Nifty Hovers Around 8200, Pharma, Energy Up

The market has opened flat with negative bias. The Sensex is down 64.85 points or 0.2 percent at 26698.61, and the Nifty down 13.05 points or 0.2 percent at 8190.55. About 387 shares have advanced, 311 shares declined, and 38 shares are unchanged. For more information visit  www.marketmagnify.com/stock-cash-tips.php

          BHEL, Coal India, Adani Ports, ONGC and NTPC are top gainers in the Sensex while Infosys, M&M, Hero MotoCorp, ICICI Bank and Axis Bank are losers.
          Monsoon rains in India were 18 percent below average in the week to June 8, the weather office said on Thursday, as the onset of rainfall was delayed by nearly a week from its usual arrival on June 1
      Perception about India has changed and it is now on high priority of various countries, said Finance Minister Arun Jaitley who was the chief guest at the tenth edition of the CNN-News18 Indian of the Year award ceremony.
      Although the possibility of Sensex 22,000 remains real, it is no longer our base case scenario, thanks to the firefighting done by the RBI and the Banks Board Bureau," Ambit said in a note.
      On RBI Governor Raghuram Rajan's extension, he says a decision not to renew Rajan would create a lot of unhelpful noise, though in Greed & fear's view it would be a negative for the currency but an initial positive for the stock market since it would mean easier monetary policy.
      The Indian market is a "good place to be" but valuations are at a 50 percent premium besides the economy facing some problems with policy execution and some sectors facing deep stress, says Archie Hart of Investec.
           CLSA believes that Vedanta’s capex is set to remain low, which together with higher operating cash flows will drive strong free cash generation and meaningful deleveraging over FY17-19. It sees Vedanta’s consolidated net debt to halve from USD 4.5 billion in FY16 to USD 2.1 billion by FY19.