Stock Market Firm, Banking Stocks Down

Stock Market opened in red, however with firm global cues benchmark indices are moving in the positive zone. Sensex is 59.26 up at 26375 while Nifty is 18.50 points up at 8132. In broader market small cap and midcap sectors are touching the heights. BSE Small Cap is 111 points up at 12139, BSE Midcap has moved up 100 points at 12283 and Nifty Midcap has jumped 136 points at 14666.

Asian Market Updates: Japan,s Nikkei has dropped 38 points at 18343 while all the other global indices are trading in the positive zone with Hang Seng leading the region with 204 points at 22928 and Taiwan Index is 63 points up at 9222. 

Indian currency Rupee, is trading lower by 30 paise at 68.76 against US Dollar. 

Crude Oil has slipped approximate to 4 percent. After RBI new CRR banking stocks have slipped today.

Stock Market Struggling to Bullish, Stocks Recommendations

Market showed a positive behavior by opening in green today. However it was unable to hold its early gains. Sensex dropped 19 points to 26377 while Nifty slided down 8 points to 8102. Rupee declined 6 paise and opened at 67.19 a Dollar. Almost all the sectors are trading positive. Asian Market is trading negative, except the Taiwan Index trading on 8563 with 27 points up.

Shares in Effect Today

- There can be concessions for mobile device makers. Government has decided to encourage the Make in India.
Buy ITI above: 30.25 Targets: 31.62 - 33.04 - 34.49 - 35.98 Stoploss : 28.89

- Chemicals & Fertilizers Ministry has started giving subsidy to Deepak Fertilizers. All the arrears would be given to the company.
Buy Deepak Fertilizers above: 165.76 Targets: 168.91 - 172.17 - 175.47 - 178.8 Stoploss : 162.56

- There is a conference of State Finance Ministry on the GST bill. If there is some positive news, companies can benefit.
Buy Gati above: 175.56 Targets: 178.8 - 182.15 - 185.54 - 188.96 Stoploss : 172.26

Stock Market Down, Commodity Market Rising up

Market opened in red today. The Sensex is down 152 points or 0.56 percent at 26,869 and the Nifty is down 39 points or 47 percent at 8,233. Top Losers are Infosys, HUL, HDFC, Lupin and Dr. Reddy's Lab. NTPC, Reliance, Tata Power, BPCL and Axis Bank are top gainers. Maximum sectors are trading down to negative. In Asian Market, Nikkei slump by 230 points to 16600 and Hang Seng too slipped 30 points to 21297 points while Shanghai Composite live on 2926 points. In Bullion Market Gold drifted up 236 to Rs 29,629 and Silver trading on Rs 40,254 per kg. Crude Oil live at Rs 3,433 per barrel and Natural Gas live at Rs 164. Indian currency, Rupee is trading on 66.62 against Dollar.

Shares in News Today 

• Drop in America's crude inventory and crude stocks. While crude oil prices have reached 52$ in International Market. 

Buy ONGC Ltd. above: 221.26 Targets: 224.88 - 228.65 - 232.44 Stoploss 217.56

• US agency, US Consumer Safety Commission has filled the petition against the company against the negligence in packaging. According to Prabhudas Liladhar they can be charged $1.5-3 million. 

Sell Dr Reddy's below 3066.39 Targets: 3054.08 - 3040.28 - 3026.51 Stoploss : 3080.25 

• Low export quota has been removed from the sugar mills which was applied due to low production of sugar. 

Sell Bajaj Hindusthan Sugar Ltd. below 20.25 Targets: 19.15 - 18.07 - 17.02 Stoploss: 21.39