MARKET WRAP: Sensex slips 107 pts ahead of RBI policy outcome; banks fall

Among the sectoral indices, the Nifty Bank index fell 0.61 per cent weighed by HDFC Bank and State Bank of India (SBI)

9:02 AM

Market at pre-open

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	36,344.57	+103.57	+0.29
S&P BSE SENSEX 50	11,419.16	+29.39	+0.26
S&P BSE SENSEX Next 50	32,353.95	+10.57	+0.03
S&P BSE 100	11,171.23	+25.03	+0.22
S&P BSE Bharat 22 Index	3,438.01	+8.03	+0.23

9:01 AM

Rupee opening

Rupee opens at 70.49/$ vs its previous close of 70.46 against the dollar

8:57 AM

Today's picks

 

Hindalco

Current price: Rs 233

Target price: Rs 238

 

Keep a stop at Rs 231 and go long. Add to the position between Rs 236 and Rs 237. Book profits at Rs 238.

 

Hind Unilever 

Current price: Rs 1,825

Target price: Rs 1,860

 

Keep a stop at Rs 1,815 and go long. Add to the position between Rs 1,845 and Rs 1,855. Book profits at Rs 1,860. Click here to read more

8:50 AM

Top trading calls by Anand Rathi: Buy Apollo Hospitals

 

APOLLO HOSPITALS: BUY

TARGET: Rs 1380

STOP LOSS: 1245

 

The stock has again confirmed higher tops and higher bottom formations after having broken from an inverse head and shoulders pattern as well as from the falling channel pattern. The momentum indicators are well in buy mode in the short as well as medium term. CLICK HERE FOR MORE

8:46 AM

Buy DCB Bank for a target of Rs 180, SL of Rs 153: Prabhudas Lilladher

CMP: Rs 161.45

 

The stock has been consolidating at around 156 levels for quite some time and currently has produced a positive bullish candle pattern in the daily chart to signify strength and has potential to continue with the momentum still further upward in the coming days. The RSI has indicated a positive bias with a trend reversal and with good volume activity seen, we recommend a buy in this stock for an upside target of 180 keeping a stop loss of 153. READ MORE

8:40 AM

Oil prices extend gains on expected OPEC-led production cuts

Oil prices rose on Tuesday, extending strong gains from the previous day amid expected OPEC-led supply cuts and a mandated reduction in Canadian output.
 

US West Texas Intermediate (WTI) crude futures were at $53.20 per barrel, up 25 cents, or 0.5 per cent, from their last close. International Brent crude oil futures had yet to trade. READ MORE

8:37 AM

Rupee ends 4-day winning run, drops 88p at 70.46 per dollar on oil price

The rupee Monday snapped a four-day rising streak and dropped by 88 paise to close at 70.46 against the dollar, as oil prices rebounded and the US currency gained strength. It was the biggest single-day loss in more than three months for the rupee. READ MORE

 

8:34 AM

SGX Nifty

The SGX Nifty is trading at 10,926, down 12.50 points or 0.11 per cent.

8:32 AM

Asian Markets

Asian shares fell in early trade on Tuesday as a relief rally sparked by a truce in the US-China trade war gave way to doubts on whether the two countries are able to resolve their differences before a 90-day deadline.

 

MSCI's broadest index of Asia-Pacific shares outside Japan edged down 0.2 per cent as the Australian market gave up 0.5 per cent and Seoul's Kospi fell 0.6 per cent. Japan's Nikkei stock index was 0.3 per cent lower.

8:30 AM

Wall Street

The Dow Jones Industrial Average rose 287.97 points, or 1.13 per cent, to 25,826.43, the S&P 500 gained 30.2 points, or 1.09 per cent, to 2,790.37 and the Nasdaq Composite added 110.98 points, or 1.51 per cent, to 7,441.51.

8:24 AM

Good Morning!

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