- Nifty continued to be in positive territory after the sharp appreciation in the rupee and also with the liquidity conditions improving in India. There were also positive cues ahead of the G-20 Summit in Argentina.
- Global markets have taken a hit after Trump announced fresh tariffs on imported cars from the coming week. That is likely to weigh on the market sentiments across Asia on Wednesday.
- FIIs were net buyers to the tune of Rs.812 crores while DFIs bought Rs.31 crore on Tuesday. FIIs have infused a little over $1 billion into Indian equities in November but it may take some to recover the losses of October.
- US and European markets are under tremendous pressure due to the impact of Trump’s statements on the tariffs on auto imports. The SGX Nifty is in positive territory but a lot will depend on Asian cues tomorrow.
- We continue to hold our long position on Infosys. The stock may be emerging as a good bet and we are reiterating our buy call. With limited downsides, one can keep target upsides of Rs.700 on the stock in the next one quarter.
- We had given a buy call on Yes Bank but we would prefer to terminate the call and take a fresh view only after there is clarity on the new board composition and the outcome of the RBI audit and the Moody’s downgrade.
- We had recommended Motherson Sumi around the 150 levels and reiterate our buy call at around the Rs.161 levels, this time around. We still target Rs.200 on the stock in the next one quarter.
- Global markets are under pressure but weak oil may continue to hold dividends for Indian FMCG companies in the current market. Keep an eye on them.
