MARKET WRAP: Sensex slips 143 pts amid weak global cues; financials decline

All that happened in the markets today

9:02 AM

BROKERAGE VIEW ::CLSA on TCS

Maintains 'Outperform', Target price: Rs 2,260

>> Q1 margin missed estimate but outlook and cash flow is stable

>> Co exuded confidence of recovery in H2FY21

>> BFSI demand showed better reselience with healthy deal pipeline

>> Change FY21/22 EPS estimate by -3%/0%

8:58 AM

BROKERAGE VIEW :: Jefferies on Midcaps

Top picks: Supreme Industries, Voltas, Kei Industries, Kajaria, V-Guard, ACC, Gujarat Gas, MGL, Bharat Forge, Godrej Prop

>> These are key industry players with dominant market share

>> These stocks have good balance sheets and RoE

>> Average RoE for them is 18.6% between FY2016-20, +100 bps over FY11-15 average

8:55 AM

Stocks to watch: TCS, Tata Power, Adani Power, Tata Motors, PNB, Voda Idea

TCS: TCS reported profit before tax (PBT) of Rs 9,504 crore, which was 9.6 per cent lower than in the previous quarter and 10.65 per cent lower than the same period of the previous financial year. Net profit declined 13.81 per cent year-on-year (YoY) to Rs 7,008 crore for this period while sequentially it went down by 12.9 per cent. 
 

Tata Power, Adani Power: In a setback to Tata Power Mundra, Adani Power and Essar Power, the Gujarat government has gone back on its earlier decision to revise power purchase agreements (PPA), totalling 7,180 megawatt (Mw).

 

Tata Motors: As per news reports, the company's luxury car subsidiary Jaguar Land Rover (JLR) reported a decline of 42 per cent YoY in its retail sales at 74,067 units for the June quarter. READ MORE   

8:51 AM

Derivatives strategy for State Bank of India by HDFC Securities

BUY SBI JULY FUT @ Rs 200.7

 

Stop loss of Rs 195

 

Target Rs 210

 

Rationale:

 

Symmetrical Triangle Breakout with the higher volumes on the daily chart

Higher tops and higher bottoms on hourly and daily chart READ MORE

8:49 AM

Gold in overbought zone, wait for correction before buying: Bhavik Patel

Gold has given a return of 25.7 percent so far this year. It is trading at all-time-high as investors are lapping up to hedge their exposure from risky assets. Renewed cases of Covid-19 is keeping bulls in the hunt. Above $1820, we can see prices till $1850-$1870 in a short period.  READ MORE

8:47 AM

Overall fall in volatility giving comfort to the bulls: Nilesh Jain

The Nifty index continued its upmove in line with our expectations and is also holding above 10,600 levels which is a major support zone. The momentum indicators and oscillators are very well in the buy mode on a weekly scale which hints that bulls are tightening the grip and the current pullback is likely to extend further. READ MORE

8:43 AM

Bulk deals on BSE as on Thursday

Click here for complete list

8:41 AM

Bulk deals on NSE as on Thursday

Click here for complete list

8:36 AM

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

8:35 AM

Rupee check

Source: Bloomberg

8:34 AM

Oil dips, heading for weekly loss as virus cases rise

>> Oil prices dipped on Friday after steep falls in the previous session and were set for a weekly decline on worries renewed lockdowns following a surge in coronavirus cases in the United States and elsewhere will suppress fuel demand.

 

>> Brent crude was down by 7 cents, or 0.2%, at $42.28 a barrel after falling more than 2% on Thursday. US oil fell 13 cents, or 0.3%, at $39.49 a barrel after a drop of 3% in the previous session.

 

>> Brent is heading for a weekly decline of more than 1% and U.S. crude is on track for a fall of nearly 3%.

(Source: Reuters)

8:29 AM

SGX Nifty hints at lower opening

>> At 8:28 am, the index was down 65 points, or 0.60 per cent, at 10,769 level.

8:27 AM

Asian stocks fall on virus worry, China stock rally pauses

Source: Reuters

8:25 AM

Dow, S&P 500 fall on fears over virus resurgence but Nasdaq ends at record high

Source: Reuters

7:47 AM

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