INSUBCONTINENT EXCLUSIVE:
India's stock markets opened lower on
Tuesday as the market benchmark index Sensex declined 114 points to open at 35,355.72 points
However, the losses were quickly pared, and the benchmark index retreated to trade in the positive range
At 12.44 pm, Sensex traded 101 points, 0.28 percent, higher at 35,571
(1.59 percent) and HDFC (1.36 percent)
manufacturing exporter, is able to stay resilient amid global trade war tensions
There is still some amount of pressure on midcaps, but the index heavyweights are holding up the markets," said Harendra Kumar, managing
director at Elara Capital
HDFC and cigarette maker ITC rose over 1.2 percent each, driving gains in the indexes
Nifty FMCG index gained over 1 percent and was on track to post gains for a second session in ten.Coal India Ltd and Ultratech Cement Ltd
were among the top gainers on the NSE index, rising over 2.5 percent each.Voltas shares fell as much as 4.2 percent to a near one-year low
following a report of Tata Group exploring options to divest up to 9 percent stake in the company.The Indian rupee (INR) fell on Tuesday by
Five Things To KnowTechnical recommendations:A technical expert Simi Bhaumik recommends 'buy' for HDFC Bank stock near Rs 2,090-2,086 range
with a stop loss at Rs 2,080 with a target of Rs 2104, Rs 2,110 and Rs 2,115
For ICICI Bank scrip, she recommends 'sell' near Rs 290-291 range with a stop loss at Rs 292.50 and targets at Rs 287, 285.5 and Rs
284.International marketsGlobal stocks extended a sell-off on Tuesday as an escalating trade fight between the United States and other major
economies steered investors away from riskier assets, lifting safe-haven U.S
Treasuries and keeping the dollar on the defensive.Markets in China - the epicentre of the trade tensions with the United States - were
Losses across Asian equities were broad-based after Wall Street tumbled overnight, with the SP 500 and Nasdaq suffering their steepest
losses in more than two months overnight.MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.75 percent.Hong Kong's Hang Seng
retreated 1.2 percent, the Shanghai Composite Index slid 1.4 percent and Japan's Nikkei shed 0.5 percent.(With Reuters inputs)
