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Last Updated : May 03, 2019 08:47 AM IST | Source: Moneycontrol.com

Market Headstart | Nifty likely to open flat; 3 stocks that can give 13-20% return

Trends on SGX Nifty indicate a flat opening for the broader index in India, a fall of 12 points, or 0.10 percent. Nifty futures were trading around 11,743 - level on the Singaporean Exchange.


The Nifty50 is expected to open flat-to-lower on May 3 following weak trend seen in other Asian markets. The index closed 23.40 points lower at 11,724.80 on May 2.

Trends on SGX Nifty indicate a flat opening for the broader index in India, a fall of 12 points, or 0.10 percent. Nifty futures were trading around 11,743 - level on the Singaporean Exchange.

US stocks eased further from recent record highs on Thursday as energy shares dropped along with oil prices and investors continued to digest comments by Federal Reserve Chairman Jerome Powell, said a Reuters report.

Close

Asian share markets were subdued on Friday amid thin holiday trade although the dollar found support as investors pared expectations for a US rate cut this year while oil prices loitered near one-month lows on oversupply fears, it said.

As many as 24 companies will declare their results for the quarter ended March later today which include names like HUL, Century Textiles, Birla Corp, Godrej Consumer Products, L&T Technology Services and Tata Chemicals among others.

Stocks in the news:

Godrej Properties to raise funds up to Rs 2,500 crore

Standard Life to sell 1.78% stake in HDFC Life Insurance on May 3 & May 5

Tata Motors total domestic sales for April 2019 declined by 20% at 42,577 units against 53,511 units, YoY

Hero Motocorp total sales at 5.74 lakh units in April 2019

Technical Recommendations:

We spoke to Sanctum Wealth Management and here’s what they have to recommend:

PVR: Buy| LTP: Rs 1763| Stop Loss: Rs 1695| Target: Rs 2000| Upside 13%

Aurobindo Pharma: Buy| LTP: Rs 818.65| Stop Loss: Rs 780| Target: Rs 950| Upside 16%

Indian Hotels Company: Buy| LTP: Rs 154| Stop Loss: Rs 146| Target: Rs 185| Upside 20%

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 3, 2019 08:30 am
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