Goods and Services Tax (GST) scam investigations against the company. READ MORE

Shares of Tata Consultancy Services (TCS) slipped as much as 2.9 per cent to hit a low of Rs 2,070 apiece on the BSE in intra-day deals on Wednesday, a day after the IT bellwether announced its June quarter (Q1) results of the financial year 2019-20 (FY20). READ MORE

Click here for more buzzing stocks

GLOBAL CUES

Asian shares ended mixed on Wednesday. Japan's Nikkei closed 0.15 per cent lower while South Korea's Kospi settled 0.33 per cent lower.

In the commodities market, Brent Crude Futures rose to trade at $65.36 per barrel.

(With inputs from Reuters)


3:41 PM IST

3:40 PM IST

3:36 PM IST The S&P BSE Sensex shed 174 points or 0.45 per cent to end at 38,557.04 while Nifty50 index slipped 57 points or 0.49 per cent to settle at 11,499.

3:00 PM IST COMPANY PRICE(rs) CHG(rs) CHG(%) VOLUME DISH TV 26.65 -1.30 -4.65 6270765 REL. COMM. 1.74 0.07 4.19 5440199 SPICEJET 119.95 2.70 2.30 5429431 YES BANK 92.90 1.55 1.70 4112736 RELIANCE INFRA. 46.00 -2.95 -6.03 3950141 » More on Most Active Volume

2:56 PM IST -- Total JLR sales down 9.6% at 47,060 units (YoY)   -- Europe JLR retail sales down 11.7%, China down 12.3%, overseas 18.6% Photo: Shutterstock

2:50 PM IST

2:45 PM IST Reliance Capital, which was down 6 per cent intra-day to trade at Rs 56 apiece, has slipped 13 per cent in the past four days. The dip started after rating agency CARE Ratings (CARE) reaffirmed its 'BBB' rating and revised its outlook to 'credit watch with negative implications' for the long-term debt program, market linked debentures and subordinated debt of the company. READ MORE

2:40 PM IST Gold imports, which had halted after the Budget was announced, have resumed today, with the government amending a notification to move back to the tariff value-based duty calculation method for bullion. Increase in import duty on gold and silver and removal of certain entries in previous notifications prompted customs officials and the market to assume that duty would now have to be calculated on the basis of transaction value. This created confusion and several importers put their orders on hold. READ MORE

2:39 PM IST -- Uncertainty persist due to recession concerns, Brexit, Trade-war and Tariffs

2:37 PM IST

LIVE UPDATES

Sectoral gainers and losers on the NSE


Top gainers and losers on the S&P BSE Sensex


CLOSING BELL

The S&P BSE Sensex shed 174 points or 0.45 per cent to end at 38,557.04 while Nifty50 index slipped 57 points or 0.49 per cent to settle at 11,499.

Most active stocks by volume

COMPANY PRICE(rs) CHG(rs) CHG(%) VOLUME
DISH TV 26.65 -1.30 -4.65 6270765
REL. COMM. 1.74 0.07 4.19 5440199
SPICEJET 119.95 2.70 2.30 5429431
YES BANK 92.90 1.55 1.70 4112736
RELIANCE INFRA. 46.00 -2.95 -6.03 3950141
» More on Most Active Volume

Tata Motors June Auto sales

-- Total JLR sales down 9.6% at 47,060 units (YoY)
 
-- Europe JLR retail sales down 11.7%, China down 12.3%, overseas 18.6%
Photo: Shutterstock

Minda Industries climbs over 9%


Reliance Capital, Reliance Infra dip for sixth straight day, fall up to 7%

Reliance Capital, which was down 6 per cent intra-day to trade at Rs 56 apiece, has slipped 13 per cent in the past four days. The dip started after rating agency CARE Ratings (CARE) reaffirmed its 'BBB' rating and revised its outlook to 'credit watch with negative implications' for the long-term debt program, market linked debentures and subordinated debt of the company. READ MORE

