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Last Updated : Nov 27, 2019 01:21 PM IST | Source: Moneycontrol.com

Market Headstart: Nifty50 seen opening lower; Bajaj Holdings, AU Finance top buys

Trends on SGX Nifty indicate a negative opening for the index in India, with a loss of 46 points

The Nifty50 is expected to open lower on November 13, tracking a muted trend seen in other Asian markets which were trading mostly lower on growing worries around the US-China trade talks.

Trends on SGX Nifty indicate a negative opening for the index in India, with a loss of 46 points. The Nifty futures were trading around 11,915-level on the Singaporean Exchange. SGX Nifty closed at 11,961 on November 11.

The final tally on D-Street – the S&P BSE Sensex rose 21 points to 40,345 while the Nifty50 closed five points higher at 11,913 on November 11.

Close

The rupee on November 11 tumbled by 19 paise to a near one-month low of 71.47 against the US dollar as fresh concerns over the US-China trade deal and Hong Kong unrest kept forex market participants edgy.

On the institutional front, FPIs were net buyers in Indian markets for Rs 664 cr while the DIIs were net sellers to the tune of Rs 245 cr, provisional data showed.

Stocks in news

Godrej Industries has reported 95.7 percent YoY jump in its September quarter (Q2FY20) net profit at Rs 371.46 crore against Rs 189.76 crore.

Tata Motors-held Jaguar Land Rover (JLR) on November 12 reported a 5.5 percent decline in total retail sales at 41,866 units in October as compared with the year-ago period.

Essel Group will soon begin the sale of Zee Entertainment shares pledged with lenders, CNBC-TV18 reported quoting sources.  We have seen a good volume spike in ZEE Ent which saw a long buildup on November 8. The stock closed with gains of over 6 percent and was also the top Nifty gainer.

Food company Britannia Industries Ltd on November 11 posted 32.90 percent increase in consolidated net profit to Rs 402.73 crore for the quarter ended on September 30.

Technical Recommendations

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

AU Small Finance Bank: Buy | Target: Rs 796 | Stop-Loss: Rs 653 | Upside  11 percent

Maharashtra Scooters: Buy | Target: Rs 5,600 | Stop-Loss: Rs 4,410 | Upside 17 percent

Bajaj Holdings: Buy | Target: Rs 4,250 | Stop Loss: Rs 3,450| Upside 15 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 13, 2019 08:21 am
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