STOCK MARKET LIVE: Should you BUY gold, crude oil, silver? Here are experts' advice on India Cements, Indian Bank, BEML, DCB Bank, Godrej Industries shares
The markets today (Wednesday) closed higher after testing various resistance levels. Indian equity indices today trading slightly higher after opening flat. BSE Sensex was trading at 39,577.33, up 0.36%, while NSE's Nifty was at 11,828.80, up 0.27% in the morning. In the Nifty index, 33 shares advanced and 17 declined at 9:40 am. In the Sensex basket, 24 stocks were trading in greens, while 6 were in the red. Asian stocks retreated on Wednesday and the dollar inched up after Federal Reserve officials pushed back on market expectations of monetary easing. Sectoral indices were also trading in the green. Post a consolidative phase seen in the last couple of sessions, the bulls were back in charge with the Nifty notching strong intraday gains by the days close on Tuesday. Oil prices rose over 1% on Wednesday as data showed that US crude stockpiles fell more than expected, and worries over potential US-Iran conflict. Brent crude futures were up 1.4% at $65.97 by 0006 GMT.
6:30 pm: SBI Life OFS:
SBI Life Insurance Company's offer for sale (OFS) was subscribed 52% till 1.30 pm on the second day, Wednesday, according to data available publicly.
6 pm: How Budget 2019 may affect IT industry and the sectoral stocks?
In recent months information technology (IT) companies' shares were not doing well. Amid H-1B Visa row, Indian IT industry biggies are keeping their fingers crossed on a favourable outcome. There are speculations that the Union Budget 2019 is going to take some measures that may help the IT industry to transform India into an IT superpower.
"In the last 20 years, Indian IT industry reached its glory by addressing outsourcing demands for conventional IT roles like testing, software services or support, server monitoring etc, where India was a preferred low-cost destination," said Vibhav Gaur, CBO at EbizON.
He said,"World’s leading tech companies and start-ups are already focusing on innovative technologies and its time for India to stop basking in the past glory and catch-up."
5:15 pm: Crude oil prices:
Crude oil (July) prices are trading on a negative note. The immediate support is at 4,050, the next support is at 4,000. The important resistance is at ` 4,200 levels. Until prices close above ` 4,200, selling on rise is advisable.
5:10 pm: Silver prices
Silver (July) prices are likely to trade on a positive note with immediate support at 37,600, next support is at 37,350, said brokerage JM Financial. The important resistance is at 38,600 levels. Until prices close below ` 37,350, buying is
advisable, it said.
5 pm: Gold prices:
MCX Gold (August) prices are likely to trade on a positive note. The immediate support is at 34,170, the next support is at 34,050. The important resistance is at 34,550 levels. Until prices are holding below 34,050, buying is advisable, said brokerage JM Financial.
3:40 pm: PC Jewellers:
The share has lost over 75% in the last 6 months. The stock is currently trading at 46.85 -0.6, a fall of 1.26%.
3:33 pm: Nifty and Sensex closed above the psychological levels of 11,800 and 39,500. Nifty closed at 11,847.55 51.10 , up 0.43%, while Sensex ended the day 157.14 points up at 39,592.08.
3:15 pm: SBI Life:
(Zee Business TV experts panel stock recommendations) Markets expert Kunal Saraogi said one should buy this stock on dip. Those who have bought it should hold the share.
The share is currently trading at Rs 720, a rise of 6.68% from the previous day's close.
3 pm: India Cements
(Zee Business TV experts panel stock recommendations) Market expert Sandeep Wagle said that this share may see 4-5% upside. The share is traing 3.93% higher at 109.65.
2:50 pm: Sun Pharma:
(Zee Business TV experts panel stock recommendations) Markets expert Kunal Saraogi said there is a major chance for a pullback in this share. This stock may see momentum in the coming days. The investors should keep stop loss at Rs 399. Sun Pharma is currently trading at RS 402.4, a rise of 4.40%.
2:40 pm: Sensex rose 216.41 points to trade at 39,651.35, Nifty 50 too trading higher at 11,862.35.
2:30 pm: Bank Nifty
Bank Nifty crossed the psychological level of 31,000 and now trading at 31,086, a rise of 0.78% from the previous day's close.
1:50 pm: Godfrey Phillips (BUY)
(Zee Business TV experts panel stock recommendations) Market expert Sandeep Jain recommended BUY in this stock. He suggested a target of Rs 1050. This share has not permed very well during the year, but the valuation of the share is cheap, he said. The share is trading at 886.40 +13.75, a rise of 1.58%.
