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Last Updated : Oct 15, 2019 10:46 AM IST | Source: Moneycontrol.com

Market Headstart: Nifty seen opening higher; Britannia, BEL top buys

Trends on SGX Nifty indicate a positive opening for the broader index in India, with a 30 points gain or 0.26 percent. Nifty futures were trading around 11,365-level on the Singaporean Exchange.

The Nifty50 is expected to open higher on October 15, following a positive trend seen in other Asian markets, but gains remain capped ahead of the Brexit summit.

The focus has now shifted to Europe where officials from Britain and the EU will meet at a make-or-break summit on October 16-17 that will determine whether or not Britain is headed for a so-called no-deal Brexit, said a Reuters report.

Trends on SGX Nifty indicate a positive opening for the broader index in India, with a 30 points gain or 0.26 percent. Nifty futures were trading around 11,365-level on the Singaporean Exchange.

Close

The S&P BSE Sensex rose 87 points to 38,214 while the Nifty50 closed 36 points higher at 11,341 on October 14.

The rupee declined by 21 paise to close at a three-week low of 71.23 against the US currency on October 14.

On the institutional front, FPIs were net buyers in Indian markets for Rs 895 crore while the DIIs were net sellers to the tune of Rs 425 crore, provisional data showed.

Stocks in news

FMCG major Hindustan Unilever (HUL) on October 14 reported a 21 percent year-on-year (YoY) jump in its net profit at Rs 1,848 crore for the July-September quarter of FY20 on the back of better volume growth.

Leading stock exchange BSE will suspend trading in shares of as many as 16 firms, including Manpasand Beverages and Binani Industries, from November 4 for not complying with listing norms pertaining to the submission of quarterly financial results, among others.

Betting on India’s clean energy push, French oil and gas major Total SA has acquired a 37.4 percent stake in Adani Gas Ltd, promoted by the Adani Group, for Rs5,662 crore, the company said in a statement on October 14.

Technical Recommendations

We spoke to HDFC Securities, and here is what they recommend:

Bharat Electronics: Buy | LTP: Rs 108.90 | Target: Rs 120 |Stop-Loss: Rs 104 | Upside 10 percent

Britannia Industries: Buy | LTP: Rs 3,107 | Target: Rs 3,310 | Stop-Loss: Rs 2,980| Upside 6 percent

Fine Organic Industries: Buy | LTP: Rs 1,853 | Target: Rs 1,980 | Stop-Loss: Rs 1,800 | Upside 7 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 Oct 15, 2019 08:05 am
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