STOCK MARKET LIVE: Sensex, Nifty volatile; gold, silver trends positive; check experts' analysis on IT, automobiles, metals, real estate, banking sector stocks and monsoon effect
Markets Live: After a heavy fall in the stock market yesterday, major Indian equity indices rose substantially today on ease in China-US trade war tension and Fereral Reserve's rate cut hopes. BSE's Sensex rose 322.45 to 39,368.79 and NSE's Nifty 50 was trading 0.79% higher at 11,784.3. As market moves due to various factors, retail investors have little information to find out the stocks that can give them good returns. Here the investors can get information regarding stocks and fundamental analysis of the share market.
6:30 pm: Deepak Jasani, Head Retail Research at HDFC securities said technically Nifty remained in a short-term downtrend and traders will need to watch if the index can now hold above the crucial immediate supports of 11,614-11,591; else a further correction is likely.
Markets ended on a flat note on Wednesday after a volatile session. The Nifty index ended 0.05 points lower at 11,691.45. Broad market indices like the BSE Mid Cap and Small Cap indices lost more, thereby underperforming the Sensex/Nifty. Market breadth was negative on the BSE/NSE. Indian markets today punished severely stocks with questionable corporate governance norms and/or high debt. This has resulted in retail investors staring at further fall in their portfolio value, he said.
Jain irrigation closed 28% lower after India Ratings cuts its long term issuer Rating to BBB with 'Watch Negative' outlook. The downgrade reflects deterioration in the liquidity profile on account of delay in realisation of receivables from its micro-irrigation systems (MIS) segment.
6 pm: HDFC buys Apollo Munich's 51.2% share for Rs 1,350 crore. HDFC share today closed 1.11% up at 2178.3.
5:50 pm: Reliance Capital, DBL, HEG, Reliance Power, Adani Ports, Reliance Infra, JM Financials, Manppuram, Naukri, Jindal Steel, Glenmark are among the small cap stocks that witnessed heavy selling pressure. These stocks fell between over 16% and 3% on the NSE. Small cap index to fell over 1%.
MidCap stocks too saw negative trends. MidCap indices fell both on BSE and NSE.
JM Financial Commodities report:
5:30 pm: Natural Gas (June): Natural Gas prices are likely to trade with negative bias. The immediate support is at ` 160, next support is at 157. The important resistance is at 171.50 level. Until prices close above ` 171.50, selling on rise is advisable.
5:25 pm: Crude oil (June): Crude oil prices are trading on negative note. The immediate support at ` 3,680, next support is at 3,630. The important resistance is at 3,850 levels. Until prices close above ` 3,850, selling on rise is advisable.
5:20 pm: Silver (July): Silver prices are likely to trade on positive note with immediate support at 37,000, next support is at 36,800. The important resistance is at 38,000
levels. Until prices close below 36,800, buying is advisable.
5:10 pm: Gold (August): Gold prices are likely to trade on positive note. The immediate support is at 32,980, next support is at ` 32,880. The important resistance is at ` 33,270
levels. Until prices are holding below 32,880, buying is advisable.
Factors that may affect stock market:
GST on electric vehicles: There may be GST cut on electric vehicles (EV) from 12% to 5%. Rate on EV chargers may also go down.
5 pm: Monsoon: After hitting Kerala nearly a week late, monsoon progressed slowly than usual. Monsoon rains have been 44% lower-than-average in June. This is delaying the sowing of summer crops.
4:30 pm: BSE SmallCap and MidCap indices fell.
4:10 pm: Gold, silver prices up. Oil prices volatile.
4 pm: Tata Steel, Kotak Mahindra Bank, NTPC, and Titan shares top gainers in Nifty 50.
3:50 pm: Nifty 50 trend:
Nagaraj Shetti, Technical Research Analyst, HDFC securities, said Nifty 50 was not able to sustain the upside bounce today, closed on a flat note. "After showing consolidation at the lows in the last session, the Nifty was not able to sustain the upside bounce today, closed on a flat note. We observe a bout of volatility near the resistance of 11,800 mark. Nifty failing to sustain above the key overhead resistance of 11,780-800 levels today could open up chances of further weakness in the market ahead," Shetti said.