Gold imports resume after 4 days as govt reverts to tariff value-based duty

Gold imports, which had halted after the Budget was announced, have resumed today, with the government amending a notification to move back to the tariff value-based duty calculation method for bullion. Increase in import duty on gold and silver and removal of certain entries in previous notifications prompted customs officials and the market to assume that duty would now have to be calculated on the basis of transaction value. This created confusion and several importers put their orders on hold. READ MORE

NEWS ALERT | Gartner cuts 2019 IT spending to 0.6% from 1.1%: CNBC TV18

-- Uncertainty persist due to recession concerns, Brexit, Trade-war and Tariffs

L&T dips over 2%


Oil gains after US stockpiles drop, rigs evacuated

Oil prices rose on Wednesday after industry data showed US stockpiles fell far more than expected, alleviating concerns about oversupply, while major U.S. producers evacuated rigs in the Gulf of Mexico ahead of a brewing storm.

West Texas Intermediate (WTI) crude had climbed 93 cents, or 1.6 per cent, to $58.76, having earlier risen to $58.84. Brent was up 70 cents, or 1.1 per cent, at $64.86, after earlier touching $64.95.

Bajaj Finance trading near day's low


OMCs under pressure


PSBs losing lead bank relationships to private counterparts, says study

“As of 2016, 20 per cent of large Indian corporates participating in the Greenwich Associates annual Corporate Banking Study said they used at least one public sector bank as a lead corporate bank. By 2018, that share had fallen to just 15 per cent. The bulk of those relationships went to private sector banks”, the study pointed out. READ MORE

Prabhudas Lilladher on Axis Bank

Tata Global Beverages tumbles over 2%


DLF skids over 3%


Axis Bank slips 2%


Stocks that hit 52-week low on BSE500

COMPANY PRICE(rs) 52 WK LOW CHG(rs) CHG(%)
ASAHI INDIA GLAS 207.10 205.35 -2.90 -1.38
BLUE DART EXP. 2607.00 2600.00 -2.00 -0.08
BOSCH 15857.10 15807.60 -118.55 -0.74
C P C L 184.50 183.30 -4.80 -2.54
CARE RATINGS 882.50 880.00 -9.90 -1.11
» More on 52 Week Low

NEWS ALERT | US, Chinese negotiators hold 'constructive' phone talks on trade: US Official, reports Reuters

-- White House economic adviser Larry Kudlow said the talks “went well” and were constructive.

-- He said the two sides were talking about a face-to-face meeting, but warned that there was not a magic way to reach what has so far been an elusive deal.

-- US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin spoke with Chinese Vice Premier Liu He and Commerce Minister Zhong Shan

NEWS ALERT | CBI recovers cash of Rs 57 lakh during searches in two separate cases related to alleged illegal Mining: CNBC TV18

-- Searches at 12 locations including Bulandshahar, Lucknow, Fatehpur, Azamgarh, Allahabad, Noida, Gorakhpur, Deoria

Little headway on EV rollout deadline as govt, auto makers stick to guns

Late last month, a meeting between established auto makers and newer players in the electric vehicle segment continued well past the fixed time.
 
Participants said that the closed-door meeting, called to find a way out to meet the 2022 deadline for conversion of three-wheelers into electric vehicles and the 2025 deadline for two-wheelers was stormy, to put it mildly. READ MORE

Budget impact: Companies bat for Customs duty rollback on ACs, TVs

The government might roll back the hike in Customs duty on ACs and TVs as pressure from companies grows. Finance Minister Nirmala Sitharaman, in the Budget presented last Friday, had hiked the Customs duty on indoor units and outdoor units of ACs by 10 per cent, taking the total to 20 per cent each. READ MORE

Market check


Market check | Sensex sees sudden fall


NEWS ALERT | Will launch 2&3-wheeler EVs just before April 2020: Rajiv Bajaj, MD, Bajaj Auto to CNBC TV18

-- Says, not in favour of any incentive given to EVs; products should be sustainable 

