Trends on SGX Nifty indicate a negative opening for the broader index in India, with a 17 points loss or 0.14 percent. The Nifty futures were trading around 12,077-level on the Singaporean Exchange.
The Nifty50 is expected to open lower on December 5 following a muted trend seen in other Asian markets. Markets picked up momentum on signs that the United States and China were on track for a preliminary trade deal, but the gains remain capped.
The fluid situation around Sino-US trade negotiations has cast a pall on financial markets heading into the Christmas, with major economies grappling under the weight of weak exports, investments and corporate profits, said a Reuters report.
Analysts warn that more market turbulence is possible as the Sino-US negotiations are very fluid, added the report.
Trends on SGX Nifty indicate a negative opening for the broader index in India, with a 17-point loss, or 0.14 percent. The Nifty futures were trading around 12,077-level on the Singaporean Exchange.
Let’s look at the final tally on D-Street – the S&P BSE Sensex rose 178 points to 40,850 while Nifty50 closed 49 points higher at 12,043 on December 4.
The rupee clawed back its lost territory to settle 13 paise higher at 71.53 to the US dollar on renewed hopes about the US-China trade deal.
On the institutional front, FPIs were net sellers in Indian markets for Rs 781 cr while the DIIs were net buyers to the tune of Rs 904 cr, provisional data showed.
Stocks in news:
The country's largest lender State Bank of India has decided to sell its 8.25 percent stake in UTI AMC through an initial public offering.
The board of Bharti Airtel, on December 4, approved a plan to raise up to $3 billion via the debt and equity route.
Hinduja Group flagship Ashok Leyland said on December 4 that the company proposes to observe non-working days in a few plants in December to align production at its facilities in line with market demand.
We spoke to Bonanza Portfolio and here’s what they have to recommend:
Century Textiles: Buy | LTP: Rs.473 | Target: Rs 515.50 | Stop Loss: Rs 449 | Upside 9 percent
Reliance Industries: Sell | LTP: Rs 1,552.70 | Target: Rs 1,460 | Stop Loss Rs.1,615 | Downside 6 percent
Delta Corp: Buy | LTP: Rs 215.55 | Target: Rs 241 | Stop Loss: Rs 200 | 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.