STOCK MARKET LIVE: Crude oil prices up; should you buy gold, silver? Check experts' view on SBI, Axis Bank, Just Dial, IndusInd Bank, Havells India shares
NSE's Nifty index closed at 11,699.65, down 0.21%, while BSE's Sensex ended the day at 39,122.96, down 0.18%. Indian equity indices today started on a cautious note on Monday amid weak cues from other Asian markets and rising crude prices. BSE's 30-scrip index was trading at 39,127.03, lower 67.46 or 0.17%, while Nifty 50 was trading at 11,705.65, down 18.45 points or 0.16%. The Nifty lost 99 points over the week to close at 11,724. It started on a weak note considering global cues last week. However, it bounced back strongly from our mentioned support zone of 11,590 to 11,620 levels and stayed above the same throughout the entire last week. The second half of the prior week was pretty volatile and fresh selling emerged towards the latter part of the week where the bears took complete control of the markets. Finally, Nifty closed around 11,700 mark. It was clearly a week in favour of the bears.
Here are experts advice by stock market experts on various shares and fundamentals of the overall market:
6:30 pm: Should you buy Gold at this level?
(Zee Business commodities' expert panel recommendations): An expert said that the investors should buy on dip. At the current price (34,303) level. Gold may further go up, the expert said.
5:50 pm: Oil marketing companies - ONGC, IGL, RIL, and HPCL - shares today closed lower on rise of crude prices.
5:35 pm: Automobile shares:
Automobile shares fell heavily today on the proposal over electric vehicles transition.
5:10 pm: Crude oil (July) prices outlook:
Brokerage JM Financial said crude oil (July) prices are trading on a negative note. The immediate support at 3,980, next support is at 3,940. The important resistance is at 4,090 levels. Until prices close above 4,090, selling on rise is advisable.
5 pm: Silver (July) prices outlook (JM Financial):
Brokerage JM Financial said silver (July) prices are likely to trade on a positive note with immediate support at 37,700, next support is at 37,400. The important resistance is at 38,760 levels. Until prices close below 37,400, buying is advisable.
4:50 pm: Gold (August) prices outlook (JM Financial):
Brokerage JM Financial said gold prices (August) are likely to trade on positive note. The immediate support at 34,200, next support is at 34,070. The important resistance is at 34,550 levels. Until prices are holding below 34,070, buying is advisable.
4:30 pm: Indiabulls Housing Finance share:
The company's share rose for the third consecutive session. Today, the stock closed at 619.15, a rise of 1.16% from the previous day's close.
4:05 pm: Silver price today:
Silver price for July 5 delivery was trading at 38080.00, up 0.33%, on MCX.
4 pm: Crude oil prices:
Crude oil futures for July delivery on MCX today rose on global cues. It was trading at 4,034, a rise of 0.42%.
3:50 pm: Gold prices today:
Gold is trading higher on MCX today. The Gold (August 5) is at 34,325, 0.46% higher
3:40 pm: Monsoon
After slow start, monsoon picked up the pace. Monsoon covered 10 states in 4 days.
3:35 pm: Solara Active Pharma Sciences
The share closed 2.34% higher at 453.10. Amey Chalke, Analyst, HDFC Securities said in light of environmental issues in China, the API market place is likely to present an enormous opportunity for established Indian API manufacturers. The global API market is close to US$ 160bn with China having a 30%+ market share, while India is at 8-10%. Solara is one of the leading API manufacturers in India having the capability to benefit from this opportunity due to a large API portfolio of 50+ molecules.
"After de-merging from its parent entities, Strides and Sequent, the company has outperformed its FY19 guidance of 20% top line and EBITDA growth by a big margin. FY19 performance has been stellar with 35/59% revenue/EBITDA growth (proforma). We expect Solara to maintain ~16/21% revenue/EBITDA CAGR over FY19- 21E. Recently, Solara announced a capital infusion of Rs 4.6bn to build engines for growth beyond FY21E. In our view, it is an ideal stock to invest in a pure-play API story emerging in India. At CMP, the stock is trading at 16.9/10.6x FY20/21E EPS, a ~30% discount to the sector-avg. We assign a fair value of Rs 630 (15x FY21E EPS)," Chalke said.
