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    Stock Market Highlights: Nifty50 closes above 18,000 for first time since April 4 and Sensex soars 456 pts as market extends gains

    Stock Market Highlights: Nifty50 closes above 18,000 for first time since April 4 and Sensex soars 456 pts as market extends gains

    Stock Market Highlights: Nifty50 closes above 18,000 for first time since April 4 and Sensex soars 456 pts as market extends gains
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    Summary

    Stock Market Highlights: Indian equity benchmarks BSE Sensex and NSE Nifty50 scaled five-month closing highs on Tuesday amid buying across sectors, tracking strength across global markets, even as official data the previous day showed worse-than-expected consumer inflation and industrial production in India. Broader indices Nifty Midcap 100 and Nifty Smallcap 100 finished the day 0.2 percent higher each.

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    Need to continue to wear blue cap of traders, not bother too much about red cap of investors: Mehraboon J Irani 

    Market expert Mehraboon J Irani tells CNBC-TV18 that one can always go ahead and buy stocks that one finds comfortable from a valuation perspective and believes earnings will grow. "Certainly, the upside should be much more than a possible downside even if the market corrects for any other reason. A bottom up approach is very important that investors need to learn," he says. 

    "It's becoming very difficult to predict on a day to day basis what's going to happen tomorrow... Nobody knows right now. So I state the same thing. The bottom (up) approach is very important. It's very easy to get attracted to stocks that have faltered. But don't forget there are quite a few stocks, despite faltering, that are still very expensive. But you do a selection process, do the bottom up approach, buy into select stocks and pay the momentum right now like a good trader would do," he explains. 

    Market At Close | Sensex and Nifty50 at 5-month highs

    Here are some highlights: 

    --Nifty closes above 18,000 for 1st time since April 4

    --Financial stocks lead market higher — Nifty Bank at 10-month high

    --Midcap in the green buy relatively underperforms the market

    --Goldman Sachs believes Bandhan, L&T Fin and IndusInd can be good MFI plays

    --Bajaj Finserv gains as stock goes ex-split — up three percent

    --Dr Lal and Metropolis slip following negative brokerage Report — down two percent each

    --Chemical stocks continue to gain momentum — Deepak Nitrite and SRF up four percent each

    --ACC, Siemens, Ambuja, Adani Enterprises, AB Fashion and Navin Fluorine hit 52-week highs

    --Indian Hotels, CONCOR, M&M Fin and Tata Chem hits 52-week highs

    --Market breadth neutral — advance-decline ratio at 1:1

    --10-year bond yield slips to 7.11 percent vs previous day’s 7.18 percent despite worsening consumer inflation

    Stock Market Highlights: Nifty50 closes above 18,000 for first time since April 4 and Sensex soars 456 pts as market extends gains

    Rupee settles at 1-month high vs US dollar

    Stock Market Highlights: Nifty50 closes above 18,000 for first time since April 4 and Sensex soars 456 pts as market extends gains

    Headline indices on track to close at 5-month highs

    Stock Market Highlights: Nifty50 closes above 18,000 for first time since April 4 and Sensex soars 456 pts as market extends gains

    HCC lender invokes pledge on 5 crore shares on August 5

    Stock Market Highlights: Nifty50 closes above 18,000 for first time since April 4 and Sensex soars 456 pts as market extends gains

    Very positive on midcap IT companies: Dipan Mehta

    Dipan Mehta, Director, Elixir Equities, said, "I am very positive on midcap IT companies which have corrected significantly, I think they have been able to manage the environment far better than the largecap IT companies and I haven't seen a phase where they are growing at a faster pace than the largecap IT company." Mehta is positive on midcap IT companies, which are doing slightly different type of service or focus on different verticals, the likes of Tata Elxsi, LTTS or Mindtree. "Persistent Systems, KPIT - these are all excellent companies. And these corrections are good opportunities if you have a three to five year type of view. I'm sure that these companies would give very good returns going forward."

