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Last Updated : Nov 27, 2019 01:41 PM IST | Source: Moneycontrol.com

Market Headstart: Nifty50 seen opening higher; Bharti Airtel, ONGC eyed

Trends on SGX Nifty indicate a positive opening for the broader index in India, with a 31 points gain or 0.26 percent. The Nifty futures were trading around 11,919-level on the Singaporean Exchange.

The Nifty50 is expected to open higher on Friday tracking mixed trend in other Asian markets as investor sentiment remained fragile following weak data from China and Germany.

Trends on SGX Nifty indicate a positive opening for the broader index in India, with a 31 points gain or 0.26 percent. The Nifty futures were trading around 11,919-level on the Singaporean Exchange.

The S&P BSE Sensex rose 170 points to 40,286 while the Nifty50 closed 31 points higher at 11,872 on Thursday.

Close

The Indian rupee on Thursday clocked its first gain after five sessions, closing 13 paise higher at 71.96 against the US dollar in line with domestic equities.

On the institutional front, FPIs were net sellers as they pull out Rs 562 cr from Indian equity markets while DIIs were net buyers to the tune of Rs 82 cr, provisional data showed.

Stocks in news:

Country's third-largest telecom operator Bharti Airtel posted a massive loss of Rs 23,044.9 crore in Q2FY20, dented by exceptional loss for license fee and spectrum usage charge (SUC) especially after an unfavourable verdict from Supreme Court on adjusted gross revenue (AGR) dues.

Oil and Natural Gas Corporation (ONGC) reported a 24.2 percent year-on-year (YoY) fall in standalone profit at Rs 6,263.13 crore for the quarter ended September 30 on November 14.

Suzlon Energy on Thursday reported widening of its consolidated net loss to Rs 777.52 crore in the quarter ended September 30, 2019

Technical Recommendations:

We spoke to IndiaNivesh Securities Limited and here’s what they have to recommend:

Zee Entertainment: Sell| LTP: Rs282| Target: Rs255| Stop-Loss: Rs 300| Downside: 9.5%

InterGlobe Aviation: Buy| LTP: Rs 1,516| Target: Rs 1,600| Stop-Loss: Rs1,450| Upside: +5.6%

JustDial: Buy| LTP: Rs 514| Target: Rs 560| Stop-Loss: Rs 480| Upside: 8.9%

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 15, 2019 08:21 am
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