MARKETS LIVE: Key things to watch before the opening bell

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SI Reporter | New Delhi Last Updated at July 24, 2018 08:41 IST

Today's picks: From Bajaj Auto to ITC, hot stocks to watch on Tuesday ITC Current price: Rs 284 Target price: Rs 288 Keep a stop at Rs 282 and go long. Add to the position between Rs 286 and Rs 287. Book profits at Rs 288 READ MORE Investment in P-notes plunges to more than 9-year low of Rs 836.88 bn Investments through participatory notes into Indian capital markets plunged to more than nine-year low of Rs 836.88 billion at June-end amid stringent norms put in place by the watchdog Sebi to check misuse of these instruments READ MORE MUST READ Sebi probes sharp fall in the midcap stocks amid unfair trade allegations The market regulator Securities and Exchange Board of India (Sebi) has begun a preliminary investigation into the crash in share prices of small- and mid-cap companies in recent months. Sources say the regulator is probing the abrupt price movement in close to 70 stocks, following red flags raised by its surveillance system CLICK HERE FOR MORE Stock ideas for today: ICICI Bank, Jindal Steel and Power BUY ICICI BANK CMP : 275.55 TARGET : 299 STOP LOSS : 260 The stock has been maintaining a good base at around 258-260 levels and almost has made a double bottom formation pattern in the daily chart and currently has indicated a positive candle to signify strength and has potential to rise further in the coming days. READ MORE HERE Markets on Monday Index Current Pt. Change % Change S&P BSE SENSEX 36,718.60 +222.23 +0.61 S&P BSE SENSEX 50 11,597.66 +68.21 +0.59 S&P BSE SENSEX Next 50 31,935.29 +558.73 +1.78 S&P BSE 100 11,298.70 +85.39 +0.76 S&P BSE Bharat 22 Index 3,370.17 +41.82 +1.26 SGX Nifty The SGX Nifty was at 11,097, slightly down by 0.02 per cent from the previous close.

The benchmark indices are likely to take cues from their Asian peers amid lack of major domestic cues.

That apart, stock-specific actions are likely to continue during the day amid the release of June quarter results. Among key results, Asian Paints, GlaxoSmithKline Pharmaceuticals, ICICI Prudential Life Insurance Company and Info Edge (India) are likely to announce their June 2018 quarter earnings later today.

Investors will also keep a watch on movements in rupee and oil prices during the day.

GLOBAL MARKETS

In the Asian markets, Japan's Nikkei bounced 0.4 per cent in early trade as a pullback in the yen eased concerns about earnings pressure on exporters. Moves elsewhere were marginal, with MSCI’s broadest index of Asia-Pacific shares outside Japan barely changed.

OIL PRICES

Oil prices extended losses on Tuesday as attention shifted to the risk of oversupply, with market participants shrugging off escalating tensions between the United States and Iran.

Brent crude oil was down 10 cents (0.14 per cent) at $72.96 a barrel, after settling down 1 cent on Monday. US crude was down 9 cents (0.13 per cent) at $67.80 a barrel. The contract fell 37 cents the previous day.

(with Reuters inputs)

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First Published: Tue, July 24 2018. 08:15 IST