He said that further decisive decline below the immediate support of 11,650 could result in Nifty filling the previous opening upside gap of May 20, around 11,425 levels in the near term.
3:33 pm: BSE Sensex ended at 39,112.74, up 0.17%, while Nifty 50 closed flat at 11,691.45 over the previous day's close.
3:28 pm: (Zee Business TV exclusive) There may be GST cut on electric vehicles (EV) from 12% to 5%. This is expected to be finalised at June 21 meeting.
3:25 pm: Automobiles, Metals and Real estate shares down.
3:15 pm: Indiabulls Housing Finance share was trading about 8% lower at 561.50.
3 pm: IndiGo share:
(Zee Business TV experts panel stock recommendations): This stock fell 3.65% to 1,602.45. An expert on Zee Business TV said that IndiGo is going to gain from the closure of Jet Airways and fundamentals of the stock is also quite good. If the share crosses the Rs 17,00 mark, then this will go much beyond that point, said an expert. She recommended stop loss at Rs 1,590.
2:50 pm: BSE Sensex slipped below 39,000 level. The 30-stock index is now trading 38,918.95, down 127.39 points oe 0.33%. The benchmark BSE index today witnessed high of 39,435.80.
2:30 pm: BSE IT Index (CMP: 15,940.15) outlook positive:
GajendraPrabu, Technical Research Analyst at HDFC Securities, analysis:
* The daily chart of “BSE IT index” shows that it has resumed the next rising leg post minor downward retracement. Price has been maintaining higher tops and higher bottoms which is a bullish continuation structure
* Price has found support and has turned up from the near term key moving average of 13 Day EMA.
* KST oscillator is continuing with positive momentum and placed with a buy signal. In the current rising leg from 15,015 levels, all dips are just minor retracements before next rises and this leg could head towards new life highs i.e. above 16300 levels
*Traders can maintain mildly positive stance in IT stocks; upside target is placed at 16,290 with a stop loss of 15,623 on closing basis.
* Stocks to watch: Infosys, TCS, HEXAWARE & FSL.
2:15 pm: MCX Silver:
Commodity market expert Jatin Trivedi said on Zee Business TV that target price for MCX Silver is 37,700 and recommended stop loss at 36,950.
2 pm: Sensex, Nifty flat during the afternoon trade, after gaining substantially in the morning trade.
1:30 pm: MCX crude (options)
Commodity market expert Jatin Trivedi said on Zee Business TV that a positive movement is seen in crude. One may take 3900 crude call option at 105. Target is 145 and keep a stop loss at 80.
1 pm: Kotak Mahindra Bank (BUY)
(Zee Business TV experts panel stock recommendations): Market analyst Chandan Taparia said this stock has a lot of potential. Current market price is Rs 1,498.45, up 2.50% on the NSE. This share may see Rs 1530-35 levels.
12:45 pm: ICICI Bank options call:
(Zee Business TV experts panel stock recommendations): Market analyst Chandan Taparia said the investors may take 425 call (June) at Rs 5. He has given a target of Rs 9 and stop loss at Rs 2.5.
12:30 pm: Raymond (Future SELL):
(Zee Business TV experts panel stock recommendations): Market expert Kiran Jadhav said the investors should SELL at any upward movement.
12:15 pm: TVS Motors (Future):
(Zee Business TV experts panel stock recommendations): Market expert Kiran Jadhav said TVS Motors share has been very weak and the investors should take short position.
12:05 pm: Indiabulls Housing Finance fell over 8%, YES Bank down over 4%, and UPL share sank over 3%.
11:55 am: Nifty 50 (long):
(Zee Business TV experts panel stock recommendations): Technical analyst Swati Hotkar said Nifty 50 may give good returns. The investors should keep stop loss at 11,720 and if it break 11,800 level then it may go further up. Therefore the investors should should hold their long positions it it.
11:45: PC Jeweller share:
(Zee Business TV experts panel stock recommendations): Technical analyst Swati Hotkar said the investors should exit the stock. Immediate momentum is not seen in this stock, she said.
11:35 am: Bajaj Holding share:
(Zee Business TV experts panel stock recommendations): Technical analyst Swati Hotkar said there is a strong support level at Rs 3,500. Keep stop loss at Rs 3,500 and the stock may go up to Rs 3,800.