-- Against any blanket ban on 2/3 wheelers IC engines 

-- Transition to EVs must be in phases and not via ban on IC engines

Metal shares under pressure; JSW Steel, Hindustan Zinc hit 52-week lows

Shares of metal companies were under pressure, with most of the frontline sector companies trading lower by up to 4 per cent on the National Stock Exchange (NSE) amid subdued demand. Jindal Steel and Power (JSPL), Tata Steel, JSW Steel, Steel Authority of India (SAIL), Hindustan Zinc and Vedanta were down in the range of 3 per cent to 4 per cent on the NSE. READ MORE

Market check


NEWS ALERT | If auto sector de-growth is not addressed, it may lead to job losses: SIAM

-- Inventory at managable level for now

-- Have asked govt to provide BS-VI fuel by Feb 15, 2020

NEWS ALERT | Mission, direction & growth strategies remain unchanged: Ronojoy Dutta, IndiGo CEO to employees

-- Says, promoter issue has nothing to do with the airline's operation

Tata Steel slips over 3%


Data tariffs stabilise after 2.5 yrs, Airtel pips Jio in monthly data usage

The proportion of data subscribers to the total subscribers has increased rapidly for Bharti Airtel and Vodafone Idea with increase in broadband customers and growing data usage.
 
The data subscribers inreased from 28-33 per cent in Q1FY19 to 41-44 per cent in Q4FY19. At the same time, the share of broadband (3G+4G) increased to 31-33 per cent in Q4FY19 from 17-22 per cent in Q1FY19. READ MORE

NEWS ALERT | Promoters of Oriental Hotels create pledge on 2.55% equity on June 26


SpiceJet rallies 9% on heavy volumes as IndiGo, Jet Airways slip in trade

SpiceJet shraes rallied 9 per cent to Rs 128 on the back of heavy volumes after rival airline companies stocks -- InterGlobe Aviation, which runs IndiGo, and Jet Airways tanked by up to 18 per cent -- on the BSE on Thursday in early morning trade. At 11:42 am, SpiceJet was trading 6 per cent higher at Rs 124, as compared to a 0.22 per cent decline in the benchmark S&P BSE Sensex. READ MORE

IndiGo promoters should have managed disagreements better, say analysts

Proxy firms and legal eagles are of the view that Indigo promoters Rahul Bhatia and Rakesh Gangwal could have managed the disagreements better with the help of the board. They point out that the aviation industry, which has already seen Air India struggling and Jet Airways ending up in insolvency tribunal, could have done without this problem. READ MORE

Motilal Oswal Financial Services on Delta Corp

Recommendation: BUY

Last close: Rs 166

Target Price: Rs 304 

The stock price has corrected sharply following media reports of (a) DELTA being issued huge GST demand notice and (b) closure of Goa-based casinos. However, management clarified that it has not received any GST notice, while comments on closure of casinos have been countered and invalidated by authorities via media. Thus, we maintain our estimates of sales/PAT CAGR of 14%/19% over FY19-21. We continue valuing the stock at 30x P/E to arrive at a target price of INR304/share. Maintain Buy.

ICICI Direct on GAIL

Recommendation: HOLD

CMP: Rs 149

Target: Rs160

Target Period: 12 months

With a decline in LPG/liquid hydrocarbon prices globally, Gail’s realisations will be lower. This will have an impact on the earnings. We reduce LPG/liquid hydrocarbon business value to | 21 per share to factor in lower realisations. Also, lower-than-expected revision in HVJ pipelines by PNGRB earlier sometime back had an impact on the company’s earnings growth. On the other operational business front, stable and growing CGD businesses would serve as a support for the stock. We value the company using the SOTP methodology. We value the core business using DCF and assign a target multiple to the EBITDA of other business segments with a HOLD recommendation and a target price of Rs160.

DHFL gains over 2%


Nifty Auto index is trading 0.6 per cent lower


June Auto data | SIAM

-- Light Commercial Vehicle sales down 9.8% YoY

-- Medium & Heavy Commercial Vehicle sales down 16.4% YoY

-- Utility vehicle sales down 1% YoY

-- Passenger car sales down 24.1% YoY

-- Commercial car sales down 12.3% YoY

-- Two-wheeler sales down 11% YoY, motorcycle sales down 9.6% YoY

-- Vehicle export rises 1%

NEWS ALERT | OBC cuts lending rate by 5-10 bps across tenors: CNBC TV18


NEWS ALERT | McLeod Russel's lenders invokes pledge on 1.8% equity on June 27


Higher LTCG tax spooks start-up investors, founders, ESOP holders

Even as the government made an effort to bury the angel tax, the rise in surcharge on long term capital gains (LTCG) tax has smitten start-up investors, founders and stock options holders.
 
