- Despite negative the Nifty almost ended flat and recovered most of the losses that it had made in early trading. Ultratech and other cement companies gained after the rise in cement prices in North India.
- Tata Motors lost another 4% on Tuesday as JLR concerns over falling diesel sales worried the market. Broker are increasingly positive on the stock due to its big alternate energy push to electric cars.
- FIIs were net sellers to the tune of Rs.(-538) crores while DFIs bought Rs.238 crore on Tuesday. Heavy selling in the debt markets was seen in the last few days by FPIs and by domestic mutual funds.
- Global markets were largely mixed with only the NASDAQ showing clear signs of bullishness. The SGX Nifty is also under some pressure and another test of the 10700 levels cannot be ruled out ahead of expiry.
- Tata Motors at Rs.277 appears to be largely underpriced after the positive growth comments and electric plans coming out of the analyst meet. We see targets of Rs.350 in one quarter for the stock. Position accordingly.
- With a massive US market still open for the pharma asking, Lupin at Rs.900 may be best positioned to capture the growth. Buy Lupin with target of Rs.1000 in 2 months. Keep accumulating the stock at dips.
- As of now we are just reiterating our calls on the oil beneficiaries like downstream and paints. We also suggest buying Nifty puts at current levels to protect your portfolio from any sharp corrections in the market.
- While there is normalcy back in the markets, the real challenge will be on the trade war front, where the situation is showing signs of deterioration.
