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The Nifty50 is expected to open higher on Wednesday tracking positive trend seen in other Asian markets and strong handover from Wall Street. The Nifty closed 22 points higher at 10,402 on Tuesday.
Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 10 points or 0.1 percent. Nifty futures were trading around 10,436-level on the Singapore Stock Exchange.
US stocks climbed on Tuesday with Dow rising above 400 points as investor concerns about rising trade tensions between the United States and China eased after Chinese President Xi Jinping promised to cut import tariffs, Reuters reported.
Asian stocks were firm on Wednesday as investors lapped up the positive mood in markets after China’s President Xi Jinping helped ease fears over a US-China trade row, while the euro hovered near two-week highs, Reuters reported.
MSCI’s broadest index of Asia-Pacific shares outside Japan edged up 0.1 percent. Australian stocks added 0.1 percent and Japan's Nikkei edged up 0.15 percent.
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Technical Recommendations:
We spoke to Guiness Securities and here’s what they have to recommend:
BEML Ltd: BUY | Close: 1149.25| Target: Rs 1225 | Stop loss: Rs 1115 | Return: 6.59%
Cholamandalam Investment and Finance Company Ltd: BUY | Close: 1564.15 | Target: Rs 1690 | Stop loss: Rs 1515 | Return: 8.05%
KNR Constructions Ltd: BUY | Close: 311.35 | Target: Rs 350 | Stop loss: Rs 291 | Return: 12.18%
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