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US markets closed with gains of 0.42-0.45 percent, up for 4th day in a row, on Wall Street last night. Trade in Asia is mostly sideways with the Shanghai Index falling about 1.5 percent in late morning deals despite a strong 10.6 percent growth in Chinese Retail Sales in June. The Commodity space has also not given any strong cues, with both Gold and Crude Oil Futures trading flat.
Foreign institutional investors were net buyers to the tune of 270 crore rupees in the cash market on Monday compared with a sale of 131 crores from domestic players. On the derivatives side, 889 crore rupees worth Index futures were purchased and 912 crore rupees worth of Index options were bought, mostly as covering of open call positions and hedging of portfolios by buying Index puts.
Traders and investors will pay attention to Tuesday's Earnings list, which is headed by media giants Zee Entertainment and HT Media.
STOCKS TO WATCH:
LARSEN & TOUBRO: CLSA maintains its `Buy' rating on the engineering giant and raises its price target to `2,275 from `2,100.
MARUTI: Credit Suisse maintains its `Outperform' rating on Maruti and raises its price target to `5,100 from `4,370.
BHARTI INFRATEL: Nomura upgrades its rating to `Buy' from `Neutral' on the tower infrastructure company. Raises target to `480 from `350.
TITAN: CLSA maintains its high conviction `Sell' on the jewellery maker and sets a price target at `315.
STATE BANK OF INDIA: BoFA ML cuts its price target on the lender to `375 from `400 while maintaining a `Buy' on the stock.
CIPLA: Promoters clarify that they are not divesting or selling the pharma giant.
TATA MOTORS: Sales of Jaguar and Land Rover vehicles in China hit a hurdle
(Image credit: Indiatimes)