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Last Updated : Feb 18, 2019 08:26 AM IST | Source: Moneycontrol.com

Market Headstart | Nifty likely to open higher on upbeat Asian market cues

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 16.5 point, or 0.15%. Nifty futures were trading around 10,771-level on the Singaporean Exchange.

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The Nifty50 is expected to open higher on Monday tracking positive trend seen in other Asian markets. The index closed 21 points lower at Rs 10,724 on Friday.

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 16.5 points or 0.15 percent. Nifty futures were trading around 10,771-level on the Singaporean Exchange.

Wall Street rallied on Friday, with the Dow and the Nasdaq posting their eighth consecutive weekly gains as investors grew hopeful that the United States and China would hammer out an agreement resolving their protracted trade war, Reuters reported.

Close

Asian share markets firmed on Monday as investors dared to hope for both progress at Sino-US trade talks in Washington this week and more policy stimulus from major central banks, said the report.

The rupee slipped by 7 paise to close at 71.23 against the US dollar Friday, pressured by heavy foreign capital outflows and firming oil prices.

Stocks in news:

The Reserve Bank has warned Yes Bank of regulatory action for disclosure of nil divergence report in violation of the confidentiality clause, the private sector lender said Friday.

Markets regulator Sebi on Friday granted certain exemptions to Wipro from the buyback norms in case of the IT firm's proposed share repurchase programme, according to an order by the watchdog.

State-owned NBCC Ltd on Friday said it has bid to take over bankruptcy-bound Jaypee Infratech and complete stalled housing projects in Noida, Uttar Pradesh.

IT firm Tech Mahindra Saturday said its board will meet on February 21 to consider a share buyback proposal. However, the company did not disclose any other details of the proposal.

Technical Recommendations:

We spoke to Way2Wealth Brokers Pvt. Ltd and here’s what they have to recommend:

Infosys: Buy around 740 – 730| LTP: Rs 741| Target: Rs 800| Stop Loss: Rs 700| Upside 8%

BPCL: Sell around 320 – 325| LTP: Rs 327| Target: Rs 270| Stop Loss: Rs 345| Downside 17%

Maruti Suzuki India Ltd: Sell around Rs 7050 – 7100| LTP: Rs 6925| Target: Rs 6500| Stop Loss: Rs 7330| Downside 6%

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 Feb 18, 2019 08:26 am
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