Trends on SGX Nifty indicate a positive opening for the broader index in India, with an 8.5-point gain, or 0.07 percent. The Nifty futures were trading around 11,915-level on the Singaporean Exchange.
The Nifty50 is expected to open flat on December 11, with a positive bias tracking mixed trend seen in other Asian markets as Sino-US trade talks approached a weekend deadline with little sign of progress.
Investors are beginning to suspect that even if US tariffs, due to take effect on December 15, are delayed, it may be 2020 before Washington and Beijing can agree on a broader rapprochement, said a Reuters report.
Trends on SGX Nifty indicate a positive opening for the broader index in India, with an 8.5-point gain, or 0.07 percent. The Nifty futures were trading around 11,915 level on the Singaporean Exchange.
Let’s look at the final tally on D-Street. The S&P BSE Sensex fell 247 points to 40,239 while the Nifty50 closed with losses of 80 points to 11,856.
The rupee settled 12 paise higher at 70.92 against the US dollar on December 10 amid softening crude oil prices and weakening of the greenback vis-a-vis major global currencies.
On the institutional front, FPIs were net sellers in Indian markets for Rs 366 cr while the DIIs were net buyers to the tune of Rs 338 cr, provisional data showed.
Stocks in news:
The board of Yes Bank said on December 10 it was willing to favourably consider the $500 million offer of Citax Holdings and Citax Investment Group.
Telecom operator Bharti Airtel said on December 10 it had sought shareholders' approval for raising $2 billion in equity and another $1 billion in debt to pay for statutory dues arising out of a recent Supreme Court ruling.
Reliance Industries and Abu Dhabi National Oil Company (ADNOC) signed an agreement on December 10 to explore setting up of a facility in UAE to produce ethylene dichloride, which goes into the making of PVC that is commonly-used in pipes, tubes and cables.
We spoke to SMC Global Securities and here’s what they have to recommend:
JB Chemicals & Pharmaceuticals Ltd: Buy | LTP: Rs 422 | Target: Rs 480 | Stop Loss: Rs 385 | Upside 13 percent
Dr. Reddy's Laboratories Ltd: Buy | LTP: Rs 2,896 | Target: Rs 3,125 | Stop Loss: Rs 2,730 | Upside 8 percent
Eris Lifesciences Ltd: Buy | LTP: Rs 475 | Target: Rs 532 | Stop Loss: Rs 435 | Upside 12 percentDisclaimer: 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.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.