SHARE MARKET NEWS :- OPENING BUZZ UPDATE

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Rupee opens 6 paise lower at 64.10 against US dollar

The Indian rupee depreciated further in opening trade Tuesday on dollar demand. It started off trade at 64.10 a dollar, down 6 paise compared to previous day's closing of 64.02.

Bhaskar Panda of HDFC Bank said he expects the USD-INR pair to play to global tunes.

The expected range could be 63.95-64.20 per dollar.

News related to North Korea-US spooked Indian currency market in previous session.

Yesterday, the rupee closed 2 paise lower at 64.04 per dollar against Friday's close of 64.02.

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ZINC MARKET NEWS & CALLS UPDATE

SELL ZINC AUG BELOW 199.65 TARGET 199.15-198.65-197.65 WITH SL 201.70

Zinc on MCX settled down -0.27% at 200.25 dropped on profit booking while earlier in the session prices rose to its highest price in a decade as investors ploughed into metals used by China's steel sector, seeing robust demand even as capacity is constrained by Beijing's drive for industry reform. Yesterday LME zinc hit the highest since October 2007 at $3,180.50 a tonne. Zinc prices were also driven by rising expectations of increase in the Chinese infrastructure spending, as stocks at Chinese ports fall for a fourth week.

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Technically market is under long liquidation as market has witnessed drop in open interest by -6.9% to settled at 8020, now Zinc is getting support at 198.6 and below same could see a test of 196.8 level, And resistance is now likely to be seen at 202.8, a move above could see prices testing 205.2.

Trading Ideas:

* Zinc trading range for the day is 196.8-205.2.

* Zinc pared gains on profit booking after prices rose as expectations of a large market deficit this year fuelled speculative buying.

* LME Zinc stocks were at 247,850 tonnes, are down more than 40 %since the start of the year and cancelled warrants at nearly 50 %.

Today's Share Market News - Nearly 70 stocks hit fresh 52-week low today

Nearly 70 stocks, including 3i Infotech, Aarvee Denims & Exports, Ajanta Pharma, Dr. Reddy's Laboratories, Energy Development Company, GTPL Hathway, Housing Development and Infrastructure, JBF Industries , Jindal Photo, Lupin, NDTV, OnMobile Global, Sun Pharmaceutical Industries and Tata Motors hit their fresh 52-week low on NSE in Wednesday's trade. 

However, V2 Retail, Edelweiss Financial Services, Sunteck Realty, Indraprastha Gas, PC Jeweller, Reliance Capital, Mahanagar Gas, Vedanta, Jubilant Food, Landmark Prop, Oil India, JSW Steel, Birla Corporation, Emkay Global and Eastern Silk were among the 17 stocks that hit fresh 52-week high today. 

Sustained selling in bank, pharma, FMCG and auto stocks kept the bourses in the negative zone. 

Select metal and PSU bank stocks were gaining in the trade. 

In the Nifty Metal pack, Tata Steel (down 0.63 %), APL Apollo Tubes (down 0.43 %), JSW Steel (down 0.41 %), Ratnamani Metals & Tubes (down 0.40 %) and Coal India (down 0.29 %) were trading in red. 

Hindalco Industries  (up 2.53 %), Indian Oil Corporation (up 2.15 %), Vedanta (up 2.02 %), NTPC (up 1.90%) and State Bank of India(up 0.91 %) were topping the Nifty chart. 

Benchmark Nifty50 index was 19 points down at 9,960, while the 30-share Sensex was 101 points down at 31,913.

In the Nifty50 pack, 21 stocks were trading in green, while 30 stocks were in red. 

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