Indian Stock Market News, Nifty above 8650

Sensex, Nifty open flat; Sun Pharma, Maruti, SBI early gainers. For more market update visit www.marketmagnify.com/freetrial.php & give a missed call @ 78-79-88-11-22.

• The market has opened flat with subdued global cues. The Sensex is up 12.99 points at 28016.11 and the Nifty is up 2.20 points at 8638.75. About 526 shares have advanced, 225 shares declined, and 53 shares are unchanged.
• Sun Pharma, Maruti, Lupin, SBI and L&T are top gainers while ICICI Bank, HDFC, Infosys, wipro and Hero are among losers in the Sensex.
• The Indian rupee opened marginally lower at 66.78 per dollar on Tuesday versus previous close 66.74.
  Tata Motors reported a 7.48 percent increase in total sales at 43,160 units in July.
  Domestic sales of Tata Motors' commercial and passenger vehicles grew 8 percent to 37,789 units in July over the same month of the previous year.
•   Results today: Voltas , Indian Bank , Torrent Power , JM Financial , Alicon Castalloy, Apple Credit Corporation, Ashish Polyplast, Century Plyboards (India), Cybertech Systems, Digjam, EIH, Gujarat Sidhee Cement, HEG, MP Agro Industries, Mahamaya Steel Industries, Modella Woollens, Precot Meridian, Pudumjee Industries, Summit Securities, Tata Investment Corporation, TCI Developers, TCI Industries, Ugar Sugar Works, UFO Moviez, Veto Switchgears, Wonderla Holidays, Zydus Wellness

Nifty Hits 8700 for 1st Time Since April 16, 2015

Nifty hits 8700, Sensex strong ahead of GST meet; Hero up 6%. For more information visit  www.marketmagnify.com/freetrial.php & give missed call @ 78-79-88-11-22.

BHEL, Bajaj Auto, Tata Steel, L&T and ONGC are top gainers while ICICI Bank, Infosys and Lupin are major losers in the Sensex.
      The market has opened on a strong note with the Nifty rushing towards 8700. The 50-share index is up 16.00 points or 0.2 percent at 8654.50. The Sensex is up 71.05 points or 0.3 percent at 28122.91. About 448 shares have advanced, 113 shares declined, and 45 shares are unchanged.
Hero MotoCorp is up 6 percent, Bharti Airtel, BHEL, Tata Steel and ONGC are top gainers. ICICI Bank is down 2 percent.
          The Indian rupee gained in the early trade on Monday. It opened higher by 22 paise at 66.80 per dollar versus 67.02 Friday.
      Investment tips: 6 stocks you can buy, sell post June results

• L&T 
• ICICI Bank
• Nestle
• Godrej Consumer
• Kansai Nerolac
• KEC International

SEBI Steps Up L'affaire Mallya Probe; to Seek Overseas Help

The market has opened at new 2016 high while the midcap index is at 11-month high. The Sensex is up 368.52 points or 1.4 percent at 27495.42, and the Nifty is up 104.45 points or 1.2 percent at 8427.65. About 932 shares have advanced, 111 shares declined, and 36 shares are unchanged. For more information visit www.marketmagnify.com/stock-option.php

      ICICI Bank, BHEL, Tata Motors, Bharti and L&T are top gainers. The Indian rupee gained in the early trade. It has opened higher by 24 paise at 67.12 per dollar versus 67.36 Friday.

      Road Transport and Highways Minister Nitin Gadkari will invite investments in ports, ship building and coastal economics zones during his week long visit to the US. "Indo-US cooperation in the vital infrastructure sector will get a new impetus when (the minister) holds official talks with his counter-part US Secretary of Transportation, Anthony Foxx in Washington today, on a wide range of projects of mutual interest", an official statement said.

           In mounting troubles for embattled Vijay Mallya, markets regulator Sebi has stepped up its probe into alleged fund diversion from his erstwhile listed group firms to other entities, including some abroad and his various sport ventures. With the latest disclosures taking total suspected fund diversion at United Spirits alone to over Rs 2,500 crore, Sebi is also referring to the matter for further action by other agencies including SFIO (Serious Fraud Investigation Office) under the Corporate Affairs Ministry, a top official said.

          Private sector HDFC Bank plans to focus on digital platforms in rural and semi-urban markets to achieve sustained growth in the coming years.

       The Gujarat government is conducting a social impact assessment for acquisition of about 33 hectares of land in three villages of Vadodara for the expansion of Indian Oil Corporation 's refinery here.

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Market Outlook:-
Equity benchmarks started off Thursday's trade on a positive note, continuing upside for third consecutive session. The Sensex rose 138.25 points to 26019.42 and the Nifty climbed 31.55 points to 7966.45. 

L&T shares rallied 9 percent in early trade as brokerages turned bullish on the stock after better-than-expected earnings in January-March quarter. Citi has upgraded the stock to buy from neutral and target price raised to Rs 1,640 from Rs 1,230 apiece.

Tata Steel fell nearly a percent after reporting a loss of Rs 3,279 crore in Q4.

The rupee weakened initially but recovered on the back of a bounce back in stock markets and large custodial inflows.

Oil prices gained in the US session after US government data showed a larger-than-expected drop in crude inventories. 

Shares of VRL Logistics today plunged by over 12 percent on BSE amid worries over its promoters' proposed investment in regional airline venture and its impact on the firm's balancesheet. Yesterday, the stock tumbled by 18 percent.