Equity benchmarks erased opening gains due to further selling in technology, oil and select banks stocks. Investors maintained cautious stance ahead of UK elections and Comey testimony. The 30-share BSE Sensex was down 31.13 points at 31,240.15 and the 50-share NSE Nifty fell 12.30 points to 9,651.60. TCS fell 2.4 percent as Nomura downgraded the stock to reduce from neutral, with implied downside of 18 percent, citing mismatch between fundamentals and recent stock price rise. Infosys extended losses, down 1 percent on top of 3 percent correction in previous session on pricing concerns. ITC, Reliance Industries, ICICI Bank, SBI and ONGC were other losers whereas HDFC, HDFC Bank, Tata Steel, HUL, Tata Motors and L&T continued to support the market.
Shares to Buy Today : 8th June Thursday
By keeping an eye on every movement of shares, your investment can be safely done. Here we are talking about such stocks which will remain in the news today and on the look of the market.
ONGC / Oil India / Vedanta – Crude oil has dropped sharply by 5 percent due to a sudden increase in US reserves. The production of crude oil in the US has increased by 3.3 million barrels. Apart from this, production in Libya is also expected, Libya has targeted 12.5 million barrels of oil per day. At present, 8.35 million barrels of oil is being produced in Libya every day. Due to these reports, Brent Crude is trading close to $ 48 and Nymex has slipped below $ 46.
Jet Air / SpiceJet / Indigo / Indian Hotel / Taj GVK – Government will soon announce tourism policy. The hotel, airline companies will benefit from the tourism policy. The government is trying to attract foreign tourists to India. Medical tourism, wellness policy announcement will be on June 21. Airline companies will also benefit from crude oil declines.
Petronet LNG – GDF International will be out of Petronet LNG by selling a part. The block has been launched to sell 10 per cent of the shares. This Deal City, through JP Morgan, will be completed in Rs 3,100-3,300 crores.
Persistent Systems – ICICI Lombard General has bought 7.97 lakh shares in Persistent Systems at a price of Rs 624 per share.
Sainte – Franklin India bought 7.59 lakh shares of the client at a price of Rs 496 per share.