3:30 pm: NSE's Nifty index closed at 11,699.65, down 0.21%, while BSE's Sensex ended the day at 39,122.96, down 0.18%.
3 pm: YES Bank, M&M, TCS, SBI, IndusInd Bank, Maruti Suzuki, NTPC, ITC, HDFC, and Bharti Airtel, among the shares, were in the green in Sensex basket.
2:30 pm: JSW Steel, Eicher Motor, ONGC, Tata Steel shares fell.
2:10 pm: Glenmark Pharmaceuticals share:
Glenmark Pharmaceuticals fell over 7% on the BSE today after the US health regulator USFDA cited deficiencies in the Drug Master File pertaining to one of the active pharmaceutical ingredients (API) and manufacturing facilities.
Marico share:
There are block deals in this share. Marico share was trading at Rs 372.35, up 0.94%. Markets expert Kunal Saraogi said on Zee Business TV that this share may witness a further surge.
1:50 pm: IndiaMart IPO
IndiaMart IPO subscribed 12% till 1:45 pm.
1:40 pm: DHFL share:
DHFL share today rose substantially and trading at 79, over 8% up after the update came that the company's lenders may meet in early July to work out a rescue package. The company's shares fell heavily after it failed to pay interest on bonds.
1:30 pm: PSU banks - J&K Bank, SBI, Canara Bank, and Indian Bank - rose today.
1:20 pm BEML share:
The stock is trading at 817.7, down 1.55%. HDFC Securies today gave a target of Rs 938-1,060. The time horizon is 4 quarters. The brokerage recommended to add the share on decline. The company is a leading player in earthmoving and railway sector. Metro rail segment to be key growth driver and defence sector to see robust growth momentum, the brokerage said.
Earthmoving (Mining) to see steady revenues and strong order book position of Rs 9100cr. Estimate 20% revenue and 85% EPS CAGR over FY19-21E, it said.
1:10 pm: V-Mart Retail share:
(Zee Business experts panel stock recommendations): The stock is trading at 2,275.05, 0.18% up. Market expert Ashish Kelkar said the investors should HOLD this stock with a Rs 1,930. The stock has been range-bound for quite sometime.
RITES share (HOLD):
Market expert Avinash Gorakshakar said the investors should HOLD the share, as the company is going to declare bonus.
Adani Gas share:
(Zee Business experts panel stock recommendations): The share is trading at Rs 159.2, down 0.19%. Market expert Ashish Kelkar said the investors may HOLD this share with a stop loss of Rs 140 if the investment horizon is for 2-3 months.
1 pm: Future Consumers share:
(Zee Business experts panel stock recommendations): The share is trading at Rs 38.9, down 1.14%. The share can be bought with a long-term (2-3 years) view. But, in the short-term, the share may consolidate at Rs 35-36 level.
12:50 pm: Venkys:
(Zee Business experts panel stock recommendations): An expert said the company may face margin pressure in this quarter. The investors should wait till its financial results come before buying in it.
12:40 pm: Jet Airways:
The share of the airline rose 3.59% to 75.05. Jet Airways owes Rs 8,500 crore to banks and Rs 25,000 crore in arrears to vendors, lessors and employees.
12:30 pm: SBI share:
The bank's share rose 1.13% to 353.40 today after private equity funds PremjiInvest, Carlyle, ChrysCapital and GIC of Singapore, among others, expressed interest for picking up a 26% stake in SBI General Insurance and the positive views from analysts.
12:25 pm: Nifty50 (long) HOLD
(Zee Business experts panel stock recommendations): Market expert Ashish Kelkar said Nifty important level is 11,660. Nifty is expected to be range bound. If it goes below that level then there may be more selloff. The investors who have taken long positions should hold it with a stop loss of Rs 11,660. He advised not to take fresh long positions.
