Sensex opens up 100 pts, Nifty nears 10,600 on Asian cues; metals melt

Ashok Leyland, Shriram Transport, Cholamandalam Finance, GNFC, Delta Corp, Gati, Swaraj Engines and Thomas Cook rallied up to 5 percent.


Benchmark indices opened higher, following a positive lead from Asian stocks.

The 30-share BSE Sensex was up 101.63 points at 34,552.40 and the 50-share NSE Nifty rose 14.20 points to 10,598.90.

Nalco, Hindalco Industries, Vedanta, JSPL, JSW Steel and SAIL fell up to 9 percent.

Tech Mahindra, BPCL, and IOC were under pressure.

Bharti Infratel, Indiabulls Housing Finance, ONGC, Zee Entertainment, TCS and Yes Bank were early gainers.

Ashok Leyland, Shriram Transport, Cholamandalam Finance, GNFC, Delta Corp, Gati, Swaraj Engines and Thomas Cook rallied up to 5 percent.

LIC Housing, 3i Infotech and Ujjivan Financial fell up to 9 percent.

Rupee Update: The Indian rupee recovered by 10 paise to 66.38 against the US dollar today.

The rupee on Monday ended at its lowest level against the dollar since March 10, 2017, at 66.48.

Technical Recommendations: We spoke to HDFC Securities and here’s what they have to recommend:

Thomas Cook: BUY| Target Rs. 325 | Stop-loss Rs 260 | Return 15%

NRB Bearing: BUY| Target Rs195 | Stop-loss Rs 168 | Return 10%

TAKE Solutions: BUY| Target Rs. 230 | Stop-loss Rs 190 | Return 12%

Disclaimer:-The views and investment tips expressed by investment experts are their own. Ripples Advisory advises users to check with certified experts before taking any investment decisions.

Stocks in news: Bharti Infratel: Company’s Q4 net profit rises 2 percent to Rs 606 crore

CEAT: The company’s management will meet on April 30, 2018 and consider financial results as well as dividend issue.

Coal India: The company is considering Rs 6,500 crore provision for gratuity payout

Tech Mahindra: The company has tied up with Andhra Pradesh Govt To Establish Cyber Security Operations Centre In Vijaywada

Bharti Airtel: Company plans network expansion in Gujarat with 6000 new sites and 2,000 kilometres of optic fiber in FY19 to strengthen mobile broadband footprint.

Thomas Cook: Shareholders to get 1,889 shares of Quess Corp for every 10,000 shares held

Shilpi Cables: Company gets 90-day extension for corporate insolvency resolution

Jet Airways: Company signs codeshare pact with Aeromexico

Market Check: The market was higher in pre-opening trade, following a recovery in Asian stocks.

The 30-share BSE Sensex was up 167.06 points at 34,617.83 and the 50-share NSE Nifty rose 2.30 points to 10,587.

Ujjivan Financial plunged 10 percent, Nalco fell 7 percent, Hindalco declined 6 percent and Vedanta lost 4 percent.

GNFC and Delta Corp gained 4 percent each while Balrampur Chini rose 2 percent. Thomas Cook rallied 6 percent.

Wall Street ended mixed on Monday as concerns about soft smartphone demand weighed on tech stocks and pulled the Nasdaq lower while earnings optimism protected against deeper losses, said a Reuters report.

Asian stocks recovered after morning losses, with the China’s Shanghai Composite rising 2 percent and Hong Kong’s Hang Seng rising 1.2 percent. Japan’s Nikkei and Australia’s ASX 200 gained more than half a percent each.

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