Moneycontrol
Last Updated : Oct 23, 2018 08:44 AM IST | Source: Moneycontrol.com

Market Headstart: Nifty likely to open around 10,200; 3 stocks which could give 6-7% return

Trends on SGX Nifty indicate a negative opening for the broader index in India, a loss of 71 points or 0.69 percent. Nifty futures were trading around 10,181- level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is likely to open lower on Tuesday following a muted trend seen in other Asian markets. The index closed 58 points lower at 10,245 on Monday.

Trends on SGX Nifty indicate a negative opening for the broader index in India, a loss of 71 points or 0.69 percent. Nifty futures were trading around 10,181- level on the Singaporean Exchange.

The S&P 500 and the Dow fell in choppy trading on Monday as energy and financial stocks lost ground and caution grew ahead of a slew of earnings reports this week, said a Reuters report.

Asian shares edged lower on Tuesday as earnings season nerves in the US dented Wall Street, while a cocktail of negative factors from Saudi Arabia’s diplomatic isolation to concerns over Italy’s budget and Brexit talks depressed sentiment, it said.

Stocks in news:

Asian Paints posted on Monday a 14.4 percent fall in second-quarter profit, which missed analysts' estimates, hurt by higher expenses.

Oberoi Realty Q2: Profit doubled to Rs 213.83 crore versus Rs 104.32 crore YoY, but falls from Rs 309.42 crore QoQ

Lakshmi Machine Works Q2: Profit declines 12.6 percent to Rs 40 crore versus Rs 46.2 crore

Can Fin Homes Q2: Profit rises 7.6 percent to Rs 76.83 crore versus Rs 71.42 crore; total revenue from operations increases 11 percent to Rs 423.04 crore versus Rs 378.54 crore YoY.

Rural Electrification Corporation: Ministry of Corporate Affairs (MCA) has approved the change of name of the company from Rural Electrification Corporation Limited to REC Limited.

Technical Recommendations:

We spoke to Religare Broking Ltd and here’s what they have to recommend:

Aurobindo Pharma Limited: Buy| Target: Rs 820| Stop-Loss: Rs 730| Return 7.9%

Canara Bank: Sell Nov Futures| Target: Rs 198| Stop-Loss: Rs 224 | Return 7.5%

ONGC Limited: Sell Nov Futures| Target: Rs 148| Stop-Loss: Rs 166 | Return 6.3%

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 Oct 23, 2018 08:43 am
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