Developments that may determine market behaviour and sentiment during the day’s trading
Mumbai: Market related news stories are crucial for making smart, informed investment decisions. Trading advice and brokerages for key stocks also hold the key to preparing for the trading day.
Here are developments that may determine market behaviour and sentiment during the day’s trading.
*Asian markets opened higher in trade.
*US markets fell on Wall Street with tech shares making losses while investors are keeping an eye on Fed Chair Jerome Powell. Facebook’s share lost over 2 per cent as Dow fell more than 100 points, S&P 500 pulled back 0.5 per cent and Nasdaq ended 0.8 per cent lower.
*European markets closed lower with pan-European Stoxx 600 dipping below the flatline.
*Crude opened lower in morning session with Brent down by 0.4 per cent to $63.89/bbl and WTI dropping 0.28 per cent to $57.46/bbl. Worries over Iran’s nuclear program impacted crude.
Stocks in News
Titan Q1: Growth in jewellery segment for Q1 was lower than planned due to impact of higher gold prices. Revenue for watches went up by 19 per cent, eyewear revenue increased by 13 per cent and jewellery revenue was up 19 per cent.
Fortis Healthcare: Shareholders approve sale of the firm’s 28.89 per cent stake in Medical and Surgical Centre (MSCL) which owns two hospitals in Mauritius.
Tata Motors: Firm gets order of 200 Hexa vehicles from Bangladesh army.
Hotel Leela Venture: SEBI has informed NCLT that it needs three more months for probe into deal between Brookfield and Leela Venture.
Redington: Apple suppliers in Asia are in focus as it has been downgraded to sell for neutral by Rosenblatt securities and will face fundamental deterioration in next 6 to 12 months.
Canara Bank: The bank has floated RFQ inviting bids for sale of equity shares of Webcon Consultancy.
RIL: The company is targeting 75 million homes with its fibre-to-home roll-out.
Credit Suisse on Titan: Downgraded Titan to Neutral from Outperform, target price at Rs 1250/share
Morgan Stanley on Mindtree: Maintained Underweight rating, target price at Rs 820/share
HSBC upgraded Tech Mahindra to Buy with lower target price of Rs 800
Morgan Stanley on JSPL: Maintained Overweight rating, target price at Rs 188/share
CLSA on Tata Motors: Retained Sell rating, target price Rs 150/share
Bofa downgraded Oberoi Realty to Neutral, target price at Rs 627 on rich valuations