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Last Updated : Feb 25, 2019 08:45 AM IST | Source: Moneycontrol.com

Market Headstart: Nifty50 likely to open higher; Oberoi Realty, Sun TV top buy ideas

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 16 points or 0.15 percent. Nifty futures were trading around 10,823-level on the Singaporean Exchange.

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The Nifty50 is expected to open higher on Monday following positive trend seen in other Asian markets. The index closed nearly 2 points higher at 10,791 on Friday.

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 16 points or 0.15 percent. Nifty futures were trading around 10,823-level on the Singaporean Exchange.

The S&P 500 posted its highest closing level since Nov. 8 on Friday as investors clung to signs of progress in the ongoing trade talks between the United States and China, said a Reuters report.

Close

Asian share markets looked well set on Monday after US President Donald Trump confirmed he would delay a planned increase on Chinese imports as talks between the two sides were making “substantial progress”, said the report.

The rupee on Friday gained 10 paise to close at 71.14 against the US dollar on heavy foreign capital inflows after growing expectations that the Federal Reserve would keep the interest rate on hold this year.

Stocks in news:

Motilal Oswal & IIFL Holdings: The Securities and Exchange Board of India (SEBI) has declared the commodity broking arms of Motilal Oswal and India Infoline (IIFL) as 'not fit and proper', as part of the action in the NSEL case.

Jet Airways: Shareholders of distressed airline Jet Airways have approved the resolution plan to rescue the airline, with over 97 percent approval for each of the items.

Wipro Sunday said it has received approval from a majority of its shareholders for the issue of bonus shares and increase in the authorised share capital.

Technical Recommendations:

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

Oberoi Realty: Buy| LTP: Rs 503.10| Target: Rs 570| Stop Loss: Rs 464| Upside 13%

Sun TV Ltd: Buy| LTP: Rs 585.90| Target: Rs 672| Stop Loss: Rs 559| Upside 15%

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their 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 Feb 25, 2019 08:44 am
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