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Last Updated : Dec 09, 2019 01:24 PM IST | Source: Moneycontrol.com

Market Headstart: Nifty seen opening higher; Kalyani Steels, Lupin top buys

Trends on SGX Nifty indicate a positive opening for the broader index in India, with a 16 points gain. Nifty futures were trading around 11,934-level on the Singaporean Exchange.


The Nifty is expected to open higher on November 25 following positive trends seen in other Asian markets, despite conflicting commentary on the Sino-US trade dispute.

Trends on SGX Nifty indicate a positive opening for the broader index in India, with a 16 points gain. Nifty futures were trading around 11,934-level on the Singaporean Exchange.

The Sensex fell 215 points to 40,359 and the Nifty closed with losses of 54 points at 11,914 on November 22.

The Indian rupee settled five paise higher at 71.71 against the dollar on November 22, marking its second straight session of gains. Forex traders said the domestic currency traded in a narrow range amid lack of cues on the domestic front.

Close

Foreign institutional investors (FIIs) bought shares worth Rs 305.72 crore, whereas domestic institutional investors (DIIs) sold shares worth Rs 177.37 crore in the Indian equity market on November 22, provisional data available on the NSE showed.

Stocks in news:

Ace investor Ashish Kacholia bought 218,000 shares of plastic molded luggage manufacturer Safari Industries at Rs 550 per share on the BSE, as per the data available on the exchange.

State Bank of India (SBI) on November 22  said it has raised Rs 3,813.60 crore through perpetual bonds to fund its business growth.

Edelweiss Financial Services Ltd (EFSL) on November 24, 2019 said the public issue of secured redeemable non-convertible debentures (NCDs) by its non-banking finance company arm, ECL Finance (ECLF), aggregating up to Rs 500 crore, has been fully subscribed.

Technical Recommendations:

We have collated recommendations from Angel Broking and here’s what they have to recommend:

Kalyani Steels: Buy | LTP: Rs 224.45 | Target: Rs 260 | Stop Loss: Rs 206| Upside 16%

Lupin: Buy | LTP: Rs 771.90 | Target: Rs 824 |Stop Loss: Rs 748| Upside 7%

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 25, 2019 08:12 am
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