Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 46.5 points or 0.44 percent. Nifty futures were trading around 10,542-level on the Singaporean Exchange.
The Nifty50 is likely to open lower on Monday following muted trend seen in other Asian markets. The index closed 172 points higher at 10,553 on Friday.
Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 46.5 points or 0.44 percent. Nifty futures were trading around 10,542-level on the Singaporean Exchange.
US stocks snapped a three-day rally on Friday as Apple shares dropped following a disappointing forecast and the White House dampened optimism over US-China trade talks, said a Reuters report.
Asian stocks started the week gingerly amid worries about tense Sino-US trade relations. MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 0.2 percent in early trades but was well off a 1-1/2 year trough touched last week, it added.
On the earnings front, as many as 205 companies will report their results for the quarter ended September which include names like Allcargo Logistics, Atul Auto, PNB Housing Finance, State Bank of India, Timken India, Venky’s India, and Wabco India among others.
ONGC Q2: Profit rises 34.5 percent to Rs 8,264.6 crore versus Rs 6,143.8 crore; revenue increases 3 percent to Rs 27,989.1 crore versus Rs 27,212.8 crore.
Ashoka Buildcon Q2: Profit falls 2.8 percent to Rs 62 crore versus Rs 63.9 crore; revenue rises 11.8 percent to Rs 764.4 crore versus Rs 683.7 crore.
Torrent Pharma Q2: Consolidated net profit falls 12.3 percent at Rs 179 crore versus Rs 204 crore; revenue rises 33.7 percent at Rs 1,894 crore versus Rs 1,417 crore.
Gujarat Gas Q2: Profit falls 32.8 percent at Rs 41.07 crore versus Rs 61.08 crore; revenue rises 41.2 percent at Rs 1,964.3 crore versus Rs 1,391.2 crore.
Eris Lifesciences Q2: Consolidated net profit falls 8.1 percent at Rs 85.3 crore versus Rs 92.8 crore; revenue rises 6 percent at Rs 264.1 crore versus Rs 249.2 crore.
BEML Q2: Profit rises 61.8 percent at Rs 16.9 crore versus Rs 10.2 crore; revenue rises 6.4 percent at Rs 734 crore versus Rs 689.6 crore.
Technical Recommendations:
We spoke to Way2Wealth Brokers Pvt. Ltd. and here’s what they have to recommend:
Ceat: Buy around 1170-1160| LTP: 1181.75| Target: Rs 1260/1290| Stop Loss: Rs 1110| Return 9.2%
Vedanta: Buy around Rs 210-213| LTP: Rs 225| Target: 235/248| Stop Loss: Rs 194| Return 10%
MARICO: Sell around Rs 315-320| LTP: Rs 337.85| Target: Rs 300/290| Stop Loss: Rs 332| Return 14%
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