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Last Updated : Apr 30, 2019 08:48 AM IST | Source: Moneycontrol.com

Market Headstart: Nifty likely to open flat; 2 stocks which could give 6-10% return

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 27.5 points or 0.23 percent. Nifty futures were trading around 10,842 - level on the Singaporean Exchange.

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The Nifty50 is expected to open flat on Tuesday following muted trend seen in other Asian markets. The index closed 112 points higher at 11,754 on Friday.

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 27.5 points or 0.23 percent. Nifty futures were trading around 10,842 - level on the Singaporean Exchange.

The S&P 500 set an intraday record high on Monday, bolstering the view that the decade-long bull market has further to run, after consumer spending rose in March and inflation data was benign, said a Reuters report.

Close

Shares in Asia fell on Tuesday despite another record high close for the S&P 500, as investors await a US Federal Reserve policy decision for clues of whether it will continue to take a “patient” approach to interest rate policy, it said.

As many as 45 companies will declare their results for the quarter ended March later today which include names like Ambuja Cements, Can Fin Homes, Gammon India, Kotak Mahindra Bank, TVS Motor Company and Zensar Technologies among others.

Stocks in news:

Weighed down by weak sales numbers, Hero Motocorp's profit in the March quarter declined 25 percent to Rs 730.32 crore against Rs 967.4 crore in same period last year.

L&T Finance Holdings said its consolidated net profit more than doubled to Rs 552.12 crore during the quarter ended March 2019. The company had posted a Rs 270 crore net profit in the same period a year ago.

Private lender YES Bank on Friday reported a surprise loss of Rs 1,506.64 crore for the quarter ended March 31 on spike in provisions and contingencies.

Technical Recommendations:

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

MCX: Buy| LTP: Rs 839.20| Target: Rs 925| Stop Loss: Rs 790| Upside 10%

Grasim Industries Ltd: Buy| LTP: Rs. 913.45| Target: Rs 965| Stop Loss: Rs 886| Upside 6%

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 Apr 30, 2019 08:41 am
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