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Last Updated : Dec 09, 2019 01:12 PM IST | Source: Moneycontrol.com

Market Headstart: Nifty seen opening lower; Maruti, Motherson Sumi top buys

Trends on SGX Nifty indicate a negative opening for the broader index in India with a 14 points loss. Nifty futures were trading around 12,110 levels on the Singaporean Exchange.

The Nifty is expected to open lower on November 28 following a muted trend seen in other Asian markets, amid tensions over Hong Kong, which could stymie a US-China trade deal.

US President Donald Trump on November 27 signed into law a Congressional legislation backing pro-democracy protesters in Hong Kong, despite angry objections from Beijing, reports Reuters.

Trends on SGX Nifty indicate a negative opening for the broader index in India with a 14 points loss. Nifty futures were trading around 12,110 levels on the Singaporean Exchange.

Close

On November 27, the Sensex rose 199 points to 41,020 and the Nifty closed 63 points higher at 12,100.

The rupee settled 15 paise higher at 71.35 against the dollar on November 27 as gains in domestic equities and sustained foreign fund inflows strengthened investor sentiment.

On the institutional front, FPIs and DIIs were net buyers in Indian markets to the tune of Rs 42 crore and Rs 439 crore, respectively, provisional data showed.

Stocks in news:

Hero MotoCorp, the world's largest two-wheeler maker, has stopped the production of over 50 variants of its Bharat Stage IV models, and has constituted an interim council to oversee the company’s transition to the Bharat Stage VI emissions regime, a source said.

Videocon Industries, which is facing insolvency proceedings, on Wednesday reported a huge loss of Rs 6,760.75 crore for the fiscal ending March 2019 against Rs Rs 5,264.04 crore in the year ago period mainly due to a sharp fall in income.

Tata Steel Europe said on Wednesday it had begun talks with its workers on a “transformation programme” that involves up to 3,000 job cuts, prompting an angry response from union leaders who said the plan needed to be revised.

Technical Recommendations:

We spoke to Bonanza Portfolio and here’s what they have to recommend:

Lux Industries: Buy| LTP: Rs.1396.95| Target: Rs 1535|Stop Loss: Rs 1310| Upside 10%

Motherson Sumi: Buy| LTP: Rs 133.60| Target: Rs 151.50| Stop Loss: Rs 124|Upside 13.10%

Maruti Suzuki India: Buy| LTP: Rs 7294.40| Target: Rs 7,805|Stop Loss: Rs 7000| Upside 7%

Disclaimer: The views and investment tips expressed by investment experts 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.

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First Published on Nov 28, 2019 08:15 am
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