SHARE MARKET TIPS
Nifty above 11,700, Sensex gains 150 pts; IndusInd Bank top gainer
Goldman downgraded Dabur India to sell with a target price of Rs 334, implying 16.66 percent potential downside from current levels as key segments seeing competition is the main reason to sell. Shares fell 6.66 percent on June 18 after the company decided to take exposure to non-convertible debentures of debt-laden Essel Group.
Indian indices erased some of its early gains but trading marginally higher with Sensex holding above 39,000.
At 09:52 hrs IST, the Sensex is up 50.50 points or 0.13% at 39011.29, and the Nifty up 6.30 points or 0.05% at 11678.50. About 709 shares have advanced, 736 shares declined, and 81 shares are unchanged. It is a firm opening for the benchmark indices on June 18 with Nifty around 11,700.
At 09:17 hrs IST, the Sensex is up 114.52 points at 39,075.31, while Nifty is up 33.80 points at 11706. About 403 shares have advanced, 226 shares declined, and 25 shares are unchanged.
IndusInd Bank, Axis Bank, ITC, Maruti Suzuki, Tata Motors, Tata Steel, Zee Entertainment are some of the major gainers on the indices, while losers are SBI, Yes Bank, Indiabulls Housing, HUL, and ONGC.
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