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Tuesday, January 14, 2025 | 04:48 AM ISTEN Hindi

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MARKET WRAP: Indices reverse losses to end in green, Nifty reclaims 10,900

The S&P BSE Sensex ended at 36,347, up 77 points or 0.2 per cent, while NSE's Nifty50 index reclaimed the crucial 10,900 level to sign off the day at 10,909, up 20 points or 0.2 per cent.

Image SI Reporter New Delhi
(Photo: Kamlesh Pednekar)

(Photo: Kamlesh Pednekar)

5:01 AM

IT stocks under pressure; Infosys, Wipro down 2%
 
Shares of information technology (IT) companies were under pressure with Nifty IT index falling over 1% on Tuesday after Wall Street’s all major indices slid more than 2% on Monday, amid concerns about slowing economic growth ahead of a highly anticipated decision from the Federal Reserve on the course of US interest-rate hikes. The FOMC is scheduled to meet on Tuesday and Wednesday. Read more
4:45 AM

Ashoka Buildcon climbs 8% on investment by Morgan Stanley
 
Shares of Ashoka Buildcon rose as much as 8.25 per cent to Rs 137.70 apiece on BSE in the early trade on Tuesday as a news report suggested the company has raised Rs 1.50 billion from Morgan Stanley India Infrastructure in its gas distribution business.
 
Ashoka Buildcon announces Rs 1.50 billion investment commitment into its city gas distribution (CGD) business Unison Enviro by Morgan Stanley India Infrastructure. UEPL builds and operates CGD networks across cities and towns in India, as per company release. Read more
 
4:32 AM

Market check
Index Current Pt. Change % Change
 
S&P BSE SENSEX 36,104.54 -165.53 -0.46
 
S&P BSE SENSEX 50 11,351.15 -51.31 -0.45
 
S&P BSE SENSEX Next 50 32,586.37 +33.22 +0.10
 
S&P BSE 100 11,126.44 -41.10 -0.37
 
S&P BSE Bharat 22 Index 3,443.38 +2.59 +0.08

4:27 AM

Credit Suisse bets on industrial stocks for 2019; L&T, BHEL are top picks

Swiss financial services company Credit Suisse is betting on industrial stocks for 2019, though the sector has underperformed the market in the past three years, despite posting good earnings growth, said the brokerage. The fortunes of industrial stocks hinge on construction and manufacturing. READ MORE
4:09 AM

JM Financial Services on Zensar Technologies
 
We initiate coverage on Zensar (ZENT) with a BUY rating for a 20 per cent upside. We believe the business refocusing underway since the CEO change in 3QFY16 is nearing completion. ZENT is positioning itself as a challenger to the scale players in clients with significant IT spend (7/15 of the Top 20/40 clients are Fortune500 companies). While this may constrain margins and/or DSOs (day sales outsanding) in the near term, the potential revenue upside could be significant, in our view. 
 
ZENT currently trades at 15x 12-month forward EPS; our Dec-19 TP of Rs 290 is also at 15x target PER (price-earnings ratio), that is in-line with the 6% 3-year median discount to market-cap weighted PER of mid-cap IT services players (MTCL/NITEC/ HEXW/LTI). We see a 20% potential upside in the stock over the next 12-18 months. Sale of the Multi-Vendor Support (MVS) business could be a potential near-term trigger.
4:03 AM

Dalal Street pins hopes on pickup in earnings next financial year

With consensus earnings growth for 2018-19 (FY19) likely to undershoot expectations, the Street is pinning hopes on the next financial year (FY20) for a meaningful and sustained pick up in earnings. Domestic fund managers are of the opinion that the consensus growth estimates of 21 per cent for FY20 are achievable. READ MORE

3:53 AM

Infosys slips over 2% in early trade

3:51 AM

Ashoka Buildcon up over 5% in early trade

3:49 AM

Sectoral trend on NSE

3:48 AM

Opening gainers and losers on BSE Sensex

3:46 AM

Market at open
 
At 9:15 AM, the S&P BSE Sensex was trading at 36,089, down 181 points while the broader Nifty50 was ruling at 10,831, down 57 points.
3:32 AM

Market at pre-open
Index Current Pt. Change % Change
 
S&P BSE SENSEX 36,329.66 +59.59 +0.16
 
S&P BSE SENSEX 50 11,421.84 +19.38 +0.17
 
S&P BSE SENSEX Next 50 32,575.68 +22.53 +0.07
 
S&P BSE 100 11,184.82 +17.28 +0.15
 
S&P BSE Bharat 22 Index 3,448.01 +7.22 +0.21

3:31 AM

Rupee opening
 
Rupee opens firm at 71.33/$ vs its previous close of 71.56 against the US dollar 
3:28 AM

Top trading calls by Anand Rathi: Buy ITC, HDFC Bank
 
ITC: BUY
TARGET: Rs 292
STOP LOSS: Rs 274
 
The stock has provided a breakout above its previous swing resistance with a buy crossover in its momentum indicators which is also a positive crossover. On the upside, the stock is likely to test the levels of 292 whereas the support on the lower side is pegged at 274. Read more
3:25 AM

Buy Tata Chemicals for a target of Rs 770: Prabhudas Lilladher

BUY TATA CHEM
CMP: Rs 705.45
TARGET: Rs 770
STOP LOSS: Rs 670
 
The stock has indicated a higher bottom formation pattern in the daily chart and has given a good bounce and currently has produced a positive bullish candle to signify strength and is on the verge of a breakout above the significant 200 DMA moving average to improve the bias. The RSI has given a trend reversal and is on the rise and with decent volume participation witnessed, we recommend a buy in this stock for an upside target of 770 keeping a stop loss of 670. READ MORE

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First Published: Dec 18 2018 | 8:04 AM IST