1:40 pm: Indian Bank (BUY):
(Zee Business TV experts panel stock recommendations) Market expert Sumeet Bagadia recommended a BUY in this share. He suggested an immediate target of Rs 275 and stop loss at Rs 258. If the share breaks the Rs 275 level, it may see Rs 300 level.
The share is currently trading at 270, up 2.72%.
1:30 pm: BEML share:
(Zee Business TV experts panel stock recommendations) Market expert Sumeet Bagadia recommended BUY in this stock. He suggested a target of Rs 925 and stop loss at 835. If the share breaks the Rs 925 level then it may go up to Rs 970.
The share is trading 4.75% higher at 896.90 on the BSE.
1:15 pm: Godrej Industries:
(Zee Business TV experts panel stock recommendations) Market expert Nitin Murarka recommended BUY in this stock. He recommended the target at Rs 520 and the stop loss at Rs 470. The share is trading at 478.7, down 1.37%, on the BSE.
1 pm: DCB Bank
(Zee Business TV experts panel stock recommendations) Market expert Nitin Murarka said this stock is fundamentally strong. He recommended BUY in this share. Murarka recommended a target at Rs 265 and stop loss at Rs 230. The share is currently trading at 240, down 0.10%.
12:20 pm: L&T Technology OFS: The company's offer for sale (OFS) subscribed by 1.6 times in the retail category. The institutional investors' portion was subscribed by 5 times.
12:15 pm: IndiaMart IPO: The B2B ecommerce company's IPO was subscribed by 1.63 times till now. The price band for the issue was kept at Rs 970-973.
12:05 pm: Mahindra Lifespace
(Zee Business TV experts panel stock recommendations) The share has lost about 30% in the last one year. A market expert said unless there is any major development, the investors should avoid buying this share. In the upside, there is a resistance level of Rs 400-410. In the downside, the share may fall to 380 level. The share is trading at 392.85, down 1.73%.
11:50 am: HDFC AMC:
(Zee Business TV experts panel stock recommendations) The share is trading at its peaks. Markets expert Swati Gupta said that this share is fundamentally strong and this may witness further upside to RS 2,050-2,100 levels. She adviced to keep stop loss at Rs 1850. The share is currently trading at Rs 1,969.6, up 1.05%.
11:30 am: South Indian Bank:
(Zee Business TV experts panel stock recommendations) Markets expert Swati Gupta said the investors should HOLD this share. If this stock breaks out Rs 18 level then it may see a further surge. She suggested a stop loss at Rs 11. The stock is trading at 13.41, a surge of 0.45%.
11:15 am: Godrej Consumers:
(Zee Business TV experts panel stock recommendations) Markets expert Swati Gupta said this share may witness strong gains. Technical analysis also suggest an upsurge. In the 3-4 months period, this share may move up to Rs 700-720 levels, she said. She suggested a stop loss at Rs 640.
11 am: Reliance Capital
(Zee Business TV experts panel stock recommendations) Markets expert Swati Gupta said this share may witness a downside. It may see Rs 35-40 levels. The share is currently trading 6.43% higher at 68.65 on the BSE.
10:45 am: Bank Nifty:
(Zee Business TV experts panel stock recommendations) Markets expert Swati Gupta said for Bank Nifty, 30,600 is the important resistance level. If it breaks out the 31,000 level then it may rally further.
10:30 am: Nifty 50:
(Zee Business TV experts panel stock recommendations) Markets expert Swati Gupta said given the market situation Nifty may further witness upmovement. If Nifty breaks 11,850 level, then it may rally further.b
10:15 am: ACC share (BUY):
(Zee Business TV experts panel stock recommendations) An expert recommended BUY on ACC Ltd. He suggested to keep stop loss at Rs 1,558 and the share may go up to Rs 1620. The current market price of the share is Rs 1572.05, a rise of 1.19% over the previous day's close.
Stocks in news today:
10 am: Bharti Airtel
Bharti Airtel prepaid over Rs 22,000 crore of domestic loans to banks using a Rs 25,000-crore rights issue proceeds, ET reported citing sources. The company's share was trading at 349.7, up 0.36%.
9:50 am: Brent crude futures (front month) rose 1.4% at $65.97 by 0006 GMT.
9:45 am: BHEL (REDUCE)
Brokerage Edelweiss said despite dominant market share and stabilising OPMs, BHEL continues to face long-term growth challenges thrown up by emergence of renewable power (largely solar) and much weaker thermal power demand. The brokerage said, "We downgrade the stock to ‘REDUCE/SP’. A spurt in GDP, driving power demand (8-9%) and improving financial health of SEBs will imply 12-14 GW of annual thermal ordering resulting in Rs 97 target price."
9:42 am: Bank Nifty, Nifty Auto, Nifty IT, Nifty FMCG, Nifty Pharma, among other sectors, were trading in the green.
