Sensex gains over 100 points, nifty reclaims 8,600; top trading ideas
The S&P BSE Sensex rose over 100 points in trade on Thursday shrugging off the directionless cues from Asian markets.
By ET Online |
NEW DELHI: The S&P BSE Sensex rose over 100 points in trade on Thursday shrugging off the directionless cues from Asian markets.
The 50-share Nifty index also managed to reclaim its crucial psychological support level of 8,600.
The gains on benchmark indices were capped by losses witnessed by index heavyweights such as L&T, HDFC Bank, SBI, Dr. Reddy and TCS.
The overall market breadth remained positive, with five out of every 10 BSE stocks trading in the positive territory.
The S&P BSE Midcap Index rose 0.40 per cent, while the S&P BSE Smallcap index edged 0.22 per cent higher in trades today.
Asian markets were mixed. Hong Kong's Hang Seng and South Korea's Kospi declined 0.50 per cent each. China's Shanghai Composite fell 0.40 per cent. Singapore's Straits Times edged down. Japan's Nikkei was quoting 0.80 per cent higher, thanks to depreciating yen, which sank to a two-month low against the during the day.
On currency front, rupee depreciated 3 paise to 63.78 against US dollar in trade today, tracking strong gains in the greenback against major world currencies.
Markets @ 2:20
Sensex: 28,355, up 130 points; Nifty: 8,604, up 36 points
BUZZING STOCKS
Siemens rose over 4 per cent in intraday trade.
Sharda Cropchem lost over 6 per cent in intraday trade.
Ramco Cements gained over 5 per cent in intraday trade.
Vardhaman Textile added nearly 6 per cent in intraday trade.
Brigade Enterprises rallied over 11 per cent in intraday trade.
Mercator plunged nearly 11 per cent in intraday trade.
Balaji Telefilms surged over 10 per cent in intraday trade.
Tree House Education spiked nearly 5 per cent in intraday trade.
Nestle India slipped over 5 per cent in intraday trade.
Adani Enterprises cracked over 5 per cent in intraday trade.
Jaypee Infratech added over 4 per cent in intraday trade.
Prism Cement slumped nearly 6 per cent in intraday trade.
Snowman plunged nearly 9 per cent in intraday trade.
Force Motors lost 5 per cent in intraday trade.
Bata India fell over 4 per cent in intraday trade post Q1 results.
WHAT TOP EXPERTS SAY
Credit Suisse raises target of Hexaware to Rs 240 from Rs 220, maintains 'Underperform'
Barclays maintains 'Overweight' on Bata India, sets target of Rs 1,410
Credit Suisse downgrades Marico to 'Neutral' from 'Outperform', raises target to Rs 480 from Rs 420
Pharma stocks to consolidate, no point in bottom fishing: Harendra Kumar
Star Network's Balaji exit sparks excitement in entertainment space: Deven Choksey
Q1 numbers, crude oulook, midcap rally lifting tyre stocks: Harendra Kumar
Infosys likely to test Rs 1,200-1,250 levels: Ashwani Gujral
ET Now spoke to various experts and here's what they have to recommend for today's trade:
Ashwani Gujral, Fund Manager, Ashwanigujral.com
Aurobindo Pharma Ltd is a 'BUY' call with a target of Rs 810 and stop loss of Rs 770
SPARC Ltd is a 'BUY' call with a target of Rs 430 and stop loss of Rs 410
Suven Life Sciences Ltd is a 'BUY' call with a target of Rs 272 and stop loss of Rs 256
UPL Ltd is a 'SELL' call with a target of Rs 535 and stop loss of Rs 562
Sandeep Wagle, Founder & CEO, Power My Wealth
EIL Ltd is a 'BUY' call with a target of Rs 261 and stop loss of Rs 238
M&M Finance Ltd is a 'BUY' call with a target of Rs 275 and stop loss of Rs 255
Glenmark Pharma Ltd is a 'BUY' call with a target of Rs 1071 and stop loss of Rs 1020
Prakash Gaba, CFT, prakashgaba.com
Financial Tech Ltd is a 'BUY' call with a target of Rs 175 and stop loss of Rs 160
MMTC Ltd is a 'BUY' call with a target of Rs 535 and stop loss of Rs 510
Ultratech Cement Ltd is a 'BUY' call with a target of Rs 3300 and stop loss of Rs 3184
Gaurav Ratnaparkhi, Technical Analyst, Sharekhan
Strides Acrolab Ltd is a 'BUY' call with a target of Rs 1360 and stop loss of Rs 1275
EIL Ltd is a 'BUY' call with a target of Rs 256 and stop loss of Rs 239
L&T Ltd is a 'BUY' call with a target of Rs 1860 and stop loss of Rs 1758
Manav Chopra, Head - Technical Analyst, Networth Stock Broking Ltd
BPCL Ltd is a 'BUY' call with a target of Rs 990 and stop loss of Rs 925
CESC Ltd is a 'BUY' call with a target of Rs 630 and stop loss of Rs 580
Onmobile Global Ltd is a 'BUY' call with a target of Rs 115 and stop loss of Rs 104
(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.)