    Goldman Sachs believes Bandhan, IndusInd and L&T Finance can be good MFI plays

    The brokerage has a target of Rs 390 for Bandhan, Rs 1,187 for IndusInd and Rs 100 for L&T Finance. 

    Stock Market Highlights: Nifty50 closes above 18,000 for first time since April 4 and Sensex soars 456 pts as market extends gains

    GPT Infra wis order valued at Rs 173 crore

    Stock Market Highlights: Nifty50 closes above 18,000 for first time since April 4 and Sensex soars 456 pts as market extends gains

    Moving to customers not easily reachable by banks and NBFCs: Ajay Piramal of Piramal Group

    Stock Market Highlights: Nifty50 closes above 18,000 for first time since April 4 and Sensex soars 456 pts as market extends gains

    Buy Welspun India, Gujarat Pipavav: Manish Hathiramani
    Here are some recommendations by Manish Hathiramani of Deen Dayal Investments:
    -- Buy Welspun India for a target of Rs 95 with a stop loss at Rs 75 
    -- Buy Gujarat Pipavav for a target of Rs 110 with a stop loss at Rs 83 

    From Moneycontrol | HCL Tech lays off 350 employees working on Microsoft’s news related products

    The company informed employees in a town hall last week. Employees were laid off from geographies including Guatemala, Philippines & India. 

    The shares of HCL Technologies Ltd were trading flat at Rs 955.5 on the BSE at the time of writing. 

    HDFC Life been a great investment for a lot of the FIIs: Dipan Mehta

    Dipan Mehta, Director, Elixir Equities said, "We've seen many days in HDFC Life as institutional investors try and unlock and book some profits. It's been a great investment for a lot of the FIIs who bought this stock. On the whole, HDFC Life seems to be on a solid secular growth path and although valuations are on the higher side, I think it's been a consistent performer gaining market share as well." According to Mehta, the most important aspect is that they have been instrumental in launching several innovative products, which have been very well received. "Very positive on HDFC Life per se, and maybe corrections, which come like this, maybe today also because of a huge selling are good opportunities to add some position to HDFC Life."

     Zydus Life gets final US FDA nod for Lenalidomide capsules

    Stock Market Highlights: Nifty50 closes above 18,000 for first time since April 4 and Sensex soars 456 pts as market extends gains

    Dixon Tech shares scale 5-month high — here's what's driving the stock

    Dixon Technologies shares jump by as much as Rs 172.6 or 3.8 percent to Rs 4,670 — the highest intraday level recorded in five months — after the company's arm receives approval to get an incentive of Rs 53.28 crore from the government under the production-linked incentive scheme for manufacturing mobile phones.

    Padget Electronics — a wholly-owned subsidiary of Dixon Tech — becomes the first company to receive the incentive from the government.

    Buy Britannia Industries, Tata Consumer: Sacchitanand Uttekar
    Sacchitanand Uttekar of Tradebulls, suggests buying Britannia Industries from a trading perspective for a target price of around Rs 3,820 on the higher side. The positional target is somewhere close to Rs 3,900 with a stop loss at Rs 3,710. Long position should be added in Britannia.

    Other recommendation by Sacchitanand Uttekar: 
    -- Buy Tata Consumer for a target of Rs 880-900 with a stop loss at Rs 835 

    Growth outlook is still positive: Prateek Agarwal

    Prateek Agarwal, ASK Investment Managers (Fundamental) said, "As Indian investors we need to be focused on, growth outlook is still positive. Yes, depressed global scenario does pull down our growth from rather versus what it could have been. In terms of valuations, we are I think back to levels which are sustainable, close to 18,000 on the Nifty."

    "Flows into mutual fund is just one bit of what flows from Indians happen to the market. I think with resumption of SBI buying and broadening of the breadth of the market, many retail investors may be doing it directly. So that again has to be factored in." Agarwal sees flows from Indians into the equity markets as very secular. "It can have its ups and downs but given the low percentage of equities in the asset book of an Indian I think the journey has just about started. We have a very long way to go. So these flows should be taken as very secular and should continue deep into the future."

