Moneycontrol
Last Updated : Jul 16, 2018 03:02 PM IST | Source: Moneycontrol.com

Markets@Moneycontrol: Nifty likely to open lower, may retest 10,700 levels

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 25.5 points or 0.24 percent. Nifty futures were trading around 10,735-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 59 points lower at 10,762 on Monday.

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 25.5 points or 0.24 percent. Nifty futures were trading around 10,735-level on the Singaporean Exchange.

An escalating trade dispute between the United States and other leading economies battered US stocks on Monday, handing the S&P 500 and Nasdaq their steepest losses in more than two months, said a Reuters report.

Global stocks extended a sell-off on Tuesday as mounting trade tensions between the United States and other major economies continued to steer investors away from riskier assets, lifting safe-haven US Treasuries and keeping the dollar on the defensive, it said.

MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.1 percent. Japan’s Nikkei lost 0.8 percent, South Korea’s KOSPI fell 0.55 percent and Australian stocks dropped 0.6 percent.

Oil prices rose on Tuesday on uncertainty over Libyan oil exports, although plans by producer cartel OPEC to raise output continued to drag. Brent crude.

Stocks in news:

Jet Airways says to buy additional 75 Boeing 737 Max jets

Sebi favours adjudication proceedings against ICICI Bank, Chanda Kochhar

Varroc Engineering to open for subscription on June 26 and close on June 28

Piramal Enterprises to sell arm Piramal Imaging to Alliance Medical Acquisitionco

Fortis Healthcare board meeting to consider Q4 results adjourned on June 25; to be re-convened on June 26, 2018

Bank of Baroda plans to raise Rs 6,000 crore

Karur Vysya Bank to raise up to Rs 1,200 crore via securities

HDFC, Kotak deny eyeing stake in PNB Housing Finance

Gujarat NRE Coke to seek stakeholders nod on revival plan

PNB fraud: ED moves court seeking extradition of Nirav Modi

Technical Recommendations:

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

Tech Mahindra: Buy| LTP: Rs 696| Target: Rs 745 | Stop-loss: Rs 670 | Return 7%

L&T Finance Ltd: Sell| LTP: Rs 157| Target: Rs 145 | Stop-loss Rs 166 | Return 8%

Ashok Leyland Ltd: Sell| LTO: Rs 132| Target Rs 120 | Stop-loss Rs 140 | Return 6%

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 26, 2018 08:49 am
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