The Nifty50 is expected to open higher on Monday following positive trend seen in other Asian markets. The index closed 65 points higher at 10,682 on Friday.
Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 53.5 points or 0.5 percent. Nifty futures were trading around 10,751-level on the Singaporean Exchange.
The S&P 500 and Dow Industrials rose on Friday after President Donald Trump said the United States may not have to impose further tariffs on Chinese goods, but falling shares of Nvidia Corp dragged down the Nasdaq, said a Reuters report.
Asian shares inched cautiously higher on Monday amid conflicting signals on the chance of a truce in the Sino-US trade dispute, while a new-found air of concern on the global outlook at the Federal Reserve undermined the dollar, it said.
The rupee on November 16 strengthened further by 4 paise to close at a fresh two-month high 71.93 against the US currency, continuing its gaining streak for the fourth day, despite a rebound in oil prices and a stronger dollar.
Dr Reddy's Laboratories: The pharma major has received zero observations from US FDA for formulations Srikakulum plant in Andhra Pradesh.
Oil India: Board on Monday to consider the proposal for buyback of the fully paid-up equity shares of the company, and issuance of debt securities in domestic/overseas markets.
Jet Airways: Tata Sons said any discussion with the airline company has been preliminary and no proposal has been made.
Technical Recommendations:
We spoke to Chartviewindia.in and here’s what they have to recommend:
Indian Hotels: Buy| LTP: Rs 135.65| Target: Rs 147| Stop Loss: Rs 127| Return 15%
Vodafone Idea: Buy| LTP: Rs 42.90| Target: Rs 49| Stop Loss: Rs 35| Return 16%
Bank of Baroda: Buy| LTP: Rs 115| Target: Rs 126| Stop Loss: Rs 106| Return 10%
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