MARKET WRAP: Sensex dips 218 pts as WPI rises to 5.77%; Tata Steel down 7%

The Sensex and Nifty fell on Monday, dented by losses in energy, realty and healthcare stocks

8:45 AM

Short-term outlook for the market remains positive: Devang Shah

The short-term outlook for the market remains positive till Nifty trades above 10557 levels and expecting targets in the range of 11600 levels in short term. Medium term outlook for the market remains positive till Nifty trades above 8,968 levels and expecting targets in the range of 12000-12200 levels in the medium term. READ MORE

8:42 AM

Top trading ideas from Prabhudas Lilladher:

BUY SUN PHARMA 

CMP: Rs 559.75 

TARGET: Rs 600 

STOP LOSS: Rs 540
 

The stock has been consolidating at around 550 - 570 and has maintained above the 34WMA moving average to indicate a positive bias and potential to rise further in the coming days. With good consistent volume participation witnessed, we recommend a buy in this stock for an upside target of 600 keeping a stop loss of 540. READ MORE

8:38 AM

Nifty outlook from Prabhudas Lilladher

Indices continue to surge with selective frontline stocks, with Energy index surging by 7.5% w.o.w especially Reliance gaining over 10%, followed by IT Sector gaining by 3.7%, the Mid-cap sector continues to be a laggard with most of the stocks continuing to make new lows. The market as such is just witnessing index management with high volatility, However, the support for the day would be seen at 10820 while the resistance would be at 11200 levels.

8:36 AM

Oil prices

US crude dipped 0.5 per cent at $70.64 a barrel, weighed by easing concerns about supply disruptions that had pushed prices higher. Brent crude was 0.7 per cent lower at $74.82 per barrel.

8:33 AM

Markets on Friday

 

S&P BSE Sensex	36,541.63		-0.02%
Nifty 50	11,018.90		-0.04%
S&P BSE 200	4,709.48		-0.25%
Nifty 500	9,349.05		-0.34%
S&P BSE Mid-Cap	15,431.47		-0.77%
S&P BSE Small-Cap	16,196.33		-1.36%

8:30 AM

SGX Nifty

The SGX Nifty was at 11,024.50, down 0.04 per cent from the previous close.

8:29 AM

Asian Markets

Asian shares were lower on Monday, brushing off the firmer Wall Street lead as investor caution dominated ahead of the release of key Chinese economic data, which is expected to show signs of a slowdown.

MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.1 per cent and Seoul’s Kospi was down 0.1 per cent. Japan’s markets are closed for a holiday Monday.

8:25 AM

Wall Street

The US stocks rose slightly on Friday, putting the S&P 500 at its highest closing level in more than five months, as gains in industrials and other areas offset a drop in financials after results from three of the big banks mostly disappointed.

 

The Dow Jones Industrial Average rose 94.52 points (0.38 per cent) to 25,019.41, the S&P 500 gained 3.02 points (0.11 per cent) to 2,801.31 and the Nasdaq Composite added 2.06 points (0.03 per cent) to 7,825.98.

8:24 AM

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