Stock Market Open Lower on Based Selling

Sensex, Nifty fall further; NMDC plunges, Tata Steel gains

The market opened volatile on first day of the week. The Sensex fell 58.74 points to 28383.36 and the Nifty declined 26.15 points to 8579.85. About 506 shares have advanced, 532 shares declined, and 115 shares are unchanged on the BSE.

NMDC topped the selling list, down 4 percent after CLSA has a sell rating on the stock and sees more downside to the stock. Larsen & Toubro, Bharti Airtel, TCS, M&M, Sesa Sterlite, Idea Cellular, IndusInd Bank, Kotak Mahindra Bank and Ambuja Cements declined 0.5-1.5 percent. Reliance Industries also declined marginally despite strong earnings. The run up in stock in previous few sessions might have discounted strong earnings. Reliance Industries delivered its best ever quarterly performance with its profits rising over 22 percent sequentially. The company’s gross refining margins (GRMs) are at a 2-year high and that offsets weakness in other segments.

However, Sun Pharma, NTPC, Tata Steel, Hindalco, GAIL and Lupin gained 0.5-1.5 percent.

 The Indian rupee slipped in the early trade on Monday. It has opened lower by 18 paise at 62.54 per dollar versus 62.36 Friday.
Intraday Stock Trading Tips:

SELL BEML (LCP-1091.6) BELOW 1088 TG-1081-1072

SELL GUJRAT GAS (LCP 809.2) BELOW 806 TG-799-791

SELL VADILAL INDUS (LCP-360.65) BELOW 358 TG-354-348

SELL WHEELS (LCP-1280.05) BELOW 1275 TG-1267-1257

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Stock Cash Trading Tips— Morning Stock Market Trends

Indian markets ended green. Nifty and Sensex up by 0.65% and 0.48%.

Asia-Pacific markets red. Hang sang down by 0.32% and Kospi down by 0.37%.

Wall Street up.EUR final core CPI stood at 0.6%. Dow futures down by 10 pts.

The S&P BSE Sensex rallied over 200 points in trade on Monday, led by gains in Axis Bank BSE 3.43 %, ICICI Bank BSE 1.11 %, L&T, HDFC Bank and HDFC.
Tracking the momentum, the 50-share Nifty index also moved higher to reclaim its crucial psychological level of 8950 in trade today, supported by gains in banks, capital goods, autos, and realty and power stocks.
The 30-share index was at 29533.62, up 120 points or 0.41 per cent. It touched a high of 29570.60 and a low of 29451.69 in trade today.
The Nifty was at 8941 up 40 points or 0.45 per cent. It touched a high of 8961.80 and a low of 8930.05 in trade today.

The Indian rupee opened marginally lower at 61.89 per dollar on Monday versus 61.83 Friday. We expect a range of 61.75-62.15/dollar today,

Stock Cash Trading Tips: 

BUY MCX (LCP-1189.95) ABOVE 1193 TG-1200-1210

BUY LIBERTY SHOES (LCP 297.85) ABOVE 300 TG-304-310

BUY MPSLTD (LCP 902.4) ABOVE 905 TG-912-920

BUY TATAELEXI (LCP-1113) ABOVE 1116 TG-1124-1133

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