MARKETS ON FRIDAY: Sensex hits 35k intraday; trims gains to end 256 pts up

Sensex hits 35,000 levels in intraday trade, led by gains in banking stocks. In corporate results, Maruti reported FY18 net at Rs 77.21 billion. Stock ended 1.9% lower at Rs 8,778 levels

9:19 AM

BSE Sensex Heatmap

9:17 AM

Market at open

 

At 9:16 AM, the S&P BSE Sensex was trading at 34,862, up 149 points while the broader Nifty50 was ruling at 10,668, up 50 points.

9:01 AM

Markets at pre-open

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	34,791.28	+77.68	+0.22
S&P BSE SENSEX 50	11,156.93	+41.00	+0.37
S&P BSE SENSEX Next 50	34,474.23	+50.78	+0.15
S&P BSE 100	11,059.25	+36.83	+0.33
S&P BSE Bharat 22 Index	3,510.76	-18.58	-0.53

(Source: BSE)

8:55 AM

Commodity outlook and top trading ideas by Tradebulls for today

Gold has been affected by rising US Treasury yield and strong US Dollar. However in MCX, the fall was capped thanks to weak Indian Rupee. With geopolitical and trade risk in the rear view mirror for the time being, there is no incentive for gold to push its prices higher. Technically too Gold in COMEX is unable to sustain above $1355 and has fallen back to its trading range of $1313-1350. Now that it is trading around $1326, we don’t expect significant fall but expect it to trade in range. In MCX, the trend still is bullish with higher bottom and trend reversal may only come below 30900. Silver, on the other hand, still looks weak. In COMEX, once again it has come below $17 and 200 Day moving average. With correction in base metals, silver bears are getting active and pushing prices down. Out of gold and silver, we are bearish in silver and any long position can only be taken above 41000. READ MORE

8:51 AM

RESULT PREVIEW Will Reliance Industries' quarterly profit scale past Rs 100 billion?

Textiles to telecom conglomerate, Reliance Industries (RIL) is expected to post its best-ever quarterly consolidated net profit, with the figure expected to be close to Rs 100 billion mark. The strong quarterly expectations are on the back of its petrochemicals segment performance. In addition, retail and telecom are likely to help the company’s March 2018 quarter (Q4) performance. READ MORE

8:51 AM

Today's picks: From Bharti Infratel to HUL hot stocks to watch on Friday

Bharti Infratel

Current price: Rs 312

Target price: Rs 306

Keep a stop at Rs316 and go short. Add to the position between Rs307 and Rs308. Book profits at Rs306. READ MORE

8:49 AM

Elara Capital on Gujarat Gas

We reiterate Buy with a target price of Rs 1,115, assuming gas sales volume at 7.5mmscmd in FY19E and at 8.9mmscmd in FY20E, from 6.3mmscmd in FY18E. Our target price is based on a DCF method, with a 9.8% weighted average cost of capital (WACC), a 7% volume CAGR during FY19-29E, 4.0% long-term demand growth and Rs 4.7/scm long-term EBITDA margin

8:49 AM

Derivatives strategy on Manappuram Finance by HDFC Securities

Buy Manappuram Finance May 120 call at Rs 5.50

 

Stop loss: Rs 4

 

Target: Rs 9

 

Rationale: We have seen long positions being built in Manappuram Finance futures today where we have seen a rise in open interest with the price rise of 2%. In the option segment, 130 call added 3.72 lakh shares in open interest today suggesting higher possibility of sharp price from here. The stock price has given breakout on the daily chart where it managed to close above 5 and 20 day SMA with a sharp rise in Volumes. Momentum Indicators like RSI is showing strength in the stock for short to medium term. READ MORE

8:47 AM

NIfty Outlook (Image source: Geojit Financial Services)

8:44 AM

Top trading ideas from Prabhudas Lilladher: Buy Tata Motors, Uniply Inds

BUY TATA MOTORS 

 

CMP : Rs 330.25 

TARGET : Rs 380 

STOP LOSS : Rs 300

 

The stock has taken support at 325 on twice occasions thus making a double bottom formation like pattern in the daily chart and with the promising cues from the indicators, we anticipate a upward rise from here on to scale till 375-380 levels in the coming days. The RSI has indicated a trend reversal to signal a buy and with good volume participation witnessed, we recommend a buy in this stock for an upside target of 380 keeping a stop loss of 300. READ MORE

8:41 AM

Markets on Thursday

 

S&P BSE Sensex	34,713.60		0.62%
Nifty 50	10,617.80		0.45%
S&P BSE 200	4,666.37		0.44%
Nifty 500	9,381.35		0.34%
S&P BSE Mid-Cap	16,785.08		-0.02%
S&P BSE Small-Cap	18,164.41		0.25%

8:39 AM

SGX Nifty

The SGX Nifty was at 10,658, up 0.39 per cent from the previous close.

8:37 AM

Asian Markets

Asian shares edged higher on Friday, after US equities were buoyed by solid quarterly earnings and a rebound in technology stocks, while the euro languished near three-month lows after the European Central Bank kept interest rates unchanged.

 

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.4 per cent, while Japan’s Nikkei gained 0.4 per cent. South Korean equities were up 0.7 per cent.

8:36 AM

Wall Street

US stocks advanced on Thursday with each of Wall Street's major indexes ending the session up 1 per cent or higher, boosted by solid earnings results and a rebound in technology stocks as US bond yields pulled back.

 

The Dow Jones Industrial Average rose 238.51 points (0.99 per cent) to 24,322.34, the S&P 500 gained 27.54 points (1.04 per cent) to 2,666.94 and the Nasdaq Composite added 114.94 points (1.64 per cent) to 7,118.68.

8:35 AM

Good Morning!

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