11:30 am: Indiabulls Housing Finance (SELL):(Zee Business TV experts panel stock recommendations): Technical analyst Swati Hotkar said there are a lot of selling pressure in this stock. However, the share was in the green during the early morning trade. There is SELL call for the share from the experts.
11:15 am: YES Bank share
(Zee Business TV experts panel stock recommendations): There are a lot of selling pressure in this stock. There is yet no recommendation for buying YES Bank. This share may shed further.
10:40 am: ICICI Prudential share (BUY)
(Zee Business TV experts panel stock recommendations): Stock market expert Vikas Shetty recommended BUY for ICICI Prudential stock. He said insurance is a growing sector, therefore, there are a lot of potential in this sector. One may buy this stock with a 1-year horizon.
10:25 am: Indian Rupee today
Rupee strengthened 21 paise to 69.49 against USD in early trade on Wednesday.
10:201am: NMDC share (HOLD)
NMDC reported robust sales and production volumes for May 2019 driven by Chhattisgarh and Karnataka.
Key highlights: Rake movement in Chhattisgarh grew 26% YoY to 400; significant improvement in exports YoY; and 3.6x YoY jump in Karnataka sales volume to 0.8 mt despite production outage at Donimalai. Edelweiss said said the company is likely to report decent volume growth in Q1,FY20 despite two days’ production loss in Bailadila operations in June. However, production outage at Donimalai and uncertainty around commissioning of the steel plant are likely to remain overhangs on the stock. The brokerage maintains ‘HOLD’ with target price of Rs106 (exit multiple of 5.6x September 2020E EBITDA).
10:10 am: BANK NIFTY rose 260.30 points
10 am: Havels India (Future) share (BUY):
(Zee Business TV experts panel stock recommendations): Stock market expert Kunal Saraogi said that this share is can be bought with a stop loss of Rs 779. This stock is trading at lifetime high.
9:50 am: Wipro, IOC, Infratel, Dr. Reddy's, and HeroMoto Corp are the top losers in benchmark Nifty.
9:45 am: Tata Steel, Indiabulls Housing Finance, Kotak Bank, Tata Motors, and Vedanta were the top gainers in Nifty 50 today. Tata Steel and Indiabulls Housing Finance on Tuesday fell heavily.
Markets Live: After a heavy fall in the stock market yesterday, major Indian equity indices rose substantially today on ease in China-US trade war tension and Fereral Reserve's rate cut hopes. BSE's Sensex rose 322.45 to 39,368.79 and NSE's Nifty 50 was trading 0.79% higher at 11,784.3. As market moves due to various factors, retail investors have little information to find out the stocks that can give them good returns. Here the investors can get information regarding stocks and fundamental analysis of the share market.
6:30 pm: Deepak Jasani, Head Retail Research at HDFC securities said technically Nifty remained in a short-term downtrend and traders will need to watch if the index can now hold above the crucial immediate supports of 11,614-11,591; else a further correction is likely.
Markets ended on a flat note on Wednesday after a volatile session. The Nifty index ended 0.05 points lower at 11,691.45. Broad market indices like the BSE Mid Cap and Small Cap indices lost more, thereby underperforming the Sensex/Nifty. Market breadth was negative on the BSE/NSE. Indian markets today punished severely stocks with questionable corporate governance norms and/or high debt. This has resulted in retail investors staring at further fall in their portfolio value, he said.
Jain irrigation closed 28% lower after India Ratings cuts its long term issuer Rating to BBB with 'Watch Negative' outlook. The downgrade reflects deterioration in the liquidity profile on account of delay in realisation of receivables from its micro-irrigation systems (MIS) segment.
6 pm: HDFC buys Apollo Munich's 51.2% share for Rs 1,350 crore. HDFC share today closed 1.11% up at 2178.3.
5:50 pm: Reliance Capital, DBL, HEG, Reliance Power, Adani Ports, Reliance Infra, JM Financials, Manppuram, Naukri, Jindal Steel, Glenmark are among the small cap stocks that witnessed heavy selling pressure. These stocks fell between over 16% and 3% on the NSE. Small cap index to fell over 1%.
MidCap stocks too saw negative trends. MidCap indices fell both on BSE and NSE.
