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Last Updated : Jul 16, 2018 03:05 PM IST | Source: Moneycontrol.com

Markets@Moneycontrol: Nifty likely to open lower; crucial support placed around 10,755

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 43 points or 0.40 percent. Nifty futures were trading around 10,748-level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is likely to open lower on Tuesday following muted trend seen in other Asian markets. The Nifty closed 17 points lower at 10,799 on Monday.

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 43 points or 0.40 percent. Nifty futures were trading around 10,748-level on the Singaporean Exchange.

US President Donald Trump threatened on Monday to impose a 10 percent tariff on USD 200 billion of Chinese goods, escalating a tit-for-tat trade war with Beijing, said a Reuters report.

Asian stocks extended a global downturn on Tuesday. MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.1 percent. Japan's Nikkei lost 0.45 percent, South Korea's KOSPI edged down 0.1 percent while Australian stocks added 0.3 percent.

Oil prices fell in early Asian trading on Tuesday on expectations that producer cartel OPEC and key ally Russia will gradually increase output after withholding supplies since 2017.

Stocks in news:

Ex-Bonus - Transcorp International

ICICI Bank appoints Sandeep Bakhshi as wholetime director & COO

TCS opens its third delivery centre in France

Blue Dart: Sharad Upasani appointed independent director of the firm for five years

Bharat Financial Inclusion allotted over 15,500 shares under the ESOP scheme

Tata Steel Europe-Thyssenkrupp merger to cut costs: Moody's

Patanjali seeks more info on Adani's bid on Ruchi Soya

Gujarat Borosil approves composite scheme of amalgamation and arrangement with Vyline, Fennel Investment, Company with Borosil Glass

SpiceJet announces 14 new domestic flights

Technical Recommendations:

We spoke to HDFC Securities and here’s what they have to recommend:

UBL: Buy| LTP: Rs 1,284| Target: Rs 1,370 | Stop-loss: Rs 1230 | Return 7%

Jyothi Lab: Buy| LTP: Rs 464 | Target: Rs 502| Stop loss: Rs 445 | Return 8%

Tata Elxsi Ltd: Buy| LTP: Rs 1,296| Target: Rs 1,390 | Stop loss: Rs 1,240 | Return 7%

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.
First Published on Jun 19, 2018 08:55 am
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