    AurionPro launches digital transformation platform ‘Aurobees’ for SMEs

    Stock Market Highlights: Nifty50 closes above 18,000 for first time since April 4 and Sensex soars 456 pts as market extends gains

    Rupee at over one-month high vs dollar

    Stock Market Highlights: Nifty50 closes above 18,000 for first time since April 4 and Sensex soars 456 pts as market extends gains

    Broader market indices mirror gains in Nifty50, Sensex
    Nifty Midcap 100 rises 0.35 percent to 32,457.95; Nifty Smallcap 100 up 0.3 percent at 10,097.40.

    Nifty Midcap 100
    -- Gainers - SRF, Tata Elxsi, Varun Beverages
    -- Losers - Adani Total Gas, Hindustan Aeron, Mindtree

    Nifty Smallcap 100
    -- Gainers - Kajaria Ceramic, APL Apollo, Linde India
    -- Losers - KEI Industries, Tanla Platforms, Fine Organics

    Industry will have to keep up with the pace of SEBI regulations: Madhabi Puri Buch

    Madhabi Puri Buch, SEBI Chairperson, said, that SEBI has no say around pricing of new companies. She added that there is a need to manifest the spirit of parternership between SEBI and corporates. Every action at SEBI is contingent on data and every step is taken based on recommendations from the advisory committee. 

    Stock Market Highlights: Nifty50 closes above 18,000 for first time since April 4 and Sensex soars 456 pts as market extends gains

    IT stocks in focus

    The Nifty IT is marginally down in late morning deals, having risen as much as 0.7 percent earlier in the day.

    Stock Market Highlights: Nifty50 closes above 18,000 for first time since April 4 and Sensex soars 456 pts as market extends gains

    Indian markets poised to go up a lot: Mark Matthews of Julius Baer

    While speaking of India, Matthews said that local buying was the biggest factor that kept equities afloat, and it continues to do so through the SIPs. (Read more)

    Nifty50 returns above 18,000 after a gap of 5 months 

    Here's how some of the key sectors fared on Dalal Street during this period: 

    Stock Market Highlights: Nifty50 closes above 18,000 for first time since April 4 and Sensex soars 456 pts as market extends gains

    Tata Communications slips into the red

    Bajaj Finserv shares rise as the stock trades ex-split

    Bajaj Finserv climbs more than five percent as the stock trades ex-split and bonus on BSE, a day ahead of the record date to determine who is eligible to receive the bonus equity shares and subdivision of existing equity shares. (Read more)

    Buy Adani Ports, Axis Bank, Jubilant FoodWorks: Ashish Chaturmohta

    Ashish Chaturmohta, Director and Head-Research at JM Financial Services, makes the following trading recommendations: 

    --Initiate long in Adani Ports for a target of Rs 1,000 in the immediate short term basis and Rs 1,100 in the next couple of months with a stop loss at Rs 910

    --Long in Axis Bank for an immediate short-term target of Rs 850 with a stop loss at Rs 785

    --Long in Jubilant FoodWorks for a target of Rs 660-670 with a stop loss at Rs 610 

    --Long in SRF for a short-term target of Rs 2,850 and Rs 3,000 in the next couple of weeks with a stop loss at Rs 2,680 

    NIMs and credit cost will surprise positively over the next 6 months: Ashish Gupta of Credit Suisse 

    Large Trade | 6 lakh shares of Endurance worth Rs 90.6 crore change hands

    Stock Market Highlights: Nifty50 closes above 18,000 for first time since April 4 and Sensex soars 456 pts as market extends gains

    Infosys, SBI and Apollo Hospitals top blue-chip gainers

    Stock Market Highlights: Nifty50 closes above 18,000 for first time since April 4 and Sensex soars 456 pts as market extends gains

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