9:40 am: Powergrid, NTPC, Sun Pharma, L&T, and ICICI Bank were the top gainers in Nifty 50, BPCL, Indiabulls Housing Finance, Titan, and GAIL were the losers.
The markets today (Wednesday) closed higher after testing various resistance levels. Indian equity indices today trading slightly higher after opening flat. BSE Sensex was trading at 39,577.33, up 0.36%, while NSE's Nifty was at 11,828.80, up 0.27% in the morning. In the Nifty index, 33 shares advanced and 17 declined at 9:40 am. In the Sensex basket, 24 stocks were trading in greens, while 6 were in the red. Asian stocks retreated on Wednesday and the dollar inched up after Federal Reserve officials pushed back on market expectations of monetary easing. Sectoral indices were also trading in the green. Post a consolidative phase seen in the last couple of sessions, the bulls were back in charge with the Nifty notching strong intraday gains by the days close on Tuesday. Oil prices rose over 1% on Wednesday as data showed that US crude stockpiles fell more than expected, and worries over potential US-Iran conflict. Brent crude futures were up 1.4% at $65.97 by 0006 GMT.
6:30 pm: SBI Life OFS:
SBI Life Insurance Company's offer for sale (OFS) was subscribed 52% till 1.30 pm on the second day, Wednesday, according to data available publicly.
6 pm: How Budget 2019 may affect IT industry and the sectoral stocks?
In recent months information technology (IT) companies' shares were not doing well. Amid H-1B Visa row, Indian IT industry biggies are keeping their fingers crossed on a favourable outcome. There are speculations that the Union Budget 2019 is going to take some measures that may help the IT industry to transform India into an IT superpower.
"In the last 20 years, Indian IT industry reached its glory by addressing outsourcing demands for conventional IT roles like testing, software services or support, server monitoring etc, where India was a preferred low-cost destination," said Vibhav Gaur, CBO at EbizON.
He said,"World’s leading tech companies and start-ups are already focusing on innovative technologies and its time for India to stop basking in the past glory and catch-up."
5:15 pm: Crude oil prices:
Crude oil (July) prices are trading on a negative note. The immediate support is at 4,050, the next support is at 4,000. The important resistance is at ` 4,200 levels. Until prices close above ` 4,200, selling on rise is advisable.
5:10 pm: Silver prices
Silver (July) prices are likely to trade on a positive note with immediate support at 37,600, next support is at 37,350, said brokerage JM Financial. The important resistance is at 38,600 levels. Until prices close below ` 37,350, buying is
advisable, it said.
5 pm: Gold prices:
MCX Gold (August) prices are likely to trade on a positive note. The immediate support is at 34,170, the next support is at 34,050. The important resistance is at 34,550 levels. Until prices are holding below 34,050, buying is advisable, said brokerage JM Financial.
3:40 pm: PC Jewellers:
The share has lost over 75% in the last 6 months. The stock is currently trading at 46.85 -0.6, a fall of 1.26%.
3:33 pm: Nifty and Sensex closed above the psychological levels of 11,800 and 39,500. Nifty closed at 11,847.55 51.10 , up 0.43%, while Sensex ended the day 157.14 points up at 39,592.08.
3:15 pm: SBI Life:
(Zee Business TV experts panel stock recommendations) Markets expert Kunal Saraogi said one should buy this stock on dip. Those who have bought it should hold the share.
The share is currently trading at Rs 720, a rise of 6.68% from the previous day's close.
3 pm: India Cements
(Zee Business TV experts panel stock recommendations) Market expert Sandeep Wagle said that this share may see 4-5% upside. The share is traing 3.93% higher at 109.65.
2:50 pm: Sun Pharma:
(Zee Business TV experts panel stock recommendations) Markets expert Kunal Saraogi said there is a major chance for a pullback in this share. This stock may see momentum in the coming days. The investors should keep stop loss at Rs 399. Sun Pharma is currently trading at RS 402.4, a rise of 4.40%.
2:40 pm: Sensex rose 216.41 points to trade at 39,651.35, Nifty 50 too trading higher at 11,862.35.
2:30 pm: Bank Nifty
Bank Nifty crossed the psychological level of 31,000 and now trading at 31,086, a rise of 0.78% from the previous day's close.
1:50 pm: Godfrey Phillips (BUY)
(Zee Business TV experts panel stock recommendations) Market expert Sandeep Jain recommended BUY in this stock. He suggested a target of Rs 1050. This share has not permed very well during the year, but the valuation of the share is cheap, he said. The share is trading at 886.40 +13.75, a rise of 1.58%.
