Moneycontrol Be a Pro
Get App
Last Updated : Oct 18, 2019 04:26 PM IST | Source: Moneycontrol.com

Market Headstart: Nifty likely to open lower; LIC Housing Finance, Just Dial top buys

FIIs have been net buyers for the past four trading sessions and have poured in more than Rs 2,000 crore in Indian equity markets since October 11, provisional data showed.

The SGX Nifty is signalling at a negative start for the Indian market on October 18 even as most Asian peers are in the green after the United Kingdom and the European Union agreed on a new Brexit deal.

Concerns about the Chinese economy are likely to cap gains with data expected to show weaker growth.

Around 07:30 hours IST, Nifty futures on the Singapore exchange was 32 points, or 0.28 percent, down at 11,573.

Close

MSCI's broadest index of Asia-Pacific shares outside Japan was up about 0.1 percent in early trade, echoing the Wall Street's small gains.

The Dow Jones Industrial Average gained 0.09 percent to 27,025.88, the S&P 500 finished up 0.28 percent at 2,997.97, and the Nasdaq Composite rose 0.4 percent to 8,156.85.

Oil was mixed ahead of the China data, with the US crude up 0.1 percent to $53.99 a barrel, but Brent crude easing by 0.13 percent to 59.83 percent.

On October 17, the S&P BSE Sensex rose 453 points to 39,052 while the Nifty50 closed 122 points higher at 11,586, just a shade below 11,600 levels.

Investors' wealth, in terms of the average market capitalisation on the BSE, rose by Rs 1.57 lakh crore on October 17 to Rs 147.88 lakh cr compared to Rs 146.31 lakh cr seen on October 16, BSE data showed.

Indian rupee ended at the day's high level at 71.16 per dollar on October 17, supported by buying seen in the domestic equity market after the Brexit deal.

Foreign institutional investors (FIIs) net-bought shares worth Rs 1,158.63 crore while domestic institutional investors (DIIs) sold shares worth Rs 511.76 crore in the Indian equity market on October 17, as per provisional data available on the NSE.

FIIs have been net buyers for the past four trading sessions and have poured in more than Rs 2,000 crore in Indian equity markets since October 11, provisional data showed.

Stocks in news

Automotive Stampings appoints Jitendraa Dikkshit as the chief executive officer of the company w.e.f. October 17.

NOCIL starts trial runs at its Dahej, Gujarat plant.

Alicon Castalloy signs multi-year contracts aggregating Rs 810 crore with leading Global OEMs.

Cyient Q2: Consolidated net profit up 8.5 percent at Rs 97.5 crore versus Rs 89.9 crore, revenue up 6.4 percent at Rs 1,158.9 crore versus Rs 1,089 crore, QoQ.

Results on October 18

Reliance Industries, Ambuja Cements, ICICI Lombard, L&T Finance Holdings and L&T Technology Services are among the companies that will release their September quarter numbers on October 18.

Technical Recommendations

We spoke to IndiaNivesh Securities Limited and here’s what they have to recommend:

LIC Housing Finance: Buy | CMP: Rs 381 | Target: Rs 415 | Stop Loss: Rs 355 | Upside 9 percent

Just Dial: Buy | CMP: Rs 605 | Target: Rs 645 | Stop Loss: Rs 570 | Upside 6 percent

Blue Star: Buy | CMP: Rs 827 | Target: Rs 915 | Stop Loss: Rs 760 | Upside 10.64 percent

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.
First Published on Oct 18, 2019 08:20 am
Loading...
Sections
Follow us on
Available On
Trusted By 1cr Families
Medlife Health Comes Home