If they are earning Rs 2-5 crore per annum, which many of them do, the effective LTCG tax rate is 26 per cent (see table); those earning Rs 5 crore+ will have to pay 28.5 per cent LTCG. This will discourage start-up investors and dampen the spirits. READ MORE

Hindustan Copper hits 52-week low


Rupee check | Domestic currency trading near day's high

Source: Bloomberg


Should you buy TCS post its June quarter numbers? Brokerages remain mixed

Shares of Tata Consultancy Services (TCS) slipped as much as 2.9 per cent to hit a low of Rs 2,070 apiece on the BSE in intra-day deals on Wednesday, a day after the IT bellwether announced its June quarter (Q1) results of the financial year 2019-20 (FY20). At 10:15 am, the stock was trading nearly 2 per cent lower at Rs 2,093.45 apiece on the BSE. In comparison, the benchmark S&P BSE Sensex was trading flat at 38,745 level, up just 13 points or 0.04 per cent. READ MORE
TCS | Photo: Shutterstock

NMDC rises over 5%


NEWS ALERT | NCLAT disallows HDFC plea seeking to initiate IBC proceedings vs RHC holdings

-- NCLAT says, cannot permit IBC proceedings against a provider of financial services, NBFC. Any claims of illegal receipt of deposits by RHC Holdings should be placed before RBI.

-- Alert: HDFC had sought IBC proceedings against RHC Holdings for unpaid dues of 41 cr

Manpasand Beverages hits 5% lower circuit as auditor Mehra Goel & Co quits

Shares of Manpasand Beverages were locked in 5 per cent lower circuit at Rs 38.85 apiece on Wednesday after the company’s auditor Mehra Goel & Co. resigned owing to the ongoing Goods and Services Tax (GST) scam investigations against the company. In a letter addressed to the company, the auditors said they had “re-evaluated the firm and had considered recent developments, including actions and investigations initiated by the GST authorities”. READ MORE

Market check


Adani Power slips over 4%


NEWS ALERT | Bank of India cuts lending rate by 5 bps effective today: CNBC TV18


Tata Motors down over 3%


MARKET CHECK


Nifty Bank index trades higher


Most active stocks by volume

COMPANY PRICE(rs) CHG(rs) CHG(%) VOLUME
SPICEJET 126.00 8.75 7.46 1746319
REL. COMM. 1.71 0.04 2.40 1229364
YES BANK 92.75 1.40 1.53 870673
FUTURE RETAIL 481.40 4.60 0.96 863339
GODREJ INDS. 485.70 1.75 0.36 668925
» More on Most Active Volume

Top stock picks by Motilal Oswal Finanicial Services

Large-Caps: ICICI Bank, SBI, HDFC, Bharti Airtel, L&T, Infosys, Maruti, NTPC, Coal India, Titan.
 
Mid-Caps: Federal Bank, DCB, MMFS, Indian Hotels, NMDC, ABFRL, Zensar, Godrej Agrovet, Crompton Consumer.

Himachal Futuristic Communications trades higher ahead of Q1 results today


STOCK ALERT :: SpiceJet records biggest one-day gain in two months; stock gains up to 9%

IndiGo nosedives 18% on promoters' feud over corporate governance issues

Shares of IndiGo, India’s largest airline, nosedived as much as 17.54 per cent to hit a low of Rs 1,291 apiece on the BSE in the early morning deals on Wednesday after promoters Rahul Bhatia and Rakesh Gangwal made serious allegations against each other, forcing the Securities and Exchange Board of India (Sebi) to intervene. READ MORE
Indigo promoters Rahul Bhatia (left) and Rakesh Gangwal

Eros Media dips 4%


Zee Entertainment Enterprises up over 2%


GTPL Hathway soars over 9% ahead of Q1 numbers


Reliance Infra tanks over 4%


IGL gains 2%


Dr Reddy Labs trades 0.7% lower


Garware Synthetics gains 4% despite resignation by Co director

-- Ramesh Chandorkar resigned as director of the company.


