Indian benchmark indices ended the June F&O expiry flat on Thursday as gains in auto and realty sectors were capped by losses in IT and metal space. Meanwhile, Asian markets remained upbeat on hopes of a tentative trade truce between the United States and China. The Sensex ended 6 points lower at 39,586, while the broader Nifty50 index lost 6 points to end at 11,841. Meanwhile, in broader markets, Nifty Midcap rose 0.5 percent, while, and the Nifty Smallcap index was flat. Tata Motors, Indiabulls Housing, M&M, Bharti Infratel, and Eicher Motors, were among the top gainers on the Nifty50, whereas Tech Mahindra, Reliance, HCL Tech, ITC, and Hindalco led the losses. Sectoral indices ended mixed for the day. The Realty index gained the most, up 1.9 percent followed by the Nifty Auto (up 1 percent), Nifty Fin Services (up 0.4 percent), and Nifty Bank (up 0.2 percent). Meanwhile, Nifty IT fell 0.7 percent, whereas, Nifty Media and Nifty Metal declined around 0.3 percent each.

Geoffrey Dennis, emerging markets commentator, JPMorgan, on Thursday said that he does not expect big gains in emerging markets from now till the end of the year. He, however, said that India is at a relatively better position compared to other emerging markets. Speaking about United States Secretary of Treasury Steven Mnuchin’s comments on the trade deal, Dennis said, “We may get some reassuring news on trade over the weekend but I would be surprised if we get a deal. READ MORE

As per media reports, HDFC Bank is planning an initial public offering (IPO) of its non-bank lending unit, HDB Financial Services (HDB), and may raise Rs 7000-8000 crore or more. HDB Financial Services has an AUM of Rs 55,425 crore in FY19 (up 25% YoY) and posted FY19 Net profit of Rs 1,153 crore (up by 23.6% YoY) and offers products like personal loans, CV loans, gold loans, and LAP e tc. HDFC Bank held 95.53% stake in HDB Financial Services.

Market retreats from day's high with Nifty and Sensex turning flat. Nifty gave up more than 70 points from day's high and was currently trading below 11,850, meanwhile Sensex was trading around 39,500-mark. Tech Mahindra, Adani Ports, Wipro, UPl, and Zee were the top draggers on the Nifty50 index.

With the Reserve Bank of India (RBI) not nudging its decision on banning cryptocurrencies and the case against the ban still lies status quo at the Supreme Court, India's largest cryptocurrency trading exchange Koinex is shutting shop, according to a blog post by founder Rahul Raj. Koinex was set up in 2017 and within four months, it was the country's largest digital assets trading fund as it recorded $265 million in trading volume and had more than 40,000 new users in 24 hours during the peak month of December. READ MORE

Shares of Cox & Kings hit a lower circuit of 10 percent on Thursday after Brickwork Ratings has downgraded the company's non-convertible debentures (NCDs) issue worth Rs 50 crore to BWR AA- from BWR AA+, with stable outlook.

- The BSE sensex was trading over 37,700, up 150 points, while Nifty was near 11,900-levels, up 50 points.

- Cox & Kings shares declined 10 percent after Brickwork Ratings downgraded the rating of the company’s NCDs of Rs 50 crore.

With L&T having bought a controlling stake in the company, Mindtree founders have decided to give up the fight and sell their stake, thereby exiting the firm, sources told CNBC-TV18. The final trigger for this decision was Nalanda Capital, that backed the promoters in the fight, selling its 10.6 percent stake in Mindtree, said the sources, who did not want to be named. “The founders have together agreed to sell their stake. Some founders will be selling via tendering their stake in the open offer, while some may stay on for some time and sell stake over a period of time via open market transactions post-L&T deal completion,” said a source close to the development. READ MORE

Shares of pharmaceutical companies are having a tough time in the first half of the calendar year 2019, with the Nifty Pharma Index down around 10 percent so far this year. Mixed March-quarter earnings, muted earning guidance and regulatory issues are some of the factors that have hammered the pharma stocks largely. Centrum Broking said pharma companies under their coverage reported growth in sales and revenue, while net profit declined and EBITDA (earnings before interest, taxes, depreciation, and amortisation) margin remained flat. READ MORE

- Indian benchmark indices opened higher on Thursday, despite muted global trends, as markets awaited the G20 meet. Sentiment also remained positive ahead of the June F&O expiry due later today.

- Meanwhile, Asian shares struggled to find direction after US President Donald Trump gave mixed signals on US-China trade negotiations. 

- At 9:20 am, the Sensex was trading 111 points higher at 39,703, while the broader Nifty50 index added 34 points at 11,882.

- Indiabulls Housing, Bharti Infratel, IndusInd Bank, Bharti Airtel and L&T were among the top gainers on the Nifty50, whereas UPL, Tech Mahindra, Coal India, Reliance Industries and Dr Reddy's led the losses.

- All sectoral indices, except Nifty Pharma and Nifty IT, were trading in the green in the opening trade. The Nifty PSU Bank index gained the most, up 0.9 percent followed by the Nifty Realty (up 0.8 percent), Nifty Media (up 0.6 percent), and Nifty Auto (up 0.5 percent). 

- Buy Vedanta with a stop loss of Rs 173, target at Rs 188

- Buy Adani Ports with a stop loss of Rs 407, target at Rs 425

- Buy HDFC Bank with a stop loss of Rs 2,450, target at Rs 2,520

- Buy Bata India with a stop loss of Rs 1,410, target at Rs 1,465

- Buy Bajaj Finance with a stop loss of Rs 3,600, target at Rs 3,675