MARKET WRAP: Sensex settles 178 pts higher; defense stocks rally up to 12%

All that happened in the markets today

9:05 AM

Top gainers and losers on the S&P BSE Sensex at Pre-open

9:03 AM

Markets at Pre-open

9:02 AM

Markets at Pre-open

9:01 AM

BROKERAGE VIEW :: Morgan Stanley on Gas companies

Top picks: Petronet LNG, Gujarat Gas, GAIL

>> Covid-19 to accelerate India's energy transition

>> Expect 21% earnings CAGR as volume and margin expand

>> Double upgrade to Gujarat Gas to 'overweight' call 

8:56 AM

BROKERAGE VIEW :: CLSA on Axis Bank

Maintains 'Buy', Target price: Rs 580

>> Higher CET-1 threshold key motivation for capital raise

>> Capital raise of Rs 12,000 cr will add 180 bps to FY21 CET-1

>> Co needs higher capital raise than private peers

>> Retain co as one of the top picks

8:52 AM

BROKERAGE VIEW :: CLSA on Autos

Top picks: Hero MotoCorp, M&M

>> Tractor sales grew 15% YoY in June 2020, 2Ws outperform passenger and commercial vehicles

>> Estimate tractor industry growth of 15% YoY in FY21

>> FY21 forecasts imply potential upside risk for tractors

>> Prefer rural-focused and non-discretionary categories

8:45 AM

Stocks to watch: RIL, HDFC Life, Motherson Sumi, JB Chemicals, Divi's Lab

RIL: Intel to invest Rs 1,894.5 crore for 0.39 per cent stake in Reliance Industries' Jio Platforms.

 

HDFC Life, SBI Card: Vedanta will be replaced by HDFC Life Insurance Company on Nifty with effect from July 31. It will be replaced by SBI Cards in the Nifty 100 and Nifty 500 indices. READ MORE

8:41 AM

Investors should be cautious on gold after recent rally: Tradebulls Sec

Gold market continues to go from strength to strength but at around $1,800, it is facing stiff resistance. Today’s non-farm payroll data could either make gold break the $1,800 level and start fresh momentum on the upside or make the intermediate top.  READ MORE

8:39 AM

Nifty may face resistance at 10,650 level, says Nilesh Jain of Anand Rathi

SELL NIFTY | TARGET: 10,400 | STOP LOSS: 10,650

 

The NIFTY index completed its 61.8 per cent Fibonacci retracement of the entire recent fall from the top, which is coming around 10,552 levels. The index is also forming a rising wedge pattern where the upper trend line is coming around 10,650 levels which will now act as immediate resistance. Thus, the risk and reward doesn’t support the long positions and also to hedge stock-specific long position, we advise initiating short positions in Nifty index. READ MORE

8:36 AM

Bulk deals on BSE as on Thursday

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8:35 AM

Bulk deals on NSE as on Thursday

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8:33 AM

Rupee check

Source: Bloomberg

8:32 AM

Oil falls as growing coronavirus cases stoke fuel demand worries

>> Crude prices fell on Friday as the resurgence of the coronavirus globally and in the United States, the world’s largest oil consumer, dimmed the prospects of fuel demand recovery.

 

>> Brent crude futures were down 37 cents, or 0.9%, at $42.77 a barrel as of 0042 GMT, and US West Texas Intermediate (WTI) crude futures fell 34 cents, or 0.8%, to $40.31 a barrel.

(Source: Reuters)

8:27 AM

SGX Nifty update

>> At 8:26 am, the index was at 10,597 level, up 49 points or 0.48 per cent

8:25 AM

NEWS ALERT :: Intel Capital to invest Rs 1,894.50 crore in Jio Platforms

>>  Intel Capital’s investment will translate into a 0.39% equity stake in Jio Platforms on a fully diluted basis.

>> Intel Capital's invetsment is at an equity value of ₹ 4.91 lakh crore and an enterprise value of ₹ 5.16 lakh crore

>> Intel Capital joins the list of marquee firms who have recently invested in Jio Platforms, taking the total investment amount to ₹ 117,588.45 crore.

>> This is 12th investment in Jio Platforms by global invetsors in 11 weeks.

(Source: BSE filing)