Sensex cracks 600 points; Nifty breaks below 8,800; top 20 intraday bets

NEW DELHI: The S&P BSE Sensex cracked over 600 points in trade on Monday, following a sharp cut in Indian rupee against the US dollar and fears that the US may go an earlier than expected rate hike.

At 3 pm, Sensex was at 28,916.00; down 532.95 points. Nifty was at 8,774.85; down 162.90 points. Top losers on the 30-stock index were were Hindalco (-4.1%), BHEL (-4.0%), SESA STERLITE (-4.0%), ICICI BANK (-4.0%), GAIL (-3.9%).

Tracking the momentum, the 50-share Nifty index also came under pressure and broke below its crucial psychological level of 8800, weighed by losses in banks, autos, power and metal stocks.

The rupee plummeted by 50 paise to 62.66 against the US dollar in early trade today as the American currency strengthened overseas.

Forex dealers said besides the dollar's gains against other currencies overseas on an upbeat US jobs data, fresh demand from importers for the Greenback and a weak opening in the domestic stock market put pressure on the rupee, PTI reported.

ET Now spoke to various experts and here's what they have to recommend for today's trade:

Mitesh Thacker of miteshthacker.com

BHEL Ltd is a 'SELL' call with a target of Rs 255 and a stop loss of Rs 270

M&M Financial Services Ltd is a 'BUY' call with a target of Rs 275 and a stop loss of Rs 252

Motherson Sumi Ltd is a 'BUY' call with a target of Rs 525 and a stop loss of Rs 482

Reliance Power Ltd is a 'SELL' call with a target of Rs 55 and a stop loss of Rs 61.51

Sandeep Wagle, Founder & CEO, Power My Wealth

Glenmark Pharma Ltd is a 'BUY' call with a target of Rs 915 and a stop loss of Rs 834

UPL Ltd is a 'BUY' call with a target of Rs 446 and a stop loss of Rs 422

Dabur India Ltd is a 'BUY' call with a target of Rs 285 and a stop loss of Rs 268

Gail India Ltd is a 'SELL' call with a target of Rs 381 and a stop loss of Rs 397

Prakash Gaba, CFT, prakashgaba.com

Dabur India Ltd is a 'BUY' call with a target of Rs 280 and a stop loss of Rs 266

HUL Ltd is a 'BUY' call with a target of Rs 980 and a stop loss of Rs 930

Ranbaxy Laboratories Ltd is a 'BUY' call with a target of Rs 840 and a stop loss of Rs 770

Bosch Ltd is a 'BUY' call with a target of Rs 29000 and a stop loss of Rs 26100

Mayank Mehta, Derivative Analyst, KIFS Securities

UPL Ltd is a 'BUY' call with a target of Rs 450 and a stop loss of Rs 420

Havells India Ltd is a 'BUY' call with a target of Rs 295 and a stop loss of Rs 275

Kunal Saraogi, CEO at Equityrush.com

JP Power Ltd is a 'SELL' call with a target of Rs 11.20 and a stop loss of Rs 12

BHEL Ltd is a 'SELL' call with a target of Rs 255 and a stop loss of Rs 270

Reliance Industries Ltd is a 'BUY' call with a target of Rs 910 and a stop loss of Rs 880

Gaurav Bissa, Derivatives Analyst, LKP Securitie

Glenmark Pharma Ltd is a 'BUY' call with a target of Rs 890 and a stop loss of Rs 820

Bajaj Auto Ltd is a 'BUY' call with a target of Rs 2175 and a stop loss of Rs 2065

United Breweries Ltd is a 'BUY' call with a target of Rs 1080 and a stop loss of Rs 995

(Views and recommendations expressed in this section are the analysts' own and do not represent those of EconomicTimes.com. Please consult your financial advisor before taking any position in the stocks mentioned.)