Trends on SGX Nifty indicate a negative opening for the broader index in India, with a 40 points loss or 0.33 percent. The Nifty futures were trading around 12,011-level on the Singaporean Exchange.
The Nifty50 is expected to open lower on December 4, tracking a muted trend seen in other Asian markets after the US President Donald Trump said a trade deal with China might have to wait until after the 2020 presidential election.
If there is no deal or substantial progress before December 15, tariffs on the remaining Chinese imports, including cell phones, laptop computers and toys, will take effect, said a Reuters report quoting US Commerce Secretary Wilbur Ross.
Trends on SGX Nifty indicate a negative opening for the broader index in India, with a 40-point loss, or 0.33 percent. The Nifty futures were trading around 12,011-level on the Singaporean Exchange.
Let’s look at the final tally on D-Street. The S&P BSE Sensex fell 126 points to 40,675 while the Nifty50 closed 54 points lower at 11,994 on December 3.
The Indian rupee surrendered early gains to settle flat at 71.66 to the US dollar amid the emergence of fresh worries over a global trade war.
On the institutional front, FPIs were net sellers in Indian markets for Rs 1,131 cr while DIIs were net buyers to the tune of Rs 963 cr, provisional data showed.
Stocks in news:
Standard Life Investments, one of the promoters of HDFC Asset Management Company (AMC), will sell a 2.23 percent stake in the company on December 4-5.
CSB Bank: Shares of Kerala-based CSB Bank make a debut on bourses on December 4, with the final issue price at Rs 195 per share.
We spoke to SMC Global Securities, and here’s what they have to recommend:
BEML: Buy | Target: Rs 1,145 | Stop Loss: Rs 950 | Upside 12 percent
Gujarat Gas Ltd: Buy | Target: Rs 236 | Stop Loss: Rs 195 | Upside 12 percent
Balkrishna Industries Ltd: Buy | Target: Rs 1,011 | Stop Loss: Rs 850 | Upside 11 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.LIVE NOW... Video series on How to Double Your Monthly Income... where Rahul Shah, Ex-Swiss Investment Banker and one of India's leading experts on wealth building, reveals his secret strategies for the first time ever. Register here to watch it for FREE.