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Last Updated : Sep 19, 2019 10:51 AM IST | Source: Moneycontrol.com

Market Headstart: Nifty likely to open flat; Titan, Jubilant Foodworks top buys

Trends on SGX Nifty indicate a flat to negative opening for the broader index in India, with a 17 points loss or 0.16 percent. Nifty futures were trading around 10,839-level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is expected to open flat on Thursday following a mixed trend seen in other Asian markets after the U.S. Federal Reserve cut interest rates as expected but offered mixed signals on the next easing, keeping investors cautious.

The Fed cut interest rates for a second time this year to 1.75%-2.00% in a 7-3 vote but signalled further rate cuts are unlikely as the labour market remains strong, said a Reuters report.

Trends on SGX Nifty indicate a flat to negative opening for the broader index in India, with a 17 points loss or 0.16 percent. Nifty futures were trading around 10,839-level on the Singaporean Exchange.

Close

The S&P BSE Sensex rose 82 points to 36,563 while the Nifty50 closed 23 points higher at 10,840 on Wednesday.

Snapping its two-day falling streak, the rupee rebounded 54 paise to finish at 71.24 against the US dollar on Wednesday as sliding crude oil prices eased pressure off emerging market currencies

On the institutional front, FPIs were net sellers in Indian markets for Rs 959 cr, while the DIIs were net buyers to the tune of Rs 780 cr, provisional data showed.

Stocks in news:

Laurus Labs: The company will buy pharmacare subsidiary for 75,000 South African rands.

Manappuram Finance: The board of the company will consider raising up to Rs 465 crore on September 23.

Debt-ridden telecom firm Reliance Communications on Wednesday said its subsidiary GCX filed for bankruptcy protection in the US without any prior consent of the company.

Technical Recommendations:

We spoke to Religare Broking Ltd and here’s what they have to recommend:

Titan Company Ltd: Buy| LTP: Rs 1,161| Target: Rs 1,200| Stop-Loss: Rs 1,110| Upside 3%

Jubilant Foodworks Ltd: Buy| LTP: Rs 1,243| Target: Rs 1340 | Stop-Loss: Rs 1,220| Upside 7%

Disclaimer: The views and investment tips expressed by investment expert on Moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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First Published on Sep 19, 2019 08:33 am
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