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The Nifty50 is likely to open flat on Wednesday tracking muted trend seen in other Asian markets. The index closed 6.7 points higher at 10,769 on Tuesday.
Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 17.5 points or 0.16 percent. Nifty futures were trading around 10,743-level on the Singaporean Exchange.
US stocks found their footing on Tuesday, helped by gains in the energy, technology and consumer discretionary sectors after a sharp sell-off a day earlier on spiraling global trade tensions, said a Reuters report.
Asian shares were subdued on Wednesday as weakness in Chinese stocks and the yuan weighed on sentiment, while oil held hefty gains as the United States pressured allies to stop buying Iranian crude, it said.
MSCI's broadest index of Asia-Pacific shares outside Japan was off 0.05 percent after touching a two-year trough on Tuesday. Japan's Nikkei has been faring better and was all but flat in early trade.
Oil prices rose on Wednesday, pushed up by supply disruptions in Libya and Canada and after US.officials said all countries should stop Iranian crude imports from November.
Ex-Bonus- New India Assurance Company 1:1
Ex- Split: Filatex India From Rs 10 to Rs 2
IndusInd Bank to acquire IL&FS' brokerage business
Shriram Transport Finance to raise Rs 5,000cr via bonds issue
Fortune Financial services entered in to share purchase agreement with ITI Reinsurance
Corporation Bank: India Ratings has revised credit rating of its debt instruments
Fortis Healthcare reported a net loss of Rs 932 crore for the quarter, compared to a Rs 68 crore loss in the corresponding quarter, on the back of an exceptional loss of Rs 833.5 crore.
Technical Recommendations:
We spoke to SMC Global Securities and here’s what they have to recommend:
Greaves Cotton Limited: Buy| Target: Rs 153| Stop Loss: Rs 128| Return 12%
Muthoot Capital Services Limited: Buy| Target: Rs 1,145| Stop Loss: Rs 945| Return 12%
Filatex India Limited: Buy| Target: Rs 239| Stop Loss: Rs 195| Return 13%
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