JM Financial Commodities report:
5:30 pm: Natural Gas (June): Natural Gas prices are likely to trade with negative bias. The immediate support is at ` 160, next support is at 157. The important resistance is at 171.50 level. Until prices close above ` 171.50, selling on rise is advisable.
5:25 pm: Crude oil (June): Crude oil prices are trading on negative note. The immediate support at ` 3,680, next support is at 3,630. The important resistance is at 3,850 levels. Until prices close above ` 3,850, selling on rise is advisable.
5:20 pm: Silver (July): Silver prices are likely to trade on positive note with immediate support at 37,000, next support is at 36,800. The important resistance is at 38,000
levels. Until prices close below 36,800, buying is advisable.
5:10 pm: Gold (August): Gold prices are likely to trade on positive note. The immediate support is at 32,980, next support is at ` 32,880. The important resistance is at ` 33,270
levels. Until prices are holding below 32,880, buying is advisable.
Factors that may affect stock market:
GST on electric vehicles: There may be GST cut on electric vehicles (EV) from 12% to 5%. Rate on EV chargers may also go down.
5 pm: Monsoon: After hitting Kerala nearly a week late, monsoon progressed slowly than usual. Monsoon rains have been 44% lower-than-average in June. This is delaying the sowing of summer crops.
4:30 pm: BSE SmallCap and MidCap indices fell.
4:10 pm: Gold, silver prices up. Oil prices volatile.
4 pm: Tata Steel, Kotak Mahindra Bank, NTPC, and Titan shares top gainers in Nifty 50.
3:50 pm: Nifty 50 trend:
Nagaraj Shetti, Technical Research Analyst, HDFC securities, said Nifty 50 was not able to sustain the upside bounce today, closed on a flat note. "After showing consolidation at the lows in the last session, the Nifty was not able to sustain the upside bounce today, closed on a flat note. We observe a bout of volatility near the resistance of 11,800 mark. Nifty failing to sustain above the key overhead resistance of 11,780-800 levels today could open up chances of further weakness in the market ahead," Shetti said.
He said that further decisive decline below the immediate support of 11,650 could result in Nifty filling the previous opening upside gap of May 20, around 11,425 levels in the near term.
3:33 pm: BSE Sensex ended at 39,112.74, up 0.17%, while Nifty 50 closed flat at 11,691.45 over the previous day's close.
3:28 pm: (Zee Business TV exclusive) There may be GST cut on electric vehicles (EV) from 12% to 5%. This is expected to be finalised at June 21 meeting.
3:25 pm: Automobiles, Metals and Real estate shares down.
3:15 pm: Indiabulls Housing Finance share was trading about 8% lower at 561.50.
3 pm: IndiGo share:
(Zee Business TV experts panel stock recommendations): This stock fell 3.65% to 1,602.45. An expert on Zee Business TV said that IndiGo is going to gain from the closure of Jet Airways and fundamentals of the stock is also quite good. If the share crosses the Rs 17,00 mark, then this will go much beyond that point, said an expert. She recommended stop loss at Rs 1,590.
2:50 pm: BSE Sensex slipped below 39,000 level. The 30-stock index is now trading 38,918.95, down 127.39 points oe 0.33%. The benchmark BSE index today witnessed high of 39,435.80.
2:30 pm: BSE IT Index (CMP: 15,940.15) outlook positive:
GajendraPrabu, Technical Research Analyst at HDFC Securities, analysis:
* The daily chart of “BSE IT index” shows that it has resumed the next rising leg post minor downward retracement. Price has been maintaining higher tops and higher bottoms which is a bullish continuation structure
* Price has found support and has turned up from the near term key moving average of 13 Day EMA.
* KST oscillator is continuing with positive momentum and placed with a buy signal. In the current rising leg from 15,015 levels, all dips are just minor retracements before next rises and this leg could head towards new life highs i.e. above 16300 levels
*Traders can maintain mildly positive stance in IT stocks; upside target is placed at 16,290 with a stop loss of 15,623 on closing basis.
* Stocks to watch: Infosys, TCS, HEXAWARE & FSL.
2:15 pm: MCX Silver:
Commodity market expert Jatin Trivedi said on Zee Business TV that target price for MCX Silver is 37,700 and recommended stop loss at 36,950.
2 pm: Sensex, Nifty flat during the afternoon trade, after gaining substantially in the morning trade.