12:10 pm: Crude oil prices
Crude oil prices up on expectation over OPEC deal extension
12:05 pm: Automobile shares fall
11: 50 am: UPL, YES Bank, SBI, and Adani Ports shares today bounced back.
11:30 am: Bandhan Bank (CMP: 538.60, up 1.50%)
National Company Law Tribunal (NCLD approved the merger of Gruh Finance with Bandhan Bank.
11:20 am: UPL (CMP: 919.95, up 3.31%)
(News) It fixed July 3 as the record date for issue of bonus shares.
11:15 am: Infosys (Rs 748.3, down 0.32%)
(News) It has completed 62 percent of current buyback. It said Panaya and Skava not assets for sale and will look to repurpose activities within those businesses.
11:10 am: Dr Reddy's Labs (CMP: Rs 2520, down 1.17%):
(News) It launched Phytonadione injectable emulsion in the US market.
11 am: IndiaMart launched its initial public offer (IPO) today (Monday) with a price band of Rs 970-973 to raise over Rs 474 crore.
10:47 am: Ambuja Cement share (BUY):
(Zee Business experts panel stock recommendations): A market expert said that this share is going to touch the Rs 230 level very soon. The investors should keep stop loss at Rs 200 and in the medium term we may see Rs 240 levels and in the longer term it may go beyond Rs 270 level. The current market price is Rs 216.10 on the BSE, up 1.57%.
10:40 am: Just Dial share:
Market expert Simi Bhaumik said on Zee Business TV that she is very bullish on this share and it will give good return in the coming week. The share is now trading at Rs 7.58, up 4.99%.
10:37 am: IndusInd Bank (BUY)
(Zee Business experts panel stock recommendations): There is a BUY call for this share from an analyst, as promoters are increasing their stake in the bank.
10:29 am: Havells India Future (BUY)
(Zee Business experts panel stock recommendations) Market analyst Ashish Kelkar gave a BUY call for this share. The share is now trading at 784.40.
10:20 am: Raymonds (Future)
(Zee Business experts panel stock recommendations) Market expert Simi Bhaumik said one should long this share. The share is now trading at Rs 746.35, down 0.49%. If this share goes beyond Rs 770 then it may rally further, she said.
10 am: BSE's 30-scrip index was trading at 39,127.03, lower 67.46 or 0.17%, while Nifty 50 was trading at 11,705.65, down 18.45 points or 0.16%.
NSE's Nifty index closed at 11,699.65, down 0.21%, while BSE's Sensex ended the day at 39,122.96, down 0.18%. Indian equity indices today started on a cautious note on Monday amid weak cues from other Asian markets and rising crude prices. BSE's 30-scrip index was trading at 39,127.03, lower 67.46 or 0.17%, while Nifty 50 was trading at 11,705.65, down 18.45 points or 0.16%. The Nifty lost 99 points over the week to close at 11,724. It started on a weak note considering global cues last week. However, it bounced back strongly from our mentioned support zone of 11,590 to 11,620 levels and stayed above the same throughout the entire last week. The second half of the prior week was pretty volatile and fresh selling emerged towards the latter part of the week where the bears took complete control of the markets. Finally, Nifty closed around 11,700 mark. It was clearly a week in favour of the bears.
Here are experts advice by stock market experts on various shares and fundamentals of the overall market:
6:30 pm: Should you buy Gold at this level?
(Zee Business commodities' expert panel recommendations): An expert said that the investors should buy on dip. At the current price (34,303) level. Gold may further go up, the expert said.
5:50 pm: Oil marketing companies - ONGC, IGL, RIL, and HPCL - shares today closed lower on rise of crude prices.
5:35 pm: Automobile shares:
Automobile shares fell heavily today on the proposal over electric vehicles transition.
