Market Headstart: Nifty likely to open flat; 2 stocks which could return 15-18%

The Nifty50 is likely to open flat-to-negative on Thursday following a mixed trend seen in Asian markets which were weighed down by the uncertainty over an intractable U.S.-China trade dispute, and oil prices were trading near five-month lows.

Overnight, Wall Street ended down slightly with bank stocks declining as prospects of a U.S. interest rate cut rose and energy shares tumbling along with oil prices, said a Reuters report.

Trends on SGX Nifty indicate a flat-to-negative opening for the broader index in India, a fall of 19 points or 0.16 percent. The Nifty futures were trading around 11,906-level on the Singaporean Exchange.

The final tally on D-Street on Wednesday – the S&P BSE Sensex dropped 193 points to 39,756 while the Nifty50 closed 59 points to close at 11,906.

The Indian rupee June 12 appreciated by 10 paise to close at 69.34 to the US dollar, marking the second straight session of gains driven by easing crude prices.

Stocks in news:

Tata Motors: Group May total global wholesale sales down 23 percent at 82,374 units YoY. JLR global sales at 39,895 units.

SAIL: Company likely to auction three loss-making steel plants - CNBC-TV18 sources

Power Finance Corporation (PFC), a state-run NBFC, said June 12 it has raised $1 billion (around 6,940 crore) through the issuance of bonds in the international market.

Technical Recommendations:

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

Bharat Electronics: Buy| CMP: Rs 107|Target: Rs 127|Stop Loss: Rs 99|Upside 18%| Time Frame 6 months

KSB Limited: Buy| LTP: Rs 718| Target: Rs 824|Stop Loss: Rs 638| Upside 15% Time Frame 6 Months

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