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Last Updated : Mar 18, 2019 08:47 AM IST | Source: Moneycontrol.com

Market Headstart: Nifty likely to open higher; Karnataka Bank, Sundaram Fastners top buys

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 18.5 points or 0.16 percent. Nifty futures were trading around 11,492-level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is expected to open higher on Monday following positive trend seen in other Asian markets. The index closed 83 points higher at 11,426 on Friday.

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 18.5 points or 0.16 percent. Nifty futures were trading around 11,492-level on the Singaporean Exchange.

US stocks rose on Friday, led by technology companies, as a report on progress in US-China trade talks lifted sentiment, pushing the S&P 500 to its best week since November, said a Reuters report.

Close

Asian share markets crept ahead on Monday while bonds were in demand globally on speculation the US Federal Reserve will sound decidedly dovish at its policy meeting this week, it said.

Rising for the fifth straight session, the rupee Friday jumped 24 paise to close at 69.10 against the US dollar on sustained foreign fund inflows and heavy buying in domestic equities.

Stocks in news:

Mindtree has called for a board meeting next week to consider share buyback amid the speculations about L&T Infotech taking over the company.

Private sector lender Lakshmi Vilas Bank Saturday said it has raised Rs 459.59 crore through qualified institutions placement (QIP).

Drug major Lupin on March 16 said it has been cautioned by the US health regulator that its New Jersey facility may be subject to regulatory or administrative action and that it may withhold approval of any pending applications or supplements in which this facility is listed.

Technical Recommendations:

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

Karnataka Bank: Buy| LTP: Rs. 127.75| Target: Rs 138| Stop Loss: Rs 122.40| Upside 8%

Sundram Fasteners: Buy| LTP: Rs. 547.35| Target: Rs 615| Stop Loss: Rs 508| Upside 12%

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 Mar 18, 2019 08:41 am
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