MARKETS LIVE: Infosys, Sun Pharma, Vedanta rally; Tata Motors falls 3%

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SI Reporter | New Delhi Last Updated at June 25, 2018 10:32 IST

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Sun Pharma nears 52-week high as stock surges 32% in five weeks Shares of Sun Pharmaceutical Industries were trading 2% higher at Rs 587 per share on the BSE in an otherwise subdued market, nearing their 52-week high of Rs 609 per share touched on February 12, 2018. The pharmaceutical stock which is quoting at its highest level since February 15, 2018, has rallied 32% in past five weeks as compared to 3% rise in the S&P BSE Sensex. READ MORE JEFFERIES ON HDFC Bank: FY18 Annual Report Snippets Rating BUY Price Target INR2,465.00 (from INR2,360.00) Price INR2,083.35 A deep dive confirms the bank's strong anchor within the Retail/SME clientele which helps drive 70% of assets, 75% of liabilities and 80% of fees (60% in FX & derivatives) etc. The bank expects to be an enabler across channels & products, and improve customer experience, while being married to a risk-based pricing principle to drive profitability. Revise price target to Rs 2,465 and retain Buy. Election hurdle for sentiment The conventional wisdom is that largecaps are less ‘risky’ even though they give lower returns than smallcaps/midcaps. Most direct investors accept the risk and look for smallcaps/midcaps in the hopes of earning higher returns. Aggressive active funds also seek multicap exposure for the same reasons. In the Indian context, we can compare the Nifty, which tracks only largecaps, to the NSE 500, which offers broad multi-cap coverage including many midcaps and some smallcaps. READ MORE Market Check S&P BSE Sensex 35,695.76 0.02% Nifty 50 10,809.75 -0.11% S&P BSE 200 4,672.63 0.08% Nifty 500 9,294.45 -0.02% S&P BSE Mid-Cap 15,865.99 0.17% S&P BSE Small-Cap 16,602.87 0.38% BSE, NSE to impose charge on high algo OTR in equity segment from Jun 29 Leading exchanges BSE and NSE have said that charges for high algo order to trade ratio (OTR) will be levied in the equity segment from June 29. The bourses currently levy charges for high algo OTR in equity derivatives and currency derivatives segments. READ MORE F&O Strategies SAIL JULY FUTURES: Buy around 83.50-83.75 for a potential upside target of 88 with a stop below 80.50 (spot levels) TATACOMM JULY FUTURES: Sell around 604 for a potential downside target of 585 with a stop loss placed above 615 (spot levels) PROTECTIVE PUT STRATEGY IN INDIACEM : Buy one lot of INDIACEM JUL FUT @ 112.50 & Buy one Lot of INDIACEM JUL 110 PE @ 4.25 | BEP: 116.75 | Max Profit: Unlimited above BEP | Max Loss: 23625 | Positional Stop Loss: 106 (Spot Levels) (Source: Karvy)

Benchmark indices trade flat following Asian shares, that got the week off to a cautious start on Monday amid lingering concerns about escalating trade frictions while US oil prices maintained hefty gains made after major oil producers had agreed on a modest increase in production.

Meanhilwe, a new IPO, updates on trade tiff between US and China and monsoon’s progress will keep investors on their feet, ahead of the June F&O Expiry later this week.

Aurangabad-based auto component maker Varroc Engineering will launch its Rs 19.55 billion initial public offer that opens on June 26 at a price band of Rs 965-967. The offer consists of an offer-for-sale to the tune of 20,221,730 equity shares by promoters and existing investors

Globally, MSCI’s gauge of stocks across the globe has fallen five of the last six weeks, including last week, when it declined one percent - its biggest weekly drop in three months as the threats of trade wars have become all the more real.

Chinese shares were among the biggest losers, tumbling 3.7 per cent last week, as Trump put the heat on Beijing, threatening to hit $200 billion of Chinese imports with 10 per cent tariffs.

First Published: Mon, June 25 2018. 08:15 IST