The Nifty50 is likely to open lower on Friday following muted trend seen in other Asian markets. The index closed 53 points higher at 10,791 on Thursday.
Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 42 points or 0.39 percent. Nifty futures were trading around 10,784-level on the Singaporean Exchange.
The S&P 500 finished little changed after a volatile session on Thursday, as investors continued to be spooked by uncertainty on both domestic and international issues, driving up bids for defensive shares while financials and consumer discretionary stocks were the biggest drags.
Asian shares were on the defensive on Friday as investors kept a wary eye on economic tensions between Washington and Beijing while the euro was steady after the European Central Bank halted new bond purchases as expected.
The rupee snapped its three-day losing streak to end 33 paise higher at 71.68 against the US dollar on December 13 amid a weak greenback and softening oil prices.
Stocks in news:
The government is considering additional capital infusion of up to Rs 30,000 crore in public sector banks as they have been unable to raise required funds from the markets, sources said.
Drug maker Lupin said it has received a tentative approval from the US health regulator to market Dimethyl Fumarate delayed-release capsules used to treat multiple sclerosis.
The government is likely to offer its shares in Larsen & Toubro's buyback offer, which is estimated to fetch about Rs 700 crore to the exchequer. The government currently holds 1.8 percent stake in L&T. The share buyback price has been fixed at Rs 1,475 a piece.
Indian Oil Corporation: Board approved the buyback of up to 29.7 crore shares at Rs 149 per share and declared an interim dividend of Rs 6.75 per equity share.
Adani Enterprises: Subsidiary Adani Defence Systems and Technologies Limited acquired Alpha Design Technologies Private Limited for Rs 400 crore.
Technical Recommendations:
We spoke to IIFL and here’s what they have to recommend:
Indiabulls Real Estate: Buy| Target: Rs 89| Stop Loss: Rs 75| Returns 12.5%
Bajaj Finserv Ltd: Buy| Target: Rs 6500| Stop Loss: Rs 5940| Returns 5.5%
Infosys Ltd: Buy| Target: Rs 745| Stop Loss: Rs 673| Returns 7%
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