Live Stock Market Afternoon Highlights

•India's benchmark BSE index drops 0.2 percent while the broader NSE index is trading 0.13 percent lower.
•Caution ahead of the expiry of the monthly derivatives contract due on Thursday and concerns around Iraq offset the impact of buying by foreign investors.
•Capital goods shares were leading the fall with Larsen and Toubro Ltd falling 1.01 percent. The stock is still up 54.4 percent so far this year.
•Among other blue chips, State Bank of India gains 1.3 percent while Bajaj Auto Ltd is up 2.3 percent.
•Most realty stocks gained. Index heavyweight Reliance Industries (RIL) declined. Shares of state-run aluminium major National Aluminium Company jumped.

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Live Stock Tips: Sensex Edges Lower a Day

The BSE Sensex is down 0.04 percent, while the Nifty is lower 0.06 percent as caution ahead of the expiry of June derivatives on Thursday and concerns around Iraq cancel out the impact of buying by foreign investors.

Asian shares were on the back foot early on Wednesday, taking their cue from Wall Street as the deepening crisis in Iraq and a report that the United States could be easing restrictions on crude exports triggered a rally in oil prices.

Shares of Infosys Ltd rise 0.6 percent, while Reliance Industries Ltd (RELI.NS) is down 0.5 percent.

Reliance Communications Ltd falls 2 percent after raising 48 billion rupees ($804 million) in its share sale that was announced on Tuesday, as the telecommunications company looks to cut debt.

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Stock Tips Alert: Sugar Stocks Extend Overnight Gain

Shares of sugar companies extended overnight gains as sentiment turned positive following the government's decision to hike import duty on sugar.To tackle the rising crude oil prices, the Food Minister announced that ethanol blending with petrol will be increased to 10 per cent from 5 per cent. Shares of companies operating in the capital goods sector were in demand.
Bharat Petroleum Corp rises 2.5 percent, Hindustan Petroleum Corp surges 4.4 percent and Indian Oil Corp is up 3.5 percent.
 

Bajaj HindusthanBSE -0.21 % surged 10 per cent, Shree Renuka SugarsBSE 0.85 % soared 5.78 per cent, Uttam Sugars gained 4.83 per cent, Dwarikesh SugarBSE 4.93 % moved up 5 per cent, Oudh Sugar rallied 4.87 per cent and Dhampur SugarBSE -0.91 % moved 3.42 percent intraday.

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Watch Morning Stock Market Highlight for Profit Trading

•The S&P BSE Sensex rallied over 200 points in morning trade on Tuesday led by gains in Power, FMCG, capital goods and banks on the back of positive cues from global peers.
•After rising 5 per cent in the last few sessions, the Brent crude registered its biggest decline in the last seven weeks on some concerns supply fears from Iraq eased.
•The 30-share index was at 25,240.17, up 208 points or 0.83 per cent. It touched intraday high of 25,243.39 and a low of 25,115.83 in trade today.
•Shares in Bajaj Hindusthan Ltd gain 10 percent after the company said on Monday that it repaid foreign currency convertible bonds aggregating to $17.7 million.
•The repayment, coupled with the government's move to raise the import duty on sugar, has created positive sentiment in the counter, dealers said.
•The food minister said on Monday that India will raise its import duty on sugar to 40 percent from 15 percent, as the government tries to revive business at mills that owe farmers around $1.84 billion.
•Bajaj Hindusthan up 9.39 percent at 32.05 rupees at 0359 GMT.

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Latest Stock Tips & Mid Market Updates

The S&P BSE Sensex was down 136.65 points or 0.54% to 24,968.86. The index shed 209.92 points at the day's low of 24,895.59 in afternoon trade, its lowest level since 5 June 2014.
Shares of sugar companies surged in trade after the government announced various measures to help the sector.
Indian shares fall nearly 1 percent, heading towards their lowest close since June 4, as index heavyweight ITC slumps on tax hike worries while the Iraq conflict and foreign investor sales-led risk aversion also weight.

India's biggest cigarette manufacturer ITC Ltd slumps 5.5 percent on a media report that government may raise taxes on cigarettes aggressively in the upcoming budget in July, dealers say. 

Among other blue-chips, Kotak Mahindra Bank is down 3.8 percent while Infosys falls 2.8 percent. 

The market breadth indicating the overall health of the market was negative. On BSE, 1,482 shares fell and 1,324 shares rose. A total of 110 shares were unchanged.

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Morning Stock Market Tips and Updates by CapitalHeight

The market has opened in green. The Sensex is up 50.01 points at 25155.52 and the Nifty is up 2.80 points at 7514.25. About 508 shares have advanced, 134 shares declined, and 23 shares are unchanged.

India's metal shares gain on hopes of better demand after a preliminary HSBC survey showed activity in China's factory sector expanded in June for the first time in six months as new orders surged.

Tata Steel gains 0.7 percent while Hindalco Industries is up 0.3 percent.

Shares of the companies whose business is related to railways, cement stocks and steel stocks will be in focus after the government revised passenger fare and freight rates on Friday

Cipla, ONGC, Tata Power, HDFC and Bajaj Auto are top gainers in the Sensex. Among the losers are ITC, GAIL, Reliance, Infosys and HDFC Bank.

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Stock Market Forecast for the Next Week

Indian shares are expected to remain range bound next week as investors await clarity on monsoon and upcoming budget before taking fresh positions amid Iraq conflict led risk aversion.

Stocks linked to monsoon driven rural sectors such as Mahindra and Mahindra and Hero MotoCorp, Dabur India and Hindustan Unilever, shares would be on watch.

The monsoon has covered half of India's landmass four days behind the usual schedule, failing to recover from a late start that has slowed sowing of summer crops in a country where half of the farmland still lacks irrigation.    

 Oil held near $115 a barrel on Friday, close to a nine-month high, and was headed for its second weekly gain on increased risks of disruption to supply from Iraq.

News flow on gas pricing and power sector reforms would also be on watch. 

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