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Last Updated : Jun 07, 2019 03:28 PM IST | Source: Moneycontrol.com

Market Headstart: Nifty may open lower; Wockhardt, Shriram Transport top sell ideas

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 26 points or 0.22 percent. Nifty futures were trading around 11,857-level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is likely to open flat-to-lower on Friday following muted trend seen in other Asian markets as investors waited for concrete signs of progress in the U.S.-Mexican trade standoff.

Wall Street’s main indexes closed higher after a choppy session on Thursday as investors grew more optimistic on trade after reports that the United States is considering a delay in imposing tariffs on Mexican imports, said a Reuters report.

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 26 points or 0.22 percent. Nifty futures were trading around 11,857-level on the Singaporean Exchange.

Close

The Indian rupee recouped most of its early losses and closed marginally lower at 69.28 to the US dollar after the Reserve Bank in a widely expected move cut key interest rates by 0.25 percentage point.

On the institutional front, FPIs were net sellers in Indian markets for Rs 1448 crore while DIIs were net sellers to the tune of Rs 650 crore, provisional data showed.

Stocks in news:

Wipro: Company appointed Azim Premji as Non-Executive Director for 5 years and re-appointed Rishad Premji as Whole-Time Director. Azim Premji to retire from his current position as Executive Chairman & MD.

The National Consumer Disputes Redressal Commission has asked real estate giant Unitech to refund over Rs 53 lakh to two home buyers for failing to hand over the possession of an apartment.

Infrastructure major Larsen and Toubro on Thursday acquired 25,000 equity shares of Mindtree Ltd, taking its total holding to 28.9%, as per a regulatory filing.

Technical Recommendations:

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

Hindustan Unilever: Buy| Target: Rs 1939| Stop Loss: Rs 1791| Upside 5%

Wockhardt Jun Futs: Sell| Target: Rs 364| Stop Loss: Rs 398| Downside 6%

Shriram Transport Finance Jun Futs: Sell| Target: Rs 1007| Stop Loss: Rs 1103| Downside 6%

Disclaimer: The views and investment tips expressed by investment expert 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 Jun 7, 2019 08:44 am
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