MARKETS THROUGH THE DAY
Markets @ 1:00
Sensex: 28,233, up 10 points; Nifty: 8,569, up 1 point
Top Gainers
DR. REDDYS LAB (2.5%), LUPIN LTD (1.7%), L&T (1.6%), HINDALCO (1.1%), TCS (0.8%)
Top Losers
ITC LTD (-1.9%), COAL INDIA (-1.4%0, INFOSYS LTD (-0.6%), GAIL (-0.5%), ICICI BANK (-0.4%)
Markets @ 11:30
Sensex: 28,179 down 43 points; Nifty: 8,556, down 11 points
Markets @ 11:00
Sensex: 28,211, down 11 points; Nifty: 8,563, down 1 point
Top Gainers
DR. REDDYS LAB (2.3%), LUPIN LTD (1.6%), HINDALCO (1.1%), CIPLA (1.1%), ONGC (0.9%)
Top Losers
ITC LTD (-1.7%), ICICI BANK (-0.9%), COAL INDIA (-0.8%), WIPRO (-0.8%), GAIL (-0.5%)
Markets @ 10:20
Sensex: 28,251, up 28 points; Nifty: 8,577, up 9 points
Top Gainers
DR. REDDYS LAB (2.8%), LUPIN LTD (1.9%), CIPLA (1.3%), SUN PHARMA (1.2%), BAJAJ AUTO (0.9%)
Top Losers
ITC LTD (-1.7%), TATA STEEL (-1.0%), COAL INDIA (-0.7%), WIPRO (-0.6%), ICICI BANK (-0.6%)
Markets @ 9.20
The 30-share index was trading at 28245, up 22 points or 0.08 per cent. It touched a high of 28,314.40 and a low of 28,223.12 in trade today.
The Nifty was at 8,559 down 8 points or 0.10 per cent. It touched a high of 8590.50 and a low of 8558.85 in trade today.
The 50-share Nifty index also managed to reclaim its crucial psychological support level of 8,600.
The gains on benchmark indices were capped by losses witnessed by index heavyweights such as L&T, HDFC Bank, SBI, Dr. Reddy and TCS.
The overall market breadth remained positive, with five out of every 10 BSE stocks trading in the positive territory.
The S&P BSE Midcap Index rose 0.40 per cent, while the S&P BSE Smallcap index edged 0.22 per cent higher in trades today.
Asian markets were mixed. Hong Kong's Hang Seng and South Korea's Kospi declined 0.50 per cent each. China's Shanghai Composite fell 0.40 per cent. Singapore's Straits Times edged down. Japan's Nikkei was quoting 0.80 per cent higher, thanks to depreciating yen, which sank to a two-month low against the during the day.
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On currency front, rupee depreciated 3 paise to 63.78 against US dollar in trade today, tracking strong gains in the greenback against major world currencies.
Markets @ 2:20
Sensex: 28,355, up 130 points; Nifty: 8,604, up 36 points
BUZZING STOCKS
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Siemens rose over 4 per cent in intraday trade.
Sharda Cropchem lost over 6 per cent in intraday trade.
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Ramco Cements gained over 5 per cent in intraday trade.
Vardhaman Textile added nearly 6 per cent in intraday trade.
Brigade Enterprises rallied over 11 per cent in intraday trade.
Mercator plunged nearly 11 per cent in intraday trade.
Balaji Telefilms surged over 10 per cent in intraday trade.
Tree House Education spiked nearly 5 per cent in intraday trade.
Nestle India slipped over 5 per cent in intraday trade.
Adani Enterprises cracked over 5 per cent in intraday trade.
Jaypee Infratech added over 4 per cent in intraday trade.
Prism Cement slumped nearly 6 per cent in intraday trade.
Snowman plunged nearly 9 per cent in intraday trade.
Force Motors lost 5 per cent in intraday trade.
Bata India fell over 4 per cent in intraday trade post Q1 results.
