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The Nifty50 is expected to open flat-to-positive on Monday following positive trend seen in other Asian markets. The index closed 91 points higher at 10,605 on Friday.
Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 8 points or 0.08 percent. Nifty futures were trading around 10,647-level on the Singaporean Exchange.
Asian markets were mixed in Monday trade, with the decline in oil prices weighing on energy stocks, while investors digested weekend news regarding US-North Korea relations, said a Reuters report.
Oil prices fell on Monday, extending a steep decline in the previous session, as the market eyed an increase in output from the world’s three top crude producers, Russia, the United States and Saudi Arabia, it said.
Foreign investors have pulled out a massive USD 4 billion (over Rs 26,700 crore) from capital markets so far this month, primarily due to surge in global crude prices.
Results Today: Bank Of India, NTPC, NMDC, Oil India, Assam Company, BAG Films, Cox & Kings, Gravita India, HBL Power, Hathway Cable, Kwality, RCF, SJVN, Uflex,
Dr Reddy’s subsidiary company Promuis Pharma filed lawsuit for patent infringement in US court
Punj Lloyd board meeting on May 30, 2018 to consider and approve a proposal to restructure the outstanding credit facilities
United Breweries: The firm launched AMSTEL Beer in its super premium strong beer category.
IDBI Bank: The Board has initiated divestment of partial stake in IDBI AMC to a strategic investor.
Jindal Saw: Neeraj Kumar reappointed as Group CEO and Wholetime Director of the company.
Tech Mahindra reports Q4 profit beats estimates at Rs 1,222 crore
Sun Pharma Q4 profit up 7 percent YoY at Rs 1,309 crore, beats estimates
Lakshmi Vilas Bank: Net loss At Rs 622.2 crore against profit of Rs 52.2 crore YoY.
Technical Recommendations:
We spoke to 5nance.com and here’s what they have to recommend:
ITC Ltd: Sell | Target: Rs 250 | Stop-loss: Rs 285 | Return 8%
Just Dial Ltd: Buy | Target: Rs 575 | Stop-loss: Rs 480 | Return 13%
Jain Irrigation System Ltd: Buy | Target: Rs 123 | Stop-loss: Rs 94 | Return 18%
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