The Nifty50 is expected to open flat on Monday following a mixed trend seen in other Asian markets. Gains were capped largely because of persistent concerns that the China-US trade conflict was fast turning into a technology cold, suggest reports.
Trends on SGX Nifty indicate a negative opening for the broader index in India, a loss of 38 points or 0.32 percent. Nifty futures were trading around 11,839-level on the Singaporean Exchange.
The S&P BSE Sensex rose 623 points to 39,434 while the Nifty50 added 187 points to close at 11,844 on Friday.
The Indian rupee May 24 rallied 49 paise to close at 69.53 against the US dollar in line with a massive surge in domestic equities following a decisive mandate for Narendra Modi's BJP in the general elections.
Foreign investors have pulled out a net amount of Rs 4,375 crore from the Indian capital markets in May so far, driven by global and domestic factors.
Fortis Healthcare has reported a consolidated net profit of Rs 151.19 crore for the quarter ended March, as against a net loss of Rs 914.32 crore in the corresponding period of the previous fiscal.
Infrastructure company PNC Infratech has reported a 25 percent jump in standalone net profit at Rs 139.93 crore for the quarter ended March, helped by higher income.
Indraprastha Gas Ltd, which retails CNG to automobiles in the national capital and adjoining cities, Friday reported a 28 percent rise in its March quarter net profit on the back of higher sales.
Technical Recommendations:
We spoke to Angel Broking and here's what they have to recommend:
HSIL: Buy| LTP: Rs. 286.85| Target: Rs 317| Stop Loss: Rs 269.40| Upside 10%
Raymond: Buy| LTP: Rs 852.20| Target: Rs 938| Stop Loss: Rs 804| Upside 10%
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