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Last Updated : Nov 27, 2019 02:04 PM IST | Source: Moneycontrol.com

Market Headstart: Nifty seen opening flat; HDFC, Power Finance top buys

Trends on SGX Nifty indicate a flat opening for the broader index in India, with a 2 points gain or 0.02 percent. The Nifty futures were trading around 11,945-level on the Singaporean Exchange.

The Nifty50 is expected to open flat on Monday following mixed trend seen in other Asian markets.

Trends on SGX Nifty indicate a flat opening for the broader index in India, with a 2 points gain or 0.02 percent. The Nifty futures were trading around 11,945-level on the Singaporean Exchange.

The rupee appreciated by 18 paise to close at 71.78 against the American currency on Friday, extending gains for a second day on the back of easing crude oil prices and positive trends in equity markets.

Close

On the institutional front, FPIs were net sellers in Indian markets for Rs 1008 cr, while the DIIs were net buyers to the tune of Rs 537 cr, provisional data showed.

Foreign portfolio investors (FPIs) pumped in a net sum of Rs 19,203 crore into the domestic capital markets in the first half of November amid encouraging domestic and global factors.

Stocks in news:

Foreign brokerage firm Nomura Singapore picked up 9,50,000 shares of Eris Lifesciences at the price of Rs 410 per share through a bulk deal on BSE on November 15.

Telecom operator Tata Teleservices (Maharashtra) on November 15 posted a loss of Rs 2,335 crore on account of provisioning for liabilities after the Supreme Court ruling on statutory dues.

Direct-to-home operator Dish TV India Ltd has reported a consolidated net loss of Rs 96.37 crore for the quarter ended on September 30, 2019. The Essel Group firm had reported a net profit of Rs 19.73 crore in the July-September quarter a year ago, Dish TV said in a BSE filing.

ADAG stocks will be in focus follwoing resignation of Anil Ambani as the director of Reliance Communications.

Technical Recommendations:

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

Tata Chemicals Limited: Buy| LTP: Rs 639| Target: Rs 670| Stop Loss: Rs 624| Upside 5%| Initiation range: 635-640

HDFC Ltd: Buy| LTP: Rs 2224| Target: Rs 2280| Stop Loss: Rs 2180| Upside 2%| Initiation range: 2210-2215

Power Finance Corporation Ltd: Buy| LTP: Rs 111.20| Target: Rs 118| Stop Loss: Rs 107| Upside 6%| Initiation range: 110-112

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 18, 2019 08:55 am
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