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Last Updated : Nov 22, 2019 01:37 PM IST | Source: Moneycontrol.com

Market Headstart | Nifty may open flat over fears of delay in 'Phase one' US-China trade deal

On the institutional front, FPIs were net buyers in Indian markets for Rs 5,023.54 crore while the DIIs were net sellers to the tune of Rs 247.74 crore, provisional data showed

The Nifty is expected to open flat in morning trade on November 22 amid persistent worries over the status of trade negotiations between the US and China.

Worries that a 'phase one' trade deal between the US and China may not happen until next year weighed on Wall Street, pulling the S&P 500 down 0.16 percent to 3,103.54. The Dow Jones ended 0.2 percent lower at 27,766.29 and the Nasdaq Composite closed 0.24 percent lower at 8,506.21.

Trends on SGX Nifty indicate a flat opening for the broader index in India with a three points loss. Nifty futures were trading around 11,974 on the Singaporean Exchange.

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On November 21, the Sensex fell 76.47 points to 40,575.17 and Nifty ended 30.70 points lower at 11,968.40.

The rupee pared initial losses and settled five paise up at 71.76 against the US currency on November 21 amid softening crude oil prices and weakening of the greenback vis-a-vis other currencies overseas.

On the institutional front, FPIs were net buyers in Indian markets for Rs 5,023.54 crore while the DIIs were net sellers to the tune of Rs 247.74 crore, provisional data showed.

Stocks in news:

Finolex Cables launched the electrical accessories range to fortify its product offering.

Cholamandalam Financial Holdings' independent director Shubhalakshmi Panse has resigned.

Tata Power has raised Rs 1,500 crore via NCDs.

USFDA has issued 3 observations for Laurus Labs' Units 1 and 3 at Vizag.

Technical Recommendations:

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

Eicher Motors: Buy | LTP: Rs 21,940 | Target: Rs 24,000 | Stop Loss: Rs 20,800 | Upside: 9.38 percent

Berger Paints: Sell | LTP: Rs 481 | Target: Rs 435 |Stop Loss: Rs 495 | Downside: 9.56 percent

Bajaj Finance: Sell | LTP: Rs 4,121 | Target: Rs 3,860 | Stop Loss: Rs 4,250 | Downside: 6.3 percent

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.

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First Published on Nov 22, 2019 08:35 am
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