1:40 pm: Indian Bank (BUY):
(Zee Business TV experts panel stock recommendations) Market expert Sumeet Bagadia recommended a BUY in this share. He suggested an immediate target of Rs 275 and stop loss at Rs 258. If the share breaks the Rs 275 level, it may see Rs 300 level.
The share is currently trading at 270, up 2.72%.
1:30 pm: BEML share:
(Zee Business TV experts panel stock recommendations) Market expert Sumeet Bagadia recommended BUY in this stock. He suggested a target of Rs 925 and stop loss at 835. If the share breaks the Rs 925 level then it may go up to Rs 970.
The share is trading 4.75% higher at 896.90 on the BSE.
(Zee Business TV experts panel stock recommendations) Market expert Nitin Murarka recommended BUY in this stock. He recommended the target at Rs 520 and the stop loss at Rs 470. The share is trading at 478.7, down 1.37%, on the BSE.
12:20 pm: L&T Technology OFS: The company's offer for sale (OFS) subscribed by 1.6 times in the retail category. The institutional investors' portion was subscribed by 5 times.
12:15 pm: IndiaMart IPO: The B2B ecommerce company's IPO was subscribed by 1.63 times till now. The price band for the issue was kept at Rs 970-973.
12:05 pm: Mahindra Lifespace
(Zee Business TV experts panel stock recommendations) The share has lost about 30% in the last one year. A market expert said unless there is any major development, the investors should avoid buying this share. In the upside, there is a resistance level of Rs 400-410. In the downside, the share may fall to 380 level. The share is trading at 392.85, down 1.73%.
11:50 am: HDFC AMC:
(Zee Business TV experts panel stock recommendations) The share is trading at its peaks. Markets expert Swati Gupta said that this share is fundamentally strong and this may witness further upside to RS 2,050-2,100 levels. She adviced to keep stop loss at Rs 1850. The share is currently trading at Rs 1,969.6, up 1.05%.
11:30 am: South Indian Bank:
(Zee Business TV experts panel stock recommendations) Markets expert Swati Gupta said the investors should HOLD this share. If this stock breaks out Rs 18 level then it may see a further surge. She suggested a stop loss at Rs 11. The stock is trading at 13.41, a surge of 0.45%.
11:15 am: Godrej Consumers:
(Zee Business TV experts panel stock recommendations) Markets expert Swati Gupta said this share may witness strong gains. Technical analysis also suggest an upsurge. In the 3-4 months period, this share may move up to Rs 700-720 levels, she said. She suggested a stop loss at Rs 640.
11 am: Reliance Capital
(Zee Business TV experts panel stock recommendations) Markets expert Swati Gupta said this share may witness a downside. It may see Rs 35-40 levels. The share is currently trading 6.43% higher at 68.65 on the BSE.
10:45 am: Bank Nifty:
(Zee Business TV experts panel stock recommendations) Markets expert Swati Gupta said for Bank Nifty, 30,600 is the important resistance level. If it breaks out the 31,000 level then it may rally further.
10:30 am: Nifty 50:
(Zee Business TV experts panel stock recommendations) Markets expert Swati Gupta said given the market situation Nifty may further witness upmovement. If Nifty breaks 11,850 level, then it may rally further.b
10:15 am: ACC share (BUY):
(Zee Business TV experts panel stock recommendations) An expert recommended BUY on ACC Ltd. He suggested to keep stop loss at Rs 1,558 and the share may go up to Rs 1620. The current market price of the share is Rs 1572.05, a rise of 1.19% over the previous day's close.
Stocks in news today:
10 am: Bharti Airtel
Bharti Airtel prepaid over Rs 22,000 crore of domestic loans to banks using a Rs 25,000-crore rights issue proceeds, ET reported citing sources. The company's share was trading at 349.7, up 0.36%.
9:50 am: Brent crude futures (front month) rose 1.4% at $65.97 by 0006 GMT.
9:45 am: BHEL (REDUCE)
Brokerage Edelweiss said despite dominant market share and stabilising OPMs, BHEL continues to face long-term growth challenges thrown up by emergence of renewable power (largely solar) and much weaker thermal power demand. The brokerage said, "We downgrade the stock to ‘REDUCE/SP’. A spurt in GDP, driving power demand (8-9%) and improving financial health of SEBs will imply 12-14 GW of annual thermal ordering resulting in Rs 97 target price."
9:42 am: Bank Nifty, Nifty Auto, Nifty IT, Nifty FMCG, Nifty Pharma, among other sectors, were trading in the green.
9:40 am: Powergrid, NTPC, Sun Pharma, L&T, and ICICI Bank were the top gainers in Nifty 50, BPCL, Indiabulls Housing Finance, Titan, and GAIL were the losers.