5:10 pm: Crude oil (July) prices outlook:
Brokerage JM Financial said crude oil (July) prices are trading on a negative note. The immediate support at 3,980, next support is at 3,940. The important resistance is at 4,090 levels. Until prices close above 4,090, selling on rise is advisable.
5 pm: Silver (July) prices outlook (JM Financial):
Brokerage JM Financial said silver (July) prices are likely to trade on a positive note with immediate support at 37,700, next support is at 37,400. The important resistance is at 38,760 levels. Until prices close below 37,400, buying is advisable.
4:50 pm: Gold (August) prices outlook (JM Financial):
Brokerage JM Financial said gold prices (August) are likely to trade on positive note. The immediate support at 34,200, next support is at 34,070. The important resistance is at 34,550 levels. Until prices are holding below 34,070, buying is advisable.
4:30 pm: Indiabulls Housing Finance share:
The company's share rose for the third consecutive session. Today, the stock closed at 619.15, a rise of 1.16% from the previous day's close.
4:05 pm: Silver price today:
Silver price for July 5 delivery was trading at 38080.00, up 0.33%, on MCX.
4 pm: Crude oil prices:
Crude oil futures for July delivery on MCX today rose on global cues. It was trading at 4,034, a rise of 0.42%.
3:50 pm: Gold prices today:
Gold is trading higher on MCX today. The Gold (August 5) is at 34,325, 0.46% higher
3:40 pm: Monsoon
After slow start, monsoon picked up the pace. Monsoon covered 10 states in 4 days.
3:35 pm: Solara Active Pharma Sciences
The share closed 2.34% higher at 453.10. Amey Chalke, Analyst, HDFC Securities said in light of environmental issues in China, the API market place is likely to present an enormous opportunity for established Indian API manufacturers. The global API market is close to US$ 160bn with China having a 30%+ market share, while India is at 8-10%. Solara is one of the leading API manufacturers in India having the capability to benefit from this opportunity due to a large API portfolio of 50+ molecules.
"After de-merging from its parent entities, Strides and Sequent, the company has outperformed its FY19 guidance of 20% top line and EBITDA growth by a big margin. FY19 performance has been stellar with 35/59% revenue/EBITDA growth (proforma). We expect Solara to maintain ~16/21% revenue/EBITDA CAGR over FY19- 21E. Recently, Solara announced a capital infusion of Rs 4.6bn to build engines for growth beyond FY21E. In our view, it is an ideal stock to invest in a pure-play API story emerging in India. At CMP, the stock is trading at 16.9/10.6x FY20/21E EPS, a ~30% discount to the sector-avg. We assign a fair value of Rs 630 (15x FY21E EPS)," Chalke said.
3:30 pm: NSE's Nifty index closed at 11,699.65, down 0.21%, while BSE's Sensex ended the day at 39,122.96, down 0.18%.
3 pm: YES Bank, M&M, TCS, SBI, IndusInd Bank, Maruti Suzuki, NTPC, ITC, HDFC, and Bharti Airtel, among the shares, were in the green in Sensex basket.
2:30 pm: JSW Steel, Eicher Motor, ONGC, Tata Steel shares fell.
2:10 pm: Glenmark Pharmaceuticals share:
Glenmark Pharmaceuticals fell over 7% on the BSE today after the US health regulator USFDA cited deficiencies in the Drug Master File pertaining to one of the active pharmaceutical ingredients (API) and manufacturing facilities.
Marico share:
There are block deals in this share. Marico share was trading at Rs 372.35, up 0.94%. Markets expert Kunal Saraogi said on Zee Business TV that this share may witness a further surge.
1:50 pm: IndiaMart IPO
IndiaMart IPO subscribed 12% till 1:45 pm.
1:40 pm: DHFL share:
DHFL share today rose substantially and trading at 79, over 8% up after the update came that the company's lenders may meet in early July to work out a rescue package. The company's shares fell heavily after it failed to pay interest on bonds.
