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Last Updated : Nov 27, 2019 01:32 PM IST | Source: Moneycontrol.com

Market Headstart: Nifty50 seen opening higher; SpiceJet, VST Industries eyed

Trends on SGX Nifty indicate a positive opening for the broader index in India, with a 22 points gain or 0.19 percent. The Nifty futures were trading around 11,887-level on the Singaporean Exchange.


The Nifty50 is expected to open higher on Thursday following a mixed trend seen in other Asian markets.

Trends on SGX Nifty indicate a positive opening for the broader index in India, with a 22 points gain or 0.19 percent. The Nifty futures were trading around 11,887-level on the Singaporean Exchange.

The final tally on D-Street – the S&P BSE Sensex fell 229 points to 40,116 while the Nifty50 closed 73 points lower at 11,840 on Wednesday.

Close

The rupee nosedived 62 paise to hit an over two-month low of 72.09 to the US dollar on November 13 as poor macro data and lingering worries over US-China trade war weighed on sentiment.

On the institutional front, FPIs were net buyers in Indian equity markets for Rs 584 cr while DIIs were net sellers to the tune of Rs 890 cr, provisional data showed.

Stocks in news:

Ace investor Radhakishan S Damani picked up 2,70,000 shares in cigarette maker VST Industries on November 13 at Rs 4,259.99 per share through a bulk deal, data on BSE showed.

Low-cost carrier SpiceJet on November 13 reported widening of loss to Rs 462.6 crore in the three months ended September, mainly hit by expenses related to the grounding of Boeing 737 MAX planes and changes in accounting norms.

State-run engineering firm Bharat Heavy Electricals Ltd (BHEL) on November 13 posted a 42 percent jump in consolidated net profit at Rs 120.95 crore in the second quarter ended September 30.

Technical Recommendations:

We spoke to Bonanza Portfolio Limited and here’s what they have to recommend:

Godfrey Phillips: BUY| LTP: Rs 1,249| Target: Rs 1,440| Stop Loss: Rs 1,136|Upside 15.21%

Tinplate Company Ltd: Buy in range of Rs 128-136| LTP: Rs 136.50| Target: Rs 163|Stop Loss: Rs 120|Upside 19.8%

Axis Bank: Sell in the range of Rs 712-725| LTP: Rs 711| Target: Rs 640| Stop Loss Rs 741| Upside 10%

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 14, 2019 08:19 am
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