WHAT TOP EXPERTS SAY
Credit Suisse raises target of Hexaware to Rs 240 from Rs 220, maintains 'Underperform'
Barclays maintains 'Overweight' on Bata India, sets target of Rs 1,410
Credit Suisse downgrades Marico to 'Neutral' from 'Outperform', raises target to Rs 480 from Rs 420
Pharma stocks to consolidate, no point in bottom fishing: Harendra Kumar
Star Network's Balaji exit sparks excitement in entertainment space: Deven Choksey
Q1 numbers, crude oulook, midcap rally lifting tyre stocks: Harendra Kumar
Infosys likely to test Rs 1,200-1,250 levels: Ashwani Gujral
ET Now spoke to various experts and here's what they have to recommend for today's trade:
Ashwani Gujral, Fund Manager, Ashwanigujral.com
Aurobindo Pharma Ltd is a 'BUY' call with a target of Rs 810 and stop loss of Rs 770
SPARC Ltd is a 'BUY' call with a target of Rs 430 and stop loss of Rs 410
Suven Life Sciences Ltd is a 'BUY' call with a target of Rs 272 and stop loss of Rs 256
UPL Ltd is a 'SELL' call with a target of Rs 535 and stop loss of Rs 562
Sandeep Wagle, Founder & CEO, Power My Wealth
EIL Ltd is a 'BUY' call with a target of Rs 261 and stop loss of Rs 238
M&M Finance Ltd is a 'BUY' call with a target of Rs 275 and stop loss of Rs 255
Glenmark Pharma Ltd is a 'BUY' call with a target of Rs 1071 and stop loss of Rs 1020
Prakash Gaba, CFT, prakashgaba.com
Financial Tech Ltd is a 'BUY' call with a target of Rs 175 and stop loss of Rs 160
MMTC Ltd is a 'BUY' call with a target of Rs 535 and stop loss of Rs 510
Ultratech Cement Ltd is a 'BUY' call with a target of Rs 3300 and stop loss of Rs 3184
Gaurav Ratnaparkhi, Technical Analyst, Sharekhan
Strides Acrolab Ltd is a 'BUY' call with a target of Rs 1360 and stop loss of Rs 1275
EIL Ltd is a 'BUY' call with a target of Rs 256 and stop loss of Rs 239
L&T Ltd is a 'BUY' call with a target of Rs 1860 and stop loss of Rs 1758
Manav Chopra, Head - Technical Analyst, Networth Stock Broking Ltd
BPCL Ltd is a 'BUY' call with a target of Rs 990 and stop loss of Rs 925
CESC Ltd is a 'BUY' call with a target of Rs 630 and stop loss of Rs 580
Onmobile Global Ltd is a 'BUY' call with a target of Rs 115 and stop loss of Rs 104
(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.)
MARKETS THROUGH THE DAY
Markets @ 1:00
Sensex: 28,233, up 10 points; Nifty: 8,569, up 1 point
Top Gainers
DR. REDDYS LAB (2.5%), LUPIN LTD (1.7%), L&T (1.6%), HINDALCO (1.1%), TCS (0.8%)
Top Losers
ITC LTD (-1.9%), COAL INDIA (-1.4%0, INFOSYS LTD (-0.6%), GAIL (-0.5%), ICICI BANK (-0.4%)
Markets @ 11:30
Sensex: 28,179 down 43 points; Nifty: 8,556, down 11 points
Markets @ 11:00
Sensex: 28,211, down 11 points; Nifty: 8,563, down 1 point
Top Gainers
DR. REDDYS LAB (2.3%), LUPIN LTD (1.6%), HINDALCO (1.1%), CIPLA (1.1%), ONGC (0.9%)
Top Losers
ITC LTD (-1.7%), ICICI BANK (-0.9%), COAL INDIA (-0.8%), WIPRO (-0.8%), GAIL (-0.5%)
Markets @ 10:20
Sensex: 28,251, up 28 points; Nifty: 8,577, up 9 points
Top Gainers
DR. REDDYS LAB (2.8%), LUPIN LTD (1.9%), CIPLA (1.3%), SUN PHARMA (1.2%), BAJAJ AUTO (0.9%)
Top Losers
ITC LTD (-1.7%), TATA STEEL (-1.0%), COAL INDIA (-0.7%), WIPRO (-0.6%), ICICI BANK (-0.6%)
Markets @ 9.20
The 30-share index was trading at 28245, up 22 points or 0.08 per cent. It touched a high of 28,314.40 and a low of 28,223.12 in trade today.
The Nifty was at 8,559 down 8 points or 0.10 per cent. It touched a high of 8590.50 and a low of 8558.85 in trade today.
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