MARKET: Sensex slips 422 pts amid a sell-off in RIL; Nifty ends at 11,203

All that happened in the markets today

8:52 AM

BROKERAGE VIEW :: Citi on UltraTech Cement

Maintains 'Buy', Revised target price: Rs 5,000 from Rs 4,500

>> Producers are expected to focus on profit and margin

>> Stock is among top picks in the sector

>> Tweak EBITDA estimates slightly but continue to value at 13x EV/EBITDA

8:49 AM

BROKERAGE VIEW :: CLSA on UltraTech Cement

Upgrades to 'Buy', Revised target price: Rs 5,000 from Rs 4,160

>> Q1 results ticked all boxed with high profitability and low debt

>> Deleveraging, cost control and sustained volume growth key positives

>> See co's risk-reward as the most attractive in the sector

>> Raise FY21-23 EBITDA target by 10-13%

8:45 AM

Hold Nifty longs with 11,050 stop-loss: Vinay Rajani of HDFC Securities

Nifty broke out from its 5-day consolidation range of 11,050-11,240 on Tuesday and closed at the highest point of the current upswing. Nifty is in continuation of an uptrend and longs should be held with the stoploss of 11,056. Resistances are seen at 11,350 and 11,500. READ MORE

8:43 AM

Weekly stock picks by Religare Broking: Buy Godrej Consumer, Hero MotoCorp

Buy Godrej Consumer Products Limited

 

Last Close: Rs 677.45

 

After an up move from 600 to 720 levels, GODREJCP has been trading with a corrective bias for the last three weeks. It has tested the support zone around 660 of late and indications are now in the favor of a rebound. Traders are advised to initiate fresh longs in the given range. READ MORE

8:39 AM

Bulk deals on NSE as on Tuesday

Click here for complete list

8:38 AM

Bulk deals on BSE as on Tuesday

Click here for complete list

8:34 AM

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

8:31 AM

Rupee check

Source: Bloomberg

8:28 AM

Oil rises after surprise drop in US inventories offsets demand concerns

>> Oil prices rose on Wednesday after an industry report showed that crude inventories in the United States decreased against expectations, giving the market a boost amid record increases of coronavirus infections in the U.S. and elsewhere.

>> Brent crude was up by 24 cents, or 0.6%, at $43.46 a barrel, after dropping 0.4% on Tuesday.

 

>> US oil gained 14 cents, or 0.3%, to $41.18 a barrel, having dropped 1.4% in the previous session.

(Source: Reuters)

8:24 AM

SGX Nifty hints at green start

>> At 8:23 am, the index was at 11,317 level, up 34 points 

8:21 AM

Wall Street falls as pandemic hurts consumer confidence; stimulus plan underwhelms

Source: Reuters

8:20 AM

Asian stocks under pressure, gold rallies on US stimulus impasse

Source: Reuters

7:30 AM

Good morning!

Welcome to the Business Standard live blog.

Catch all the live market updates here.