What goes up and down Today

News & Market Impact

• Singtel to Sell Bharti Airtel Stake: $1 billion block deal at ₹1,800/share; CMP ₹1,860.
• FIIs: Net buyers over ₹5,000 Cr Friday; YTD inflows ~$3B in May.
• Global Cues: US markets closed higher on rate cut hopes; 10-yr yield fell 12 bps to 4.42%.
• Moody’s Downgrade: US rating cut to Aa1 from AAA; US futures, Asia weak in reaction.
• SC Verdict Today: Vodafone Idea case; high-impact watch.
• Key Results Announced: Godrej Industries, JSW Energy, LIC Housing, ITC Hotels, South Indian Bank, Page Inds, Global Health – all reported strong numbers.
• Today’s Results Focus: Power Grid, BEL, DLF, PI Industries, Petronet LNG, Redington, Eris, IRB Infra, Karur Vysya, Jupiter Wagons, BHEL, Emami.
• Stocks to Watch: BHEL, M&M, Ircon, Solar Inds, Mphasis, ITC Hotels, Data Patterns, Niva Bupa, HAL, GMR Airport, Midhani.

📈 Sectoral Outlook

• Defence 🔧: Positive – Strong order books, upbeat results; continue rally (HAL, Midhani, Data Patterns).
• Railways 🚆: Attractive after dip + govt orders; Ircon, Jupiter Wagons in focus.
• Textiles 🧵: Positive – Import restriction on Bangladesh boosts local firms.
• Metals ⛓️: Bullish – LME gains + USD index drop + easing US-China tensions.
• Power & Distribution ⚡: Positive after solid Tata Power Q4; watch BEL, PowerGrid.
• Exchanges 📊: Rise in retail activity supports gains; MCX, BSE in spotlight.
• Fertilizer & Tractor 🚜: Early monsoon (IMD) lifts outlook; M&M, Dhanuka Agritech.
• PSU Banks 🏦: Positive – Rate cut hopes + strong earnings (LICHFL, Karur Vysya).

🌏 Global & Commodities

• US Futures: Down up to 1% on Moody’s downgrade, deficit concerns.
• Gold: +2% to $3,234/oz – Safe-haven demand rises post downgrade.
• Oil: Brent > $65 – U.S.-China peace supports; offset by Iran, OPEC+ supply.
• Asian Markets: Weak – US rating cut weighs on materials, machinery.

📉 Technical Levels

• Nifty: Hold above 24,900 for rally to 25,200–25,400; Support: 24,850/24,700.
• Bank Nifty: Above 55,000 = bullish to 55,750–56,000; Support: 55,000/54,750.

💹 Brokerage Radar

• HAL: Jefferies TGT ₹6,475
• Kaynes Tech: Morgan Stanley TGT ₹6,155
• Neuland Labs: Goldman Sachs TGT ₹14,775
• LIC Housing: CLSA TGT ₹720, Jefferies ₹700
• Apollo Tyres, NCC, eClerx, PB Fintech, IndusInd Bank – all receive upgraded targets.

🗓️ Key Events Today

• SC verdict: Vodafone Idea case
• Zydus Wellness board meet: Stock split
• US President on Russia-Ukraine ceasefire
• US Fed officials’ statements