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Last Updated : Nov 11, 2019 05:35 PM IST | Source: Moneycontrol.com

Market Headstart: Nifty50 seen opening flat; Maruti, Ashok Leyland eyed

Trends on SGX Nifty indicate a flat opening for the broader index in India, with a seven-point loss, or 0.06 percent

The Nifty50 is expected to open flat on November 11, following a muted trend seen in other Asian markets.

Trends on SGX Nifty indicate a flat opening for the broader index in India, with a seven-point loss, or 0.06 percent. The Nifty futures were trading around 11,940-level on the Singaporean Exchange.

The rupee on November 8 tumbled by 31 paise to hit an over three-week low of 71.28 against the US dollar after Moody's Investors Services cut India's rating outlook to negative citing growth concerns.

Close

On the institutional front, FPIs were net buyers in Indian markets for Rs 932 cr, and DIIs were net sellers to the tune of Rs 584 cr, provisional data showed.

Stocks in the news

Maruti Suzuki India (MSI) reduced its production by 20.7 percent in October, making it the ninth straight month when the country's largest carmaker lowered its output.

Realty major DLF's sales bookings rose 16 percent to Rs 1,425 crore during the first six months of this fiscal year, mainly due to demand for its ready-to-move in residential units

India's second-largest commercial vehicle maker Ashok Leyland on November 8 reported a massive 92.6 percent year-on-year (YoY) decline in its net profit at Rs Rs 38.9 crore for the second quarter ended September 30.

Technical Recommendations

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

Tata Steel: Buy | LTP: Rs 397 | Target: Rs 425-440 | Stop Loss: Rs 374 | Upside 10 percent

Alembic Pharma: Buy | LTP: Rs 577 | Target: Rs 648 | Stop Loss: Rs 527 | Upside 12 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 Nov 11, 2019 08:47 am
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