Moneycontrol News
The Nifty50 is expected to open flat on Thursday tracking muted trend seen in other Asian markets and weak handover from Wall Street. The Nifty closed 14.9 points higher at 10,417 on Wednesday.
Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 21 points or 0.2 percent. Nifty futures were trading around 10,439-level on the Singaporean Exchange.
Wall Street stocks fell on Wednesday as possible US military action against Syria stoked investor concerns about geopolitical risk to the American economy and minutes from the Federal Open Market Committee sparked worries about a more hawkish view on interest-rate increases, Reuters reported.
Asian stocks came under pressure on Thursday as the threat of imminent US military action in Syria rattled investors and sent oil prices to their highest levels since late 2014 on concerns about supply. MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.05 percent in early trade while Japan's Nikkei dropped 0.4 percent, Reuters reported.
Stocks in news:
Jet Airways: It has appointed Ashok Chawla as non-executive independent director of the Board.
GMR Infra: The group will set up aerospace & defence manufacturing hub in Tamil Nadu
Oil companies: Major agreement has been signed between Saudi Aramco & Hindustan Oil, Indian Oil & Bharat Oil.
Bhushan Steel: NCLT reserves orders on resolution plan approval
Biocon: Mylan and Biocon have sought to accelerate introduction of Adalimumab Biosimilar In EU.
Tata Motors: Global wholesales at 1.53 lakh units in March.
Larsen & Toubro: It has signed an MoU With BEL To Develop Defence Products
Tata Sons: The company will form Tata Aerospace & Defence
IDBI Bank: RBI Imposes Rs 3 crore penalty for non-compliance with IRAC Norms.
Technical Recommendations:
We spoke to ICICIdirect and here’s what they have to recommend:
Bajaj Finserv: BUY CMP – 5420.00 Target – 6095.00 Stop Loss – 5190.00 Upside – 12% Time Frame 6 months
EIH Limited: BUY CMP – 165.00 Target – 194.00 Stop Loss – 145.00 Upside – 17% Time Frame 6 months
PNC Infratech: BUY CMP – 181.00 Target – 205.00 Stop Loss – 166.00 Upside – 13% Time Frame 1 month
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