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Last Updated : Jun 17, 2019 08:43 AM IST | Source: Moneycontrol.com

Market Headstart: Nifty likely to open flat; Wockhardt, PI Industries top buys

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 11 points or 0.09 percent. Nifty futures were trading around 11,842-level on the Singaporean Exchange.

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The Nifty50 is likely to open flat on Monday following a mixed trend seen in other Asian markets. The index closed 90 points lower at 11,823 on Friday.

Wall Street stocks ended lower on Friday as investors turned cautious before this week’s Fed meeting, while a warning from Broadcom on slowing demand weighed on chipmakers and added to U.S.-China trade worries, said a Reuters report.

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 11 points or 0.09 percent. Nifty futures were trading around 11,842-level on the Singaporean Exchange.

Close

The Indian rupee June 14 fell by another 30 paise to close at 69.80 against the US currency as strengthening greenback and rising crude oil prices kept investors cautious.

Foreign investors remained net buyers in the domestic capital markets in June, pouring in a total of Rs 11,132 crore on a net basis this month so far, according to depositories' data.

Stocks in news:

Drug firm Laurus Labs June 14 said the US health regulator has made two observations after the inspection of its Visakhapatnam facility in Andhra Pradesh.

State-owned Punjab National Bank has put on sale six non-performing loans amounting to over Rs 1,000 crore, including two accounts of Vandana Vidyut and Visa Steel.

Aurobindo Pharma Limited will invest up to $200 million on Capex and over five percent of sale value on Research and Development (R&D) during the current financial year, a senior company official has said.

Technical Recommendations:

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

PI Industries Ltd: Buy| Target: Rs. 1170.05| Target: Rs 1250| Stop Loss: Rs 1128| Upside 7%

Wockhardt Pharma: Buy| LTP: Rs 387.25| Target: Rs 424| Stop Loss: Rs 373| Upside 10%

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
First Published on Jun 17, 2019 08:39 am
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