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Buying Apollo Tyres with the target at Rs 185 and stop loss at Rs 172 and Bharat Electronics with target at Rs 115 and stop loss at Rs 104. After a subdued start, the market slipped in the red and traded with negative bias in the first half. However, it managed to pull back from the lows and ended the session higher. Sensex closed 162 points, or 0.44 percent, higher at 36,724.74, with 18 stocks in the green. The Nifty index logged a gain of 47 points or 0.43 percent to settle at 10,844.65, with 30 stocks ending in the positive. Midcaps and small caps underperformed Sensex as their sectoral indices on BSE climbed up to 0.29 percent. The index is still trading below crucial short term moving averages and despite the bounce, the trend is still negative, suggest experts. Traders are advised to trade with strict stop losses as long as the index trades above 10,756-10637 levels. According to the pivot charts, the key support level is placed at 10,774.4, follow...

Buying Tata Consultancy Services with stop loss at Rs 2220 and target of Rs 2310 and Maruti Suzuki with stop loss at Rs 5900 and target of Rs 6350. A strong wave of selloff enveloped the Indian equity market on September 3, dragging key indices Sensex and Nifty down by over 2 percent. Investor sentiment received a blow after official data on August 30 showed India's gross domestic product (GDP) slowing to 5 percent in April-June 2019. The GDP growth was at 8 percent in the same quarter of 2018-19. Other than worrisome macroeconomic indicators, the rupee's fall against the dollar, weak global sentiment and sustained capital outflow of foreign funds continued weighing on market sentiment. Nifty50 finished 225 points, or 2.04 percent down at 10,797.90, with 48 stocks in the red. Nifty broke multiple support levels on intraday charts and closed below 10,800. The index is trading below its crucial short-term moving averages such as 20-day moving average (DMA), ...

We expect the index to undergo base formation in the broad range of 10,800-11,200 amid stock specific action in the upcoming truncated week, said Dharmesh Shah of ICICI direct. The government walked the talk in August. But, weak global cues, muted earnings from India Inc., corporate governance issues and currency volatility weighed on the sentiment. The Indian market recorded its third consecutive monthly fall, but on a weekly basis. Both Sensex and Nifty closed with gains of around 2 percent. The Nifty50 fell 5.6 percent in July, and 1.12 percent in June 2019. On a monthly basis, the S&P BSE Sensex fell 0.4 percent while the Nifty50 was down by 0.85 percent. However, on a weekly basis, Nifty50 gained 1.79 percent, and the S&P BSE Sensex rose 1.72 percent in August. But, there were more than 50 stocks in BSE500 index which bucked the trend as they rose 10-60 percent in the last month include names like Nestle India, Pidilite Industries, Ceat, Berger Pain...

Shares of InterGlobe Aviation Ltd are not very far from their lifetime highs of 1,716 seen on 28 May.  Besides the airline’s stock, at 1,656.25 currently, is nearly 6% above the levels seen before the troubles between its two promoters intensified in July. InterGlobe runs IndiGo, India’s largest airline by market share. Clearly, investor worries about the turbulence at the top appear to have subsided, at least for now. In fact, Tuesday’s annual general meeting concluded on a good note. “The consensus between promoters on ‘related party transaction’ policy and board composition is sentiment-positive," wrote Ansuman Deb of ICICI Securities Ltd in a report on Thursday. Shareholders have approved the alteration of the company’s Articles of Association to increase the board size to 10 from six earlier. IndiGo’s operational performance has remained unaffected by the promoter squabbles so far. This is evident from the impressive June quarter numbers. One brigh...

We expect the index to continue with its outperformance so we advise investors to accumulate quality midcap stocks in a staggered manner. Equity benchmark witnessed strong up move since August 23 as buying demand emerges near the major support area of 10,600, but it failed to hold on to gains. We believe that the temporary breather towards 11,000-10,900 (i.e. 50 percent retracement of the last three sessions up move from 10,637 to 11,141) should be used as an incremental buying opportunity for an up move towards 11,200 levels in coming weeks. In the current context, the index witnessed a sharp bounce after correcting 12 percent over the past 12 weeks. In the process, most of the pessimism has been overdone in the index. Going forward, we expect the index to continue with its outperformance, so we advise investors to accumulate quality midcap stocks in a staggered manner. Here is a list of top two stocks which could give 11-16 percent return in the next six...

Gold prices eked out gains on Thursday against the backdrop of recession fears, with traders tracking signs of progress on the U.S.-China trade talks and global central banks for direction on interest rates. Spot gold rose 0.2% to $1,542.06 per ounce, as of 0331 GMT. On Wednesday, the bullion ended lower but remained around its over six-year peak of $1,554.56 hit on Monday. U.S. gold futures were up 0.1% at $1,550.80 an ounce. Bull markets (for gold) are on hold as we wait for further news on the trade dispute, which seems to be the major driver, said Michael McCarthy, chief market strategist at CMC Markets. "Global growth in the balance here and a resolution (in the trade conflict) would be good for growth and bad for gold," McCarthy added. On the trade front, the Trump administration on Wednesday made official its extra 5% tariff on $300 billion in Chinese imports, and set collection dates of Sept. 1 and Dec. 15. While Trump in recent day...

Early-stage consumer-focused investor DSG Consumer Partners has closed its third venture capital fund at $65 million, said two people aware of the matter, requesting anonymity. Mint reported on March 31st that it had marked the first close of the fund, then planned at $50 million, at $30 million. DSG had raised its first venture capital fund of $24 million in 2012 and followed it up with a $50 million fund in 2017. It is known for making early bets on hotel chain start-up Oyo Rooms, point-of-sale (POS) services provider MSwipe and Raw Pressery cold-pressed juices. The third fund will invest in seed and Series A rounds of $500,000 to $2 million and will invest a maximum of 15% of the fund in any one company In addition to the third fund, DSG is also raising its second add on fund- a fund dedicated to backing the best companies from its own portfolio, as they raise Series B rounds and beyond. Along with the third fund’s close, it has also marked the first close of i...

