MARKETS ON THURSDAY: Nifty ends at 10,717, Midcaps slip; Realty stocks hit

The S&P BSE Sensex ended at 35,246, down 73 points. Realty stocks were among the top losers, followed by pharma scrips.

8:51 AM

Top trading ideas for today's trade: Buy Tata Motors, Amararaja Batt

Stock: TATA MOTORS

Reco.: Buy

CMP : Rs 342

 

Occurrence of a bullish harami formation at on the monthly scale near the 78.6% retracement support of its previous impulse upmove, reconfirms the strength in the support around 330. The recent rebound from the said support augurs well for a fresh directional momentum in the offing. Short term longs could be considered around 340 with a stop below 324 for an immediate move back towards 385. READ MORE

8:51 AM

Stocks in news

 

 

 

·         Fortis board will meet today to decide on various bids/proposals

 

·         Ashoka Buildcon: Arbitral Tribunal awards SPV additional 1,384 toll days. To get Rs 37.71 cr as compensation for toll loss

 

·         Reliance Infra to consider rights issue, QIP proposals on May 14

 

·         Federal Bank CEO says IDBI Federal Life deal expected to be final by July

 

·         Welspun Enterprises emerges as L1 for road project in Tamil Nadu at Bid price of Rs 1,837 crore

 

·         Cipla partners with Mannkind for exclusive marketing, distribution of Afrezza in India

 

·         PNC Infratech gets Rs 33.7 crore bonus annuity from Raebareli unit

 

·         Star Cement receives Rs 200 crore towards subsidies claim

 

·         Tata Metaliks says main production unit including Blast furnace expected to be back on stream by May 17

 

·         KKR Infuses Rs 1250 crore in Sintex Plastics Technology subsidiary, SBAPL via structured finance

 

·         Hikal Ltd board approves 1:2 bonus issue

 

·         Avanti Feeds board approves 1:2 bonus issue 

(Source: IIFL report)

8:49 AM

MARKET COMMENT Amar Ambani, head of research, IIFL

Stock-specific theme continues to play out in the market and since the lows of March this year, it has been a ‘sell on highs and buy on dips’ approach among traders. The trading range is gradually moving on the upside but a confident breakout has been evading the indices. The Indian economy is expected to grow at 7.4 per cent in FY19, and move further to 7.8pc in the next fiscal, according to IMF.

The rupee ended at a fresh 15month low of 67.12 against dollar. Crude oil crossed USD 77/barrel on the back of Trump withdrawing out of the Iran accord. US markets rose as energy stocks zoomed. Asian shares are trading high. Adani Enterprises, Apollo Tyres, Asian Paints, Indian Bank, Mphasis, Nestle, Ujjivan Financial, Titan Company and Union Bank of India are set to declare their results today. The outlook is a flat start

8:46 AM

Today's picks: From Infosys to HPCL, hot stocks to watch on Thursday

Infosys 

Current price: Rs 1,170

Target price: Rs 1,190
 

Keep a stop at Rs 1,160 and go long. Add to the position between Rs 1,180 and Rs 1,185. Book profits at Rs 1,190. READ MORE

8:44 AM

Nifty outlook from Prabhudas Lilladher for today

The daily trend of Nifty has turned up after 4 days but still as said earlier, the levels of 10780-10800 would be crucial and only a decisive breach above that level would decide for a fresh further movement of the index. As of now, all eyes are waiting for the Karnataka election results and it would be a big event to watch for. However, the support for the day is seen at 10680 while resistance is seen at 10790. READ MORE

 

8:41 AM

Markets on Wednesday

 

S&P BSE Sensex	35,319.35		0.29%
Nifty 50	10,741.70		0.22%
S&P BSE 200	4,688.24		0.01%
Nifty 500	9,418.90		-0.01%
S&P BSE Mid-Cap	16,530.15		-0.63%
S&P BSE Small-Cap	18,084.96		-0.13%

8:40 AM

SGX Nifty

The SGX Nifty was at 10,774.50, up 0.02 per cent from the previous close.

8:37 AM

Asian Markets

Asian stocks rose on Thursday, with energy shares leading the way as crude oil prices bolted higher after US President Donald Trump's decision to pull out of a nuclear deal with Iran.

 

MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 0.4 per cent, while Japan’s Nikkei climbed 0.1 per cent. South Korea’s KOSPI rose 0.4 per cent and Shanghai edged up 0.3 per cent.

8:36 AM

Wall Street

Wall Street surged on Wednesday as surging oil prices boosted energy stocks following US President Donald Trump's decision the previous day to quit a nuclear agreement with Iran.

 

The Dow Jones Industrial Average rose 0.75 per cent to end at 24,542.54 points, while the S&P 500 gained 0.97 per cent to 2,697.79. The Nasdaq Composite added 1 per cent to finish the session at 7,339.91.

8:35 AM

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