Sensex slumps 166 points; Nifty50 below 9,650; Tata Motors top loser

With the domestic equity indices ruling at all-time high levels, investors are wondering where to find some margin of safety. When the market is on a high, it gives investors the ultimate puzzle: whether to buy more or take some profit off the table?

With India Inc expanding its wings across the world, some of the Indian multinationals have been caught off guard by protectionist policies in the West. But some frontline firms squarely focussed on the domestic market have not only weathered the domestic storm well but also excelled in a tough environment and rewarded stock investors. One such stock is Maruti Suzuki.

Shares of Sun Pharma (Rs 294.25 crore), Vedanta Ltd (Rs 246.67 crore), Infosys (Rs 233.93 crore), Maruti Suzuki (Rs 201.71 crore), SBI (Rs 200.74 crore), DLF (Rs 195.97 crore), HDFC (Rs 194.46 crore), Tata Steel (Rs 184.62 crore), M&M (Rs 183.99 crore), Larsen & Toubro (Rs 176.86 crore) stood among most active stocks in terms of value on NSE.

KSS (down 33.33 per cent), Vascon Engineer (down 20 per cent), Pan India Corp (down 16.67 per cent), Northgate Com (down 10 per cent), Signet Ind (down 9.55 per cent), Chromatic India (down 9.43 per cent), Uttam Value Stl (down 9.09 per cent), Nu Tek India (down 8.33 per cent), Compuage Infocom (down 8.13 per cent), Jayaswal Neco (down 7.91 per cent) declined over 5 per cent in Monday's trade on the NSE.

PSU bank stocks fell up to 3 per cent in Monday's trade as Finance Minister Arun Jaitley met with heads of public sector banks on issues relating to rising non-performing assets (NPAs) in the sector. It was expected that the meet will look at the steps these banks are taking to expedite the recovery of bad loans.

Shares of Tata Communications fell 3 per cent in Monday’s trade even as the company on Saturday said that it has partnered with Alibaba Cloud, the cloud computing arm of Alibaba Group, to offer customers from over 150 countries, including India, to connect to Alibaba Cloud’s ExpressConnect via Tata Communications’ IZO™ Private Connect service.

Nifty IT index was down 0.95 per cent at 10,343.1 around 10:44 am on June 12, as the IT stocks extended their losses into the fourth straight trading session. Barring the shares of Tech Mahindra (up 0.04 per cent), all IT shares were trading down at around the same time. Wipro (down 2.80 per cent ), Just Dial (down 2.59 per cent ), KPIT Technologies (down 1.02 per cent ), Tata Consultancy Services (down 0.88 per cent ) and MindTree (down 0.79 per cent ) were among top losers in the index.

The Nifty50 extended its winning streak to the fifth consecutive week. Though no major downside was seen throughout the week, but the benchmark equity indices continued to put up a lacklustre show. The broader market trend in last five sessions was more of the sideways movement between 9,600 and 9,710 levels. Based on various brokerage recommendations, we have collated a list of 20 trading strategies for the next 14-21 sessions.

Stocks such as Northgate Com, Shilpi Cable Tec, LGB Forge, Videocon Ind, Nitin Fire Prot, Hindustan Dorr, Spice Mobility, Signet Ind, Bharati Ship, Tera Software, Noida Toll Brid, DS Kulkarni Dev, OnMobile Global, Precision Camshafts, Moser Baer, AstraZeneca, Reliance Comm, KSS Ltd, REI Agro, FCS Software touched their fresh 52-week low.

Shares of Titan Company surged 3 per cent in Monday's trade after the GST Council slashed indirect tax on jewellery-making charges to 5 per cent from 18 per cent penciled in earlier. Following the development, the scrip rose 3 per cent to hit a high of Rs 532.75 on BSE.

Shares of M&M (up 1.70 per cent), Tata Steel (up 1.02 per cent), GAIL (up 0.97 per cent), Sun Pharma (up 0.79 per cent), Aurobindo Pharm (up 0.76 per cent), Hindalco Inds. (up 0.64 per cent), Indian Oil Corp (up 0.58 per cent), ONGC (up 0.53 per cent), Cipla (up 0.44 per cent), Vedanta Ltd (up 0.41 per cent), Dr Reddys Labs (up 0.35 per cent), Kotak Bank (up 0.29 per cent), ITC (up 0.25 per cent), Hero MotoCorp (up 0.22 per cent), Tech Mahindra (up 0.21 per cent), PowerGrid (up 0.14 per cent) and BPCL (up 0.06 per cent) stood among top gainers in the Nifty50 index in Monday 's morning trade.

The rupee opened 11 paise down at 64.35 against dollar on account of fresh demand for the US currency from importers and banks amid cautious global sentiment.

Sensex slips 40 points, Nifty trades flat; Rupee opens at 64.36 against US dollar.

The rupee weakened marginally against the US dollar on Friday ahead of the key macro economic data due next week. Traders are also cautious before next week’s rate review by the US Federal Reserve. The domestic currency closed at 64.25, down 0.07 per cent from Thursday’s close of 64.21.

On Friday, the Dow Jones Industrial Average index advanced 89.44 points, or 0.42 per cent, to close at 21,271. The S&P500 index declined 2.02 points, or 0.08 per cent, to 2,431. The Nasdaq Composite index slipped 113 points, or 1.8 per cent, to end at 6,207.

Asian markets were trading lower in early trade on Monday. MSCI's Asia-Pacific index was still shy of a two-year high scaled late last week. Japan's Nikkei was down 0.5 per cent and South Korea's Kospi 0.5 per cent. Australian markets were closed for a public holiday, said a Reuters report.

At 6.20 am, Nifty50 futures on the Singapore Stock Exchange were trading 33.5 points, or 0.35 per cent, lower at 9,648, indicating a tepid start for the domestic market.

The domestic equity market ended on a positive note on Friday, shrugging off the shock outcome in the UK election. The S&P BSE Sensex, which traded weak through most part of the day, gained 49 points to end the day at 31,262 with Maruti (up 3.13 per cent), Tata Steel (up 1.47 per cent), HDFC Bank (up 1.41 per cent) and Tata Motors (up 1.40 per cent) being the top gainers.