Trends on SGX Nifty indicate a positive opening for the index in India, with a 108 points, or 0.89 percent, gain
Nifty is likely to open with a gap on the upside reclaiming 12,100-levels on January 9, tracking gains in the global markets after the United States and Iran backed away from the brink of further conflict in the Middle East.
S&P 500 and Nasdaq hit record intraday highs, but major indeces cut their gains late in the day following reports of two blasts heard in Baghdad, said a Reuters report.
US President Donald Trump responded overnight to an Iranian attack on US forces with sanctions, not violence. Iran offered no immediate signal it would retaliate further to a Jan. 3 US strike that killed one of its senior military commanders, it said.
Trends on SGX Nifty indicate a positive opening for the index in India, with a 108 points, or 0.89 percent, gain. The Nifty futures were trading around 12,176-level on the Singaporean Exchange.
Let’s look at the final tally on D-Street on January 8 – the S&P BSE Sensex fell 51 points to 40,817 while the Nifty50 closed with losses of 27 points at 12025.
Sectorally, the action was seen in telecom, IT, and banking stocks while profit-taking was recorded in capital goods, energy, oil & gas, and metals.
The Indian rupee retrieved early losses to settle 12 paise higher at 71.70 against the US dollar, but overall forex market sentiments remained subdued amid further escalation in US-Iran tensions
Foreign institutional investors (FIIs) sold shares worth Rs 515.85 crore, whereas domestic institutional investors (DIIs) bought shares of worth Rs 748.4 crore in the Indian equity market on January 8, provisional data available on the NSE showed.
Aster DM Healthcare: Board meeting will be held on January 9 to consider share buyback.
Vedanta: Board approved raising up to Rs 2,000 crore via NCDs.
Bharti Airtel QIP launched, fixed a floor price of Rs 452.09 per share
We spoke to Bonanza Portfolio Ltd and here’s what they have to recommend:
Phillips Carbon Black | Buy | LTP: Rs 125.15 | Target: Rs 137 | Stop loss: Rs 119 | Upside: 9.46%
Jubilant Foodworks | Buy | LTP: Rs 1,731 | Target: Rs 1,880 | Stop loss: Rs 1,640 | Upside: 8.60%
DCB Bank | Buy | LTP: Rs 188.40 | Target: Rs 205 | Stop loss: Rs 179 | Upside: 9%Disclaimer: The views and investment tips expressed by investment experts 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.