MARKET WRAP: Indices end at over 5-month high, Nifty at 10,947; RIL up 3%

Benchmark indices rose on Tuesday led by index heavyweights such as Reliance Industries (RIL).

9:17 AM

Markets at open

At 9:17 am, the S&P BSE Sensex was trading at 36,080, up 145 points while the broader Nifty50 index was ruling at 10,893 up 40 points

9:01 AM

Markets at pre-open

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	35,978.33	+43.61	+0.12
S&P BSE SENSEX 50	11,379.52	+10.35	+0.09
S&P BSE SENSEX Next 50	32,338.31	+55.04	+0.17
S&P BSE 100	11,137.46	+11.44	+0.10
S&P BSE Bharat 22 Index	3,345.49	-0.35	-0.01

(Source: BSE)

9:00 AM

TCS Q1FY19 result preview: Commentary on BFSI, digital business key

Tata Consultancy Services (TCS) is likely to announce its results for the June quarter (Q1FY19) post market hours on July 10. In the recently concluded quarter, TCS – the largest Indian IT firm by sales – announced Rs 160 billion buyback under the tender route. This is the second time in as many years that the Tata group company is resorting to a buyback. READ MORE

8:51 AM

Top trading ideas by Anand Rathi Research: Buy Just Dial, Power Grid

JUST DIAL - BUY

TARGET: Rs 622

STOP LOSS: Rs 579.90

 

The stock has provided a breakout from the downtrend line resistance with a buy crossover in its momentum indicator. The stock has started its wave 5 up which indicates that the previous high will be taken off.

POWER GRID - BUY

TARGET: Rs 187.40

STOP LOSS: Rs 181.95

 

The stock seems to have completed a five waves declining structure and a minimum of 38.2% retracement of the same is expected on the upside. On the lower side, the immediate support is pegged at 181.95, hence that is the stop loss where as on the upside 187.40 is an immediate target. READ MORE

8:48 AM

Top trading ideas from Prabhudas Lilladher for today:

BUY MEGHMANI ORGANICS

CMP: Rs 90

TARGET: Rs 103

STOP LOSS: Rs 83

 

The stock has corrected well from the peak of 114 to bottom out at around 78 levels to form a double bottom formation pattern in the daily chart and currently has produced a positive bullish candle to signify strength and potential to rise further in the coming days. The RSI has indicated a steep rise with a trend reversal to signify a positive bias and has made the stock to look attractive for an up move. With decent volume participation witnessed, we recommend a buy in this stock for an upside target of 103 keeping a stop loss of 83. READ MORE

8:45 AM

Nifty outlook from Prabhudas Lilladher:

Nifty has indicated a breakout above the 10,830 levels and improved the sentiment and bias also along with Bank Nifty which gave a decent bounce from the level of around 26,100 and now need to cross the barrier of 26,800-26,850 decisively to confirm a positive bias. However, the support for the day is seen at 10,800 levels while the resistance would be at 10,900. With the results of TCS and Infy to be released this week, it would be a result driven market.

8:44 AM

Today's picks: From TCS to Asian Paints, hot stocks to watch today

TCS

Current price: Rs 1,884

Target price: Rs 1,915

 

Keep a stop at Rs 1,865 and go long. Add to the position between Rs 1,905 and Rs 1,910. Book profits at Rs 1,915.

 

Asian Paints

Current price: Rs 1,363

Target price: Rs 1,385

 

Keep a stop at Rs 1,350 and go long. Add to the position between Rs 1,375 and Rs 1,380. Book profits at 1,385. READ MORE

8:36 AM

Markets on Monday

 

S&P BSE Sensex	35,934.72		0.78%
Nifty 50	10,852.90		0.74%
S&P BSE 200	4,667.33		0.82%
Nifty 500	9,277.95		0.91%
S&P BSE Mid-Cap	15,581.08		1.23%
S&P BSE Small-Cap	16,313.94		1.58%

8:35 AM

SGX Nifty

The SGX Nifty was at 10,894.50, up 0.22 per cent from the previous close.

8:34 AM

Asian Markets

Asian shares sought to rally for a third session on Tuesday as hopes for upbeat corporate earnings buoyed Wall Street, while several high-profile resignations from Britain’s government kept sterling on the defensive.

 

MSCI’s broadest index of Asia-Pacific shares outside Japan put on 0.2 per cent in early trade, adding to a 1.3 per cent rise on Monday. Japan's Nikkei climbed 0.8 per cent and South Korea 0.6 per cent.

8:32 AM

Wall Street

US stocks rose on Monday, giving the Dow and S&P 500 their biggest gains in more than a month, as bank shares jumped ahead of earnings reports later this week.

 

The Dow Jones Industrial Average rose 320.11 points (1.31 per cent) to 24,776.59, the S&P 500 gained 24.35 points (0.88 per cent) to 2,784.17 and the Nasdaq Composite added 67.81 points (0.88 per cent) to 7,756.20.

8:30 AM

Good Morning!

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