The Dow Jones Industrial Average fell 124.66 points, or 0.48%, to 25,774.17, the S&P 500 lost 9.53 points, or 0.33%, to 2,868.85, and the Nasdaq Composite dropped 26.79 points, or 0.34%, to 7,826.95. Wall Street slipped on Tuesday, weighed down by financial stocks as a deepening of the Treasury yield curve inversion raised US recession worries and uncertainty over any progress in trade negotiations between the United States and China took a toll. US stocks initially advanced, building on Monday’s bounce, as President Donald Trump forecast another round of talks with Beijing. China’s foreign ministry, however, reiterated on Tuesday that it had not received any recent US telephone call on trade. A deepening of the inversion in the yield curve between the 2-year and 10-year US Treasuries underscored worries about a weakening global economy. “It is going to be pretty confusing and unfortunately, without some kind of a major backpedaling on trade, to maybe slow...

Global brokerage HSBC upgraded stock to buy. Shares of Bharat Heavy Electricals (BHEL) rallied 10 percent intraday on August 27 after it won orders worth Rs 2,500 crore. "Valued at around Rs 2,500 crore, the orders have been placed on BHEL by NTPC," the company said, adding the orders involve supply and installation of flue gas desulphurization (FGD) systems for 13 coal-based units at 2,600 MW Korba STPS Stage I, II & Ill in Chhattisgarh and 2,100 MW Ramagundam STPS Stage I & II in Telangana. The stock was quoting at Rs 54.65, up to Rs 4.70, or 9.41 percent on the BSE at 1005 hours IST. Global brokerage HSBC upgraded stock to buy. It sees near-term weakness in business fundamentals of state-owned power equipment maker BHEL, but it upgraded the stock to buy due to steep correction, and balance sheet strength and long-term growth potential. However, the global brokerage house slashed price target to Rs 60 from Rs 62 per share after lowe...

Sudarshan Sukhani of s2analytics.com recommends buying Tata Consultancy Services with stop loss at Rs 2245 and target of Rs 2350 and Balkrishna Industries with stop loss at Rs 735 and target of Rs 770. The market rallied sharply and posted biggest single day gain in last three months on August 26, driven by rally across sectors except metals. The measures to boost economy and possible trade talks between US-China lifted sentiment. The BSE Sensex surged 792.96 points or 2.16 percent to 37,494.12 while the Nifty50 rose 228.50 points or 2.11 percent to close above psychological 11,000 levels, at 11,057.90 and formed bearish candle on daily charts. The market breadth remained in favour of bulls as more than two shares advanced for every share declining on the NSE. The Nifty Midcap index was up 1.6 percent and Smallcap index gained 2.3 percent. According to the pivot charts, key support level is placed at 10,852.77, followed by 10,647.73. If the index starts mo...

Kajaria Ceramics | Reliance Nippon Life AMC | Vadilal Industries | Satin Creditcare Network and Kingfa Science are stocks which are in the news today. Here are stocks that are in the news today: Sun Pharma: Taro gets US FDA approval for Azelaic Acid Gel Infosys: Board approves closure of buyback effective August 26. Buys Back 11.05 crore equity shares at an average price of Rs 747.38 per share. Pidilite Industries: Company entered into a JV with Bengaluru based company Chetana Expotential Technologies. Kajaria Ceramics: Board members approved the scheme of amalgamation for merger of subsidiary Kajaria Tiles Private Limited (formerly known as Kajaria Floera Ceramics Private Limited) with the company. Bank of Baroda: Lender approved raising up to Rs 2,150 crore in Tier-I, II bonds. Reliance Nippon Life: Nippon Life bought 10.6 percent stake in company via open offer. Nippon Life Now holds 53.46 percent stake in company. HDIL: Company received o...

Nifty could move to the immediate resistance level of 11,200 levels, and any close above 11,200 levels would result in further short covering which might push Nifty to levels around 11,400-11,500. Nifty50 surged 229 points on August 26 to post its highest absolute gains since May 20. It closed at 11,058 levels. The move was largely on the back of a series of measures announced by the finance minister on August 23 to build the confidence of the capital markets and the auto industry. By closing at 11,058 levels on August 26, the Nifty50 conquered its 20-days EMA hurdle for the first time after the budget day. The Nifty50 was facing resistance around its 20 days exponential moving average and reversed south the moment it touched since the breakdown seen on the budget day. Moreover, on August 23, the Nifty has formed bullish “Piercing line” candlestick pattern on the daily charts. This pattern usually indicates a trend reversal. The Relative Strength Index (RSI)...

At 19X FY20e earnings, markets are not cheap. With earnings likely to remain elusive, the short-lived rally over FM’s announcement is likely to give way to a long-period of consolidation with a hawk eye on cues for decisive revival. Highlights The good news – government has acknowledged the slowdown More measures could be expected Removal of FPI surcharge, GST refund are welcome moves Assumption of credit revival and rate transmission too simplistic Auto sector looking at a long road to recovery – nothing changes with the announcements Deepening of debt market and infrastructure pipeline deserves immediate attention Earnings drought continues, valuations not cheap, the wait for a recovery may be long The Finance Minster finally made her long-awaited announcements on measures to boost the economy. The acknowledgement of the problem at the highest level of the government is reassuring news for the markets, as we can now legitimately expect more...