Zinc ended positive benefited from arbitrage buying from China.
Copper ended positive on strength in equities markets, but investor interest was subdued as wide
Crude gained as Wall Street lent support with some robust quarterly reports that raised hopes for oil demand going forward. Meanwhile, the International Energy Agency said China has become the world's biggest energy user, surpassing the US last year. China consumed 2.25 billion tons of oil equivalent last year, about 4% more than the US. Now support for the crude is seen at 3533 and below could see a test of 3498. Resistance is now likely to be seen at 3630, a move above could see prices testing 3692.
Silver fell leading the precious metals lower on a lack of interest in refuge assets amid stabilizing markets elsewhere. Traders were also likely cashing out of silver to make a profit, as the metal remains within striking distance of recent highs. Silver opened at 28739, before achieving a high of 28829. The commodity was later impaired, triggering latent stops, to a low 28486 after stalking gold lower. The metal mobilized a close of 28573, taking a cue from recuperating base metals. Now support for the silver is seen at 28430 and below could see a test of 28286. Resistance is now likely to be seen at 28773, a move above could see prices testing 28972.
Gold fell as stability in other markets reduced the demand for an alternative asset.
New Delhi, July 20 : Low-budget satire "Tere Bin Laden" that released Friday, grossed over Rs 500 million in its opening weekend and gave tough competition to the Sanjay Dutt-Bipasha Basu starrer "Lamhaa" and first time director Vikramaditya Motwane's "Udaan" that also released on the same day.ICICI Securities has maintained its BUY call on IDFC First Bank with a revised 12-month target price of Rs 95, down from Rs 100, implying about 32% upside from the current market price of Rs 72.
News in Focus
Deven Choksey Research has maintained its BUY rating on HDFC Bank with a target price of Rs 981, implying about 43% upside from Rs 688.
Anand Rathi Research has maintained its BUY call on DCB Bank with a 12-month target price of Rs 312, implying about 56% upside from the Rs 200 share price.
Featured, India Business, Analyst View, Stock Markets, Godrej Properties, India, Motilal Oswal, Real Estate
Motilal Oswal Financial Services has reiterated its BUY call on Godrej Properties with a target price of Rs 2,200, implying about 47% upside from the current market price of Rs 1,498.
Featured, India Business, Analyst View, Stock Markets, Hotels Sector, ICICI Direct, India, ITC Hotels
ICICI Securities has maintained its BUY call on ITC Hotels with an unchanged 12-month target price of Rs 220, implying about 29% upside from the current market price of Rs 170.
Featured, India Business, Analyst View, Emkay Global, India, Insurance Sector, Nippon Life, Personal Finance
Emkay Global Financial Services has reiterated its BUY call on Nippon Life India Asset Management with an unchanged September 2027 target of Rs 1,300, about 33% above the current price of Rs 976.
Main Regional Stories
Emkay Global Financial Services has reiterated its BUY rating on IndusInd Bank, trimming its 12-month target price by 12.5% to Rs 1,050 from Rs 1,200, which implies about 25.7% upside from the current market price of Rs 835.
Advanced Micro Devices declined nearly 12 percent during the trading session as Intel declined 30 percent. AMD was down during premarket but the stock slipped further during the trading session.
Intel shares fell as much as 30% in early trading Friday, wiping out more than $125 billion in market value and putting the chipmaker on course for its worst session since 1974.
Featured, India Business, Analyst View, Stock Markets, Finance Sector, India, Motilal Oswal, Shriram Transport Finance
Motilal Oswal Financial Services has reiterated its BUY call on Shriram Finance with a target price of Rs 1,155, about 33% above the Rs 867 share price. The September quarter was mixed.