Anik Industry trades flat

-- CARE revised rating on company's long term bank facilities to C (issuer not cooperating) from B+/Stable (issuer not cooperating), on account of deterioration in its liquidity due to cash loss reported in FY19 and almost full utilisation of working capital limits.

Syndicate Bank rises over 2%


Nifty Auto index trades flat


√ćndusInd Bank gains in early trade


Market check | Buying on dips; Sensex turns green


Broader market check


KRBL slips over 1%

-- Icra has revised long-term rating bank facilities to [ICRA]AA- from [ICRA]AA

Manpasand Beverages dips 5% after auditors resign


SpiceJet soars over 8%


Religare Enterprises gains over 7% in early trade


TCS slips 2% after Q1 results


IndiGo's board room trouble cracks stock 10%


Sectoral trends on NSE at this hour


Top gainers and losers on S&P BSE Sensex


Market at open


Market at open


NEWS ALERT | US FDA issues 4 observations to Indoco's Goa unit

-- Determination of conformance to apt written specifications for acceptance are deficient

-- Investigations of a failure of a batch or any components didn't extend to other batches

-- No written testing programme designed to assess stability of characteristics of drug products

-- Written procedures not established that describe the examinations to be conducted 

(As reported by CNBC TV18)

NEWS ALERT | Fin Min to shortly seek cabinet nod for lowering stake in CPSEs below 51%: CNBC TV18

-- Govt open to aligning stake in CPSEs (central public sector enterprises) like other promoters in the market

-- Govt to retain management control while paring stake below 51%
 

Top gainers and losers on S&P BSE Sensex


Market at pre-open


Market at pre-open


Rupee opening

Rupee opens lower at 68.62/$ vs Tuesday's close of 68.54 against the US dollar

Here's why Nomura raised its Nifty target for March 2020 to 12,900

Nomura has raised its Nifty target for March 2020 to 12,900, implying an upside of nearly 12 per cent from its current levels. The brokerage has re-rated the Indian market, saying the softening of bond yields and steps taken to tackle the crisis at non-banking financial companies (NBFCs) will help valuations. “We expect the market to get valuation support from lower bond yields. READ MORE

Stocks to watch

TCS: TCS on Tuesday announced it posted a net profit of Rs 8,131 crore, a 10.8 per cent rise over the corresponding period of the previous financial year. However, the company’s revenue in dollar terms missed the street estimates while a stronger rupee ate into its operating margins.
 
IndiGo: The airline is facing its worst crisis as promoters Rahul Bhatia and Rakesh Gangwal have made serious allegations against each other on corporate governance, forcing the Securities and Exchange Board of India (Sebi) to intervene. READ MORE

Budget impact: Govt may use MF route to meet disinvestment target

The proposals in the Union Budget hint that the government will use the mutual fund (MF) route more aggressively to meet this year’s Rs 1-trillion-plus disinvestment target. It has proposed tax exemptions to exchange traded funds (ETFs) that have central public sector enterprises (CPSEs) as the underlying. READ MORE
Illustration: Ajay Mohanty

Mid- and small-cap stock indices not yet out of the woods, say analysts

The proposal to increase public float and hike income tax surcharge, which will not just be applicable to high net worth individuals (HNIs) but also to foreign portfolio investments (FPIs), has hurt investor sentiment. Besides, the move to tax share buybacks and lack of stimulus to shore up economic growth had added to investor woes. READ MORE

Q1 earnings preview: Combined net profit of Nifty50 firms may decline 2.5%

The financial year 2019-20 (FY20) is likely to start on poor note for Corporate India, with brokerages expecting a contraction in earnings and stagnation in revenue for India’s top listed companies. The combined net profit of Nifty50 companies (excluding oil and financials) is likely to decline by 2.5 per cent year-on-year (YoY) during the April-June 2019 (first quarter, or Q1) quarter — their worst showing in the last nine quarters. READ MORE

IndiGo promoters' war reaches Sebi: Rakesh Gangwal raises governance issues

IndiGo, India’s largest airline, is facing its worst crisis as promoters Rahul Bhatia and Rakesh Gangwal have made serious allegations against each other, forcing the Securities and Exchange Board of India (Sebi) to intervene.
 
