Trends on the SGX Nifty indicate a muted opening for the broader index in India, with a loss of 14 points
The Nifty is expected to open flat on November 5 despite a positive trend seen in other Asian markets. Wall Street posted record closing highs largely on expectations of a trade deal between the US and China.
Trends on the SGX Nifty indicate a muted opening for the broader index in India, with a loss of 14 points. Nifty futures were trading around 11,970-levels on the Singaporean Exchange.
The final tally on D-Street – the Sensex rose 136 points to end at a record closing high of 40,301 and the Nifty closed 50 points higher at 11,941 on November 5.
The Indian rupee erased most of its morning gains and ended marginally higher at 70.77 per dollar, with buying seen in the domestic equity market for the seventh consecutive day, helping the Nifty to close above 11,900.
On the institutional front, FPIs and DIIs were net sellers in the Indian market to the tune of Rs 138 crore and Rs 500 crore, respectively, provisional data showed.
On the earnings front, as many as 94 companies will declare their results for the September quarter. These include: Ajanta Pharma, Apollo Tyres, Berger Paints, Birla Corporation, Dabur India, Divi's Laboratories, EIH, Gillette India, Godrej Properties, HCL Infosystems, Jindal Steel and Power, Punjab National Bank, Rural Electrification Corporation, Tech Mahindra, Torrent Power and Titagarh Wagons.
Stocks in news:
Ace investor Rakesh Jhunjhunwala bought 1.29 crore shares in private lender Yes Bank on November 4 through open market transactions.
Bajaj Finance: Bajaj Finance is raising funds through a qualified Institutional placement (QIP) on Monday, the company said in a filing to the BSE. The company has fixed the QIP's floor price at Rs. 4,019.78 per share.
Mahindra Logistics on November 4 reported 40.86 percent decline in consolidated net profit at Rs 11.20 crore for the quarter ended September 30, 2019, due to the decline in income.
We spoke to HDFC Securities Ltd and here’s what they have to recommend:
Tata Metaliks: Buy| LTP: Rs 607| Targets: Rs 685| Stop-Loss: Rs 552| Return 13%
Godfrey Phillip: Buy| LTP: Rs 1,103| Target: Rs 1,260| Stop-Loss: Rs 950| Upside 14%
Navin Flourine: Buy| LTP: Rs 891| Target: Rs 1,040 | Stop-Loss: Rs 712 | Upside 16%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.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.