The Nifty50 is likely to open on flat but on largely on the higher side on Friday tracking positive trend seen in other Asian markets. The index closed 129 points higher at 10,858 on Thursday.
Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 13.5 points or 0.12 percent. Nifty futures were trading around 10,929-level on the Singaporean Exchange.
Wall Street closed slightly lower on Thursday as tech and financial shares slumped, erasing earlier gains stemming from Federal Reserve minutes showing the central bank opened the debate on when to pause further interest rate hikes, said a Reuters report.
Share markets ticked slightly lower in early Asian trade on Friday as investors await a closely watched meeting between the Chinese and US presidents in Argentina this weekend for signs of a trade war detente, it said.
NBFC stocks will be in focus after the Reserve Bank of India (RBI) on November 29 relaxed rules for non-banking financial companies (NBFCs) to sell or securitise their loan books, in a bid to ease persistent stress in the sector.
Britain’s biggest carmaker Jaguar Land Rover is to reduce the workforce at its plant in central England, by about 500 in a temporary move, it said on Thursday. About 500 of the factory’s 1,600-strong workforce could be affected at any one time through a two-week period.
UBS on Tata Motors
Maintain Neutral; Cut TP to Rs 200 from Rs 280
Recent sharp deterioration in China volumes has further clouded outlook for JLR
The government is planning to sell at least 3.25 percent stake in power producer NTPC in December, which will help garner Rs 3,800 crore to the exchequer.
SpiceJet: Company gets shareholders' nod to re-appoint Ajay Singh as Managing Director.
Vodafone Idea - CRISIL downgraded its rating on non-convertible debentures of Rs 6,000 crore
Asian Granito's board meeting on December 12 to consider and approve raising of funds of issue of equity shares on preferential basis
Technical Recommendations:
We spoke to Way2Wealth Brokers Ltd and here’s what they have to recommend:
Dr Reddy’s Laboratories Ltd: Buy around 2650 – 2625| LTP: Rs 2652| Target: Rs 2900| Stop Loss: Rs 2520| Return 9%
Berger Paints: Buy above 324| LTP: Rs 319| Target: Rs 350| Stop Loss: Rs 310| Return 10%
Century Textiles Ltd: Sell below Rs 889| LTP: Rs 894| Target: Rs 840 – 810| Stop Loss: Rs 927| Return 9.4%
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