Stock Cash Premium Market Updates:-
• The 50 share NSE Nifty has ended lower after a lot of struggle & slipped 43.90 points or 0.6% and Manages to close at 7805.90.
• The BSE Sensex was down 169.65 points or 0.7% closed at 25436.97. Market breath was weakasabout 1291 shares advance while 1313 shares declined.
• Exect profit of TVS Motor is likely to jump 18 percent to Rs 107 crore in January - March time span from Rs 90.5 crore in corresponding quarter last fiscal.
• HDFC has posted net profit at Rs 2607 crore in January-March quarter, up 40 percent from Rs 1862 crore in corresponding quarter last fiscal. However, its net profit includes proceeds of Rs1520 crore from sale of investments
Nifty hovers around 7850; L&T, Bharti up 3%
The market has cooled off from early gains as the Sensex is up 141.12 points or 0.5 percent at 25578.09. The Nifty is up 44.35 points or 0.6 % at 7850.25. About 1431 shares have advanced, 650 shares declined, and 128 shares are unchanged. L&T and Bharti are up 3% each while other gainers in the Sensex are Adani Ports, Tata Motors and NTPC. Losers in the Sensex are Sun Pharma, Coal India, Lupin, HUL and Dr Reddy's. Oil prices recovered in Asia today but nagging worries about excess supplies kept them below 2016 highs after data showed Iran and Iraq increasing output. The commodity has rallied for four straight weeks thanks to a weaker dollar and hopes that the world economy is slowly move to positive. Adding to demand concerns, data showed factory activity in world number two economy and top energy consumer China slowed in April, leading to worries that a recent spate of upbeat indicators may have been a blip.
Buy Tata Power at declines. For short term, hold with a stop loss around Rs 66.
Buy HDFC for medium term gains. The stock is likely to see modest upside in the near term.
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