Intraday Stock Cash Tips:-
• BUY GODFRY ABOVE 1375 TG-1385-1395 SL 1358.9
• BUY NAVINFLOUR ABOVE 1925 TG-1939-1955 SL 1907.85
• BUY DOLPHINE OFFSHORE ABOVE 132 TG-134.5-138 SL 124.95
• BUY 8K MILES ABOVE 1835 TG-1849-4865 SL 1803.85
The market has opened flat as the Sensex is up 20.82 points at 25796.56. The Nifty is up 4.45 points or 0.06 percent at 7836.05. About 500 shares have advanced, 127 shares declined, and 64 shares are unchanged. Dr Reddy's Labs is down 8.5 percent while Hero, HDFC Bank, Wipro and Lupin are major losers. Sun Pharma, Tata Motors, Infosys, L&T and HUL are top gainers.
Indian Market Overview:-
• Nifty closed on negative note after a choppy movement for the day. Nifty declined by 17 points to end at 7831.
• The 30-share BSE Sensex down by 43 points and closed at 25775. However, the BSE Midcap index gained 0.4 percent and Small cap rose 0.5 percent
• Tata Motors was down 0.25 percent as Goldman Sachs has downgraded the stock to sell from neutral as it believes the stock has priced in better H2FY16 volume growth and margin after H1FY16 slump.
• The Finance Ministry has recently proposed a roadmap for the phasing out of all tax exemptions by the industry. According to proposal sunset clauses with regards to tax exemptions will be renewed and no weighted deduction will be allowed for any specified business activity from April 1, 2017 onwards.
Global Market Overview:-
• Asian markets opened in green on Monday, following a rally on Wall Street last week as investors continue to look out for comments from central bankers on the trajectory of US monetary policy.
• The Dow Jones Industrial Average closed 91 points, or 0.51 percent, higher at 17,824, the S&P 500 ended 8 points, or 0.38 percent, up at 2,089, while the Nasdaq was 31 points, or 0.62 percent, higher to finish at 5,105.
• Low iron ore prices and oil at sub-USD 45 a barrel are expected to exert strain on resources and commodities producers, most of whom opened lower.
• Oil producers also opened mostly in the red. Santos and Woodside Petroleum shares were down while Oil Search saw a 1.04 percent gain in the morning session.
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