The Nifty50 is likely to open higher on Monday following positive trend seen in other Asian markets. The index closed 53 points higher at 11,623 on Friday.
A gap-up opening is likely as Nifty Futures on Singaporean Exchange were trading over 47 points higher. The futures traded around 11,723-odd levels.
US stocks ended the final trading day of the first quarter on a strong note on Friday and the S&P 500 posted its best quarterly gain since 2009, boosted by optimism over the latest round of trade talks between the United States and China, said a Reuters report.
Asian stocks rose on Monday, as signs of progress in US-China trade talks and firmer Wall Street shares supported sentiment, although another defeat for British Prime Minister Theresa May’s proposed Brexit deal added to the pound’s recent woes, it said.
The rupee appreciated by 16 paise on Friday to close at 69.14 against the US dollar on persistent foreign fund inflows and heavy buying in domestic equities.
The pilots’ union of Jet Airways said on Sunday that it will give the new management two weeks to clear unpaid salaries, deferring its plan to April 14 to take strike action.
Cipla, on March 31, said it has received eight good manufacturing practices observations from the US health regulator after inspection of Kurkumbh plant, Maharashtra.
India’s first real estate investment trust (REIT), Embassy Office Park REIT, will list on Monday, April 1 on bourses one week ahead of its mandatory listing date. REITs are required to be listed on recognised stock exchange within 12 days of closure of offer.
Technical Recommendations:
We spoke to ICICIdirect.com and here's what they have to recommend:
PVR Limited: Buy| Target: Rs 1805| Stop Loss: Rs 1497| Upside 10%
IPCA Laboratories: Buy| Target: Rs 1080| Stop Loss: Rs 840| Upside – 10%
NBCC: Buy| Target: Rs 80| Stop Loss: Rs 56| Upside – 20%
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