Sensex falls over 100 pts; YES Bank dives 6%, TCS gains 1% 9:23 am Market slips: The Sensex is down 119.48 points or 0.4 percent at 28925.80, and the Nifty is down 47.60 points or 0.5 percent at 8904.90. About 632 shares have advanced, 620 shares declined, and 67 shares are unchanged. YES Bank is down 5 percent while BHEL and Hero MotoCorp are laggards in the Sensex. Among gainers are Bajaj Auto, ONGC, Cipla, M&M and TCS. The Indian rupee fell in early trade Friday for the second consecutive session on recovery in US dollar. The currency has opened at 66.57 per dollar, down 16 paise compared with previous day's closing value of 66.41 a dollar.
Buy, sell or hold: 6 stocks that analysts will focus today IT stocks CLSA retains buy rating on HCL Tech and TCS and outperform on Wipro and Infosys . It has downgraded Tech Mahindra to sell. It expects near-term softness to shave dollar revenue growth by 1-2 percent and earnings by 2-7 percent for FY17-19.
TCS Citi has a sell rating on it with a target at Rs 2447 per share on premium valuations in the sector context.
SAIL Deutsche Bank has a sell rating but raised target by 24 percent to Rs 31 per share. It says Q1 earnings were better than expected but downside risks remain elevated. It adds that the company will need to deliver volume growth of 17 percent during the remainder of FY17. Jefferies maintains underperform rating with target at Rs 32 per share. JP Morgan has a neutral rating on the stock with target at Rs 55 per share.
Investing in stock market is right choice, here how IT stocks buy sell or hold tips provided by analyst. Get free service about equity market tips on mobile with accuracy. JSPL Credit Suisse maintains outperform rating as potential PPA wins could further aid PLF recovery. Q1 EBITDA covered its interest costs.
INTERNATIONAL MARKET UPDATE GOLD $ 1342.95 SILVER $ 19.703, COPPER $313.95, CRUDE OIL $ 47.24, INR 66.531.
MCX SUPPORT & RESISTANCE LEVEL
GOLD JUNE FUTURE R2–31512, R1 -31310, S1-30650, S2-30450, SILVER JULY FUTURE R2 –47910, R1- 47582, S1-46101, S2-45891, CRUDE OIL JUNE FUTURE R2 –3240, R1-3190. S1-3090, S2-3040, COPPER JUNE FUTURE R2 –324, R1-319, S1-311, S2-305.
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