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Last Updated : May 09, 2019 08:25 AM IST | Source: Moneycontrol.com

Market Headstart: Nifty likely to open flat; 2 stocks which could give 4-9% return

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 15 points or 0.13 percent. Nifty futures were trading around 11,388-level on the Singaporean Exchange.

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The Nifty50 is likely to open flat on Thursday tracking muted trend seen in Asian markets which hit a fresh 6-month low ahead of key Sino-U.S. trade negotiations fanned fresh concerns about the outlook for the global economy.

The S&P BSE Sensex closed 487 points lower at 37,789 while the Nifty50 ended 138 points down at 11,359 on Wednesday.

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 15 points or 0.13 percent. Nifty futures were trading around 11,388-level on the Singaporean Exchange.

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The benchmark S&P 500 fell on Wednesday for the third day in a row as investors remained cautious about the latest developments on US-China trade talks even after hopeful comments from the White House regarding an eventual agreement, said a Reuters report.

Asian shares hit six-week lows in early trade on Thursday as increased tensions ahead of key Sino-US trade negotiations fanned fresh concerns about the outlook for the global economy, he said.

As many as 55 companies will declare their results for quarter ended March which include names like Apollo Tyres, Asian Paints, HCL Technologies, ICRA, Mahanagar Gas, OFSS, South Indian Bank, Voltas and Varun Beverages among others.

Stocks in news:

Tata Group firm Titan Company May 8 posted a 14.41 percent increase in consolidated net profit at Rs 348.30 crore for the fourth quarter of 2018-19.

L&T will not revise the open offer price for Mindtree from Rs 980 per share, said sources aware of the development, ruling out market speculation of a revision in the offer price following a dividend payout by Mindtree.

Microfinance lender Satin Creditcare May 8 reported a 47 per cent rise in net profit to Rs 56 crore for the fourth quarter of FY 2019.

Technical Recommendations:

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

Birla Corp: Buy| CMP: Rs.549 | Target Rs 600| Stop Loss: Rs 529| Upside 9%

ACC: Sell| CMP: Rs.1590 | Target Rs 1516| Stop Loss: Rs. 1636| Downside 4%

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.

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First Published on May 9, 2019 08:22 am
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