The Nifty futures on Singaporean exchange, SGX, were trading absolutely flat with a positive bias, indicating a similar opening on the market in India. The SGX Nifty was trading around 10,624-mark, up just 10 points.
The Nifty50 is expected to open flat-to-positive on Monday following muted trend seen in other Asian markets. The index closed 86 points lower at 10,596 on Friday.
The Nifty futures on Singaporean Stock exchange, SGX, were trading absolutely flat with a positive bias, indicating a similar opening on the market in India. The SGX Nifty was trading around 10,624-mark, up just 10 points.
Markets in Asia were trading on a subdued note, even as positive cues came in from US-China trade war front. US Treasury Secretary Steven Mnuchin said the U.S. trade war with China is “on hold” after the world’s two largest economic powers agreed to drop their tariff threats while they work on a wider trade agreement, said a report.
Oil prices rose on Monday as markets reacted to news that China and the United States have put a looming trade war between the world’s two biggest economies “on hold”.Brent crude futures were at $79.13 per barrel at 0121 GMT, up 62 cents, or 0.8 percent, from their last close, the report added.
Dalmia Bharat has reported a 2.6 percent decline in profit at Rs 209 crore and 8 percent increase in revenue with margin contraction of 360 basis points YoY.
Bhushan Steel will remain in focus as Tata Steel took over the company by paying Rs 35,200 crore to financial creditors. The stock rallied nearly 18 percent in the passing week.
South Indian Bank: RBI has imposed Rs 5 crore penalty on the bank for non-compliance in norms related to IRAC, KYC Norms, treasury function.
Reliance Communications said it is filing appeal against as also application for stay of against the Insolvency & Bankruptcy Code order dated May 15 passed by NCLT, Mumbai bench in National Company Law Appellate Tribunal.
Tata Chemicals has posted a 23 percent increase in March quarter profit at Rs 356 crore and 1.7 percent rise in revenue with margin expansion of 130 basis points YoY.
AU Small Finance Bank will raise Rs 1,000 crore via sale of equity, issue of convertible warrants and these funds will be raised from unit of Singapore-based Temasek Holdings.
UltraTech Cement: Board approved scheme of arrangement wherein the company acquires cement business of Century Textiles and Industries
We spoke to 5nance.com and here’s what they have to recommend:
Time Technoplast Ltd: Buy | Target: Rs 145 | Stop-loss: Rs. 120 | Return 11%
JK Tyres & Industries Ltd: Buy | Target: Rs 156 | Stop-loss: Rs 135 | Return 6%
IRB Infrastructure Developers Ltd: Sell | Target: Rs 227 | Stop-loss: Rs 253 | Return 5%Disclaimer: The views and investment tips expressed by investment expert 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.