1:30 pm: MCX crude (options)
Commodity market expert Jatin Trivedi said on Zee Business TV that a positive movement is seen in crude. One may take 3900 crude call option at 105. Target is 145 and keep a stop loss at 80.
1 pm: Kotak Mahindra Bank (BUY)
(Zee Business TV experts panel stock recommendations): Market analyst Chandan Taparia said this stock has a lot of potential. Current market price is Rs 1,498.45, up 2.50% on the NSE. This share may see Rs 1530-35 levels.
12:45 pm: ICICI Bank options call:
(Zee Business TV experts panel stock recommendations): Market analyst Chandan Taparia said the investors may take 425 call (June) at Rs 5. He has given a target of Rs 9 and stop loss at Rs 2.5.
12:30 pm: Raymond (Future SELL):
(Zee Business TV experts panel stock recommendations): Market expert Kiran Jadhav said the investors should SELL at any upward movement.
12:15 pm: TVS Motors (Future):
(Zee Business TV experts panel stock recommendations): Market expert Kiran Jadhav said TVS Motors share has been very weak and the investors should take short position.
12:05 pm: Indiabulls Housing Finance fell over 8%, YES Bank down over 4%, and UPL share sank over 3%.
11:55 am: Nifty 50 (long):
(Zee Business TV experts panel stock recommendations): Technical analyst Swati Hotkar said Nifty 50 may give good returns. The investors should keep stop loss at 11,720 and if it break 11,800 level then it may go further up. Therefore the investors should should hold their long positions it it.
11:45: PC Jeweller share:
(Zee Business TV experts panel stock recommendations): Technical analyst Swati Hotkar said the investors should exit the stock. Immediate momentum is not seen in this stock, she said.
11:35 am: Bajaj Holding share:
(Zee Business TV experts panel stock recommendations): Technical analyst Swati Hotkar said there is a strong support level at Rs 3,500. Keep stop loss at Rs 3,500 and the stock may go up to Rs 3,800.
11:30 am: Indiabulls Housing Finance (SELL):(Zee Business TV experts panel stock recommendations): Technical analyst Swati Hotkar said there are a lot of selling pressure in this stock. However, the share was in the green during the early morning trade. There is SELL call for the share from the experts.
11:15 am: YES Bank share
(Zee Business TV experts panel stock recommendations): There are a lot of selling pressure in this stock. There is yet no recommendation for buying YES Bank. This share may shed further.
10:40 am: ICICI Prudential share (BUY)
(Zee Business TV experts panel stock recommendations): Stock market expert Vikas Shetty recommended BUY for ICICI Prudential stock. He said insurance is a growing sector, therefore, there are a lot of potential in this sector. One may buy this stock with a 1-year horizon.
10:25 am: Indian Rupee today
Rupee strengthened 21 paise to 69.49 against USD in early trade on Wednesday.
10:201am: NMDC share (HOLD)
NMDC reported robust sales and production volumes for May 2019 driven by Chhattisgarh and Karnataka.
Key highlights: Rake movement in Chhattisgarh grew 26% YoY to 400; significant improvement in exports YoY; and 3.6x YoY jump in Karnataka sales volume to 0.8 mt despite production outage at Donimalai. Edelweiss said said the company is likely to report decent volume growth in Q1,FY20 despite two days’ production loss in Bailadila operations in June. However, production outage at Donimalai and uncertainty around commissioning of the steel plant are likely to remain overhangs on the stock. The brokerage maintains ‘HOLD’ with target price of Rs106 (exit multiple of 5.6x September 2020E EBITDA).
10:10 am: BANK NIFTY rose 260.30 points
10 am: Havels India (Future) share (BUY):
(Zee Business TV experts panel stock recommendations): Stock market expert Kunal Saraogi said that this share is can be bought with a stop loss of Rs 779. This stock is trading at lifetime high.
9:50 am: Wipro, IOC, Infratel, Dr. Reddy's, and HeroMoto Corp are the top losers in benchmark Nifty.
9:45 am: Tata Steel, Indiabulls Housing Finance, Kotak Bank, Tata Motors, and Vedanta were the top gainers in Nifty 50 today. Tata Steel and Indiabulls Housing Finance on Tuesday fell heavily.