Bhatia and Gangwal, who has brought charges of lapses in corporate governance, together hold more than 70 per cent in the company and IndiGo’s success has often been credited to their synergy. READ MORE

Investors should beware of high volatility in long-duration funds

Long-duration funds are showing a category average return of 16.75 per cent over the past year, according to fund tracker Value Research. However, experts say that with bulk of the rally now behind, investors should be cautious on this category.
 
Long-duration funds, according to the Securities and Exchange Board of India’s (Sebi’s) definition, have an average duration of more than seven years. They tend to be highly sensitive to interest-rate changes. READ MORE

$30 billion wiped off stock in 3 sessions as doubts on higher tax lingers

A higher surcharge on wealthy Indians in the budget has spooked non-resident and overseas funds enough to erase Rs 2.3 trillion ($30 billion) in market value from companies in the S&P BSE Sensex over the past three sessions.
 
The reason: the realisation that the new tax rate applies not just to the super rich but also to trusts -- a structure of choice for a large number of foreign funds that invest in the nation. READ MORE

Sebi likely to examine surcharge impact on foreign portfolio investors

The Securities and Exchange Board of India (Sebi) may examine the overall impact of the increase in surcharge on foreign portfolio investors (FPIs). The market regulator may do an analysis to find out the number of non-corporate FPIs, the quantum of investments by such investors, and the possible adverse impact on the markets if such investors offload shares on a sustained basis, said sources in the know. READ MORE

Technical calls from HDFC Securities: Buy Biocon, CESC

BUY BIOCON
 
CMP: Rs 245
 
Target: Rs 260
 
Stop-loss: Rs 235
 
The stock has partially filled the gap which was formed in the range of 225-241 registered in Dec 2017. This gap could act as a bullish reversal point. Oscillators have been forming positive divergence on the daily charts, indicating stock is getting accumulated on the dips.
 
Considering the technical evidences discussed above, we recommend buying the stock at CMP (current market price), for the target of Rs 260, keeping a stop loss at Rs 235 on closing basis. READ MORE

Top stock calls by Religare Broking: Sell July Futures of Tata Chem, BHEL

Colgate Palmolive (India)
 
Recommendation: Buy 
 
Last Close: Rs 1,164.45
 
Initiation range: Rs 1,155 - 1,165
 
Target: Rs 1,240
 
Stop loss: Rs 1,120
 
COLPAL looks all set for a rebound and resume its uptrend. It has been consolidating around the support zone of 100 EMA for the last two months and is trading on the verge of a breakout from the same. We advise initiating fresh longs as per the given levels. READ MORE

Today's picks: From Gail to L&T, hot stocks to watch on Wednesday

Nifty 
 
Current: 11,555 (fut: 11,550),
 
Target: NA
 
Stop-long positions at 11,470. Stop-short positions at 11,625. Big moves could go till 11,700, 11,400. A long July 18, 11500p (65), short 11400p (39) could gain 10-15 if the index tests 11500
 
Nifty Bank 
 
Current: 30,570 (fut: 30,645),
 
Target: NA
 
Stop-long at 30,500. Stop-short at 30,800. Big moves could go till 30,300, 31,000. Trend may stay negative despite likely short-covering. READ MORE

Bulk deal on NSE as on Tuesday

FII/FPI & DII trading activity on NSE, BSE and MSEI


Rupee check

Source: Bloomberg


Oil check

At 8:03 am, Brent Crude Futures were at $64.72 per barrel

SGX Nifty

At 8:00 am, SGX Nifty was trading 5 points lower at 11,556.5 levels indicating a flat start for the Indian markets

Asian Markets check

Source: Reuters


US Market check

Source: Reuters


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