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Last Updated : Jun 11, 2019 08:36 AM IST | Source: Moneycontrol.com

Market Headstart: Nifty likely to open higher; Apollo Hospitals, Bata India top buys

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 23 points or 0.19 percent. Nifty futures were trading around 11,966-level on the Singaporean Exchange.

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The Nifty50 is expected to open higher on Tuesday following positive trend seen in other Asian markets which were trading higher after the Trump administration shelved plans for tariffs against Mexico, lifting Wall Street.

However, fresh U.S. trade threats against China are expected to limit any major investor sentiment boost, said a Reuters report.

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 23 points or 0.19 percent. Nifty futures were trading around 11,966-level on the Singaporean Exchange.

Close

The S&P BSE Sensex rose 168 points to 39,784 while the Nifty50 rallied 52 points to close at 11,922 on Monday.

The rupee surrendered all its early gains and closed 19 paise lower at 69.65 against the US dollar on June 10 amid strengthening of the greenback against Asian currencies and rising crude oil prices.

Stocks in news:

Dewan Housing Finance Corp Ltd (DHFL) said it has paid the interest and principal on certain debt instruments that was due on Monday and completed the stake sale in Aadhar Housing Finance Ltd to an entity backed by Blackstone Group LP.

Ajai Kumar, a non-executive director of Yes Bank who served as the bank's interim MD and CEO for one month after Rana Kapoor's exit, has resigned from the board due to personal reasons, the lender said on June 10.

Pharmaceutical major Cipla has on June 10 received the establishment inspection report (EIR) from the USFDA for its Kurkumbh manufacturing site in Maharashtra.

Technical Recommendations:

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

Tata Steel Ltd: Sell Jun Futures| Target: Rs 465| Stop-Loss: Rs 504| Downside 5.5%

Bata India Ltd: Buy| Target: Rs 1500| Stop-Loss: Rs 1375| Upside 6%

Apollo Hospitals Enterprise Ltd: Buy| Target: Rs 1480| Stop-Loss: Rs 1330| Upside 7.2%

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 Jun 11, 2019 08:34 am
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