1:30 pm: PSU banks - J&K Bank, SBI, Canara Bank, and Indian Bank - rose today.
1:20 pm BEML share:
The stock is trading at 817.7, down 1.55%. HDFC Securies today gave a target of Rs 938-1,060. The time horizon is 4 quarters. The brokerage recommended to add the share on decline. The company is a leading player in earthmoving and railway sector. Metro rail segment to be key growth driver and defence sector to see robust growth momentum, the brokerage said.
Earthmoving (Mining) to see steady revenues and strong order book position of Rs 9100cr. Estimate 20% revenue and 85% EPS CAGR over FY19-21E, it said.
(Zee Business experts panel stock recommendations): The stock is trading at 2,275.05, 0.18% up. Market expert Ashish Kelkar said the investors should HOLD this stock with a Rs 1,930. The stock has been range-bound for quite sometime.
Market expert Avinash Gorakshakar said the investors should HOLD the share, as the company is going to declare bonus.
(Zee Business experts panel stock recommendations): The share is trading at Rs 159.2, down 0.19%. Market expert Ashish Kelkar said the investors may HOLD this share with a stop loss of Rs 140 if the investment horizon is for 2-3 months.
(Zee Business experts panel stock recommendations): The share is trading at Rs 38.9, down 1.14%. The share can be bought with a long-term (2-3 years) view. But, in the short-term, the share may consolidate at Rs 35-36 level.
(Zee Business experts panel stock recommendations): An expert said the company may face margin pressure in this quarter. The investors should wait till its financial results come before buying in it.
The share of the airline rose 3.59% to 75.05. Jet Airways owes Rs 8,500 crore to banks and Rs 25,000 crore in arrears to vendors, lessors and employees.
The bank's share rose 1.13% to 353.40 today after private equity funds PremjiInvest, Carlyle, ChrysCapital and GIC of Singapore, among others, expressed interest for picking up a 26% stake in SBI General Insurance and the positive views from analysts.
National Company Law Tribunal (NCLD approved the merger of Gruh Finance with Bandhan Bank.
11:15 am: Infosys (Rs 748.3, down 0.32%)
(News) It has completed 62 percent of current buyback. It said Panaya and Skava not assets for sale and will look to repurpose activities within those businesses.
11:10 am: Dr Reddy's Labs (CMP: Rs 2520, down 1.17%):
(News) It launched Phytonadione injectable emulsion in the US market.
11 am: IndiaMart launched its initial public offer (IPO) today (Monday) with a price band of Rs 970-973 to raise over Rs 474 crore.
10:47 am: Ambuja Cement share (BUY):
(Zee Business experts panel stock recommendations): A market expert said that this share is going to touch the Rs 230 level very soon. The investors should keep stop loss at Rs 200 and in the medium term we may see Rs 240 levels and in the longer term it may go beyond Rs 270 level. The current market price is Rs 216.10 on the BSE, up 1.57%.
10:40 am: Just Dial share:
Market expert Simi Bhaumik said on Zee Business TV that she is very bullish on this share and it will give good return in the coming week. The share is now trading at Rs 7.58, up 4.99%.
10:37 am: IndusInd Bank (BUY)
(Zee Business experts panel stock recommendations): There is a BUY call for this share from an analyst, as promoters are increasing their stake in the bank.
10:29 am: Havells India Future (BUY)
(Zee Business experts panel stock recommendations) Market analyst Ashish Kelkar gave a BUY call for this share. The share is now trading at 784.40.
10:20 am: Raymonds (Future)
(Zee Business experts panel stock recommendations) Market expert Simi Bhaumik said one should long this share. The share is now trading at Rs 746.35, down 0.49%. If this share goes beyond Rs 770 then it may rally further, she said.
10 am: BSE's 30-scrip index was trading at 39,127.03, lower 67.46 or 0.17%, while Nifty 50 was trading at 11,705.65, down 18.45 points or 0.16%.
