Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 52 points or 0.44 percent. Nifty futures were trading around 11,977-level on the Singaporean Exchange.
The Nifty50 is likely to open flat-to-higher on Monday following a mixed trend seen in other Asian markets.
Asia was trading at a multi-month low on mounting worries about Sino-US tensions and Washington’s new tariff threat against Mexico which could tip the global economy into a recession.
US stocks dropped on Friday, as the S&P 500 closed out the month with its biggest May slump since 2010 after President Donald Trump's surprise threat of tariffs on Mexico fuelled fears that a trade war on multiple fronts, said a Reuters report.
“Oil prices fell more than 1 percent on Monday, extending losses of over 3 percent from Friday when crude markets racked up their biggest monthly losses in six months amid stalling demand and as trade wars fanned fears of a global economic slowdown,” the report added.
The S&P BSE Sensex 117 points lower at 39,714 while the Nifty50 lost 23 points to close the day at 11,922 for the week ended May 31.
Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 52 points or 0.44 percent. Nifty futures were trading around 11,977-level on the Singaporean Exchange.
Stocks in news:
The country's largest carmaker Maruti Suzuki India Saturday reported a 22 percent decline in sales at 1,34,641 units in May. The company had sold 1,72,512 units in May 2018, Maruti Suzuki India (MSI) said in a statement.
Auto major Mahindra and Mahindra (M&M) Saturday reported 3 percent decline in total sales at 45,421 units in May. The company had sold 46,848 units in the same month last year, M&M said in a statement.
Suzlon Energy's Thursday said its consolidated net loss for the March quarter narrowed to Rs 294.64 crore from Rs 469.85 crore a year ago, mainly due to lower expenses.
Technical Recommendations:
We spoke to Angel Broking and here's what they have to recommend:
Godrej Consumer: Buy| LTP: Rs 688.05| Target: Rs 760| Stop Loss: Rs 648| Upside 10%
Raymond: Buy| LTP: Rs 828| Target: Rs 897| Stop Loss: Rs 804| Upside 8%
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