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Last Updated : Jun 28, 2019 08:53 AM IST | Source: Moneycontrol.com

Market Headstart: Nifty likely to open higher; Siemens, Sun Pharma top buys

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 15 points or 0.13 percent. Nifty futures were trading around 11,907-level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is likely to open higher on Friday tracking Asian markets which were trading higher as investors clung on to hopes that a meeting between U.S. President Donald Trump and Chinese President Xi Jinping this weekend could lead to an easing of trade tensions.

The S&P 500 and the Nasdaq closed higher in a broad-based rally on Thursday as investors looked to the G20 summit in Osaka, said a Reuters report. The benchmark S&P 500 snapped its four-day losing streak, closing within 1% of its all-time high, reached a week ago.

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 15 points or 0.13 percent. Nifty futures were trading around 11,907-level on the Singaporean Exchange.

Close

The S&P BSE Sensex slipped 5 points to 39,586 while the Nifty50 closed 6 points lower at 11,841 on Thursday.

The Indian rupee pared initial losses and closed 8 paise higher at 69.07 against the US currency on June 27, supported by easing crude oil prices and weaker greenback.

On the institutional front, FPIs were net sellers while DIIs were net buyers to the tune of Rs 196 cr, provisional data showed.

Stocks in news:

IT services major Wipro June 27 said it has exited its joint venture WAISL by selling its 11 percent shareholding to Antariksh Softtech for Rs 55 lakh.

Travel and tour company Cox & Kings June 27 said it has defaulted on the payment of commercial papers due to cash flow mismatch and a situation exacerbated by rating downgrade.

Lupin: Company gets USFDA tentative approval for generic of Myrbetriq tablets.

Andhra Pradesh based agri-input company KPR Agrochem late evening on June 27 announced withdrawal of its initial public offering from capital market. The IPO issue was to open on June 28 with a price band at Rs 59-61 per share.

Technical Recommendations:

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

Siemens: Buy| Target: Rs 1385| Stop Loss: Rs 1249| Upside 7%

United Spirits: Buy| Target: Rs 622| Stop Loss: Rs 554| Upside 8%

Sun Pharma: Buy| Target: Rs 423| Stop Loss: Rs 393| Upside 5%

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 28, 2019 08:47 am
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