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Last Updated : Feb 12, 2019 08:40 AM IST | Source: Moneycontrol.com

Market Headstart | Nifty likely to open flat; 3 stocks that could give 4-6% return

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 23.5 points or 0.21 percent. Nifty futures were trading around 10,907-level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is likely to open flat on Tuesday following mixed trend seen in other Asian markets. The index closed 54 points down at 10,888 on Monday.

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 23.5 points or 0.21 percent. Nifty futures were trading around 10,907-level on the Singaporean Exchange.

Wall Street see-sawed on Monday, rarely straying far from opening levels as investors eyed ongoing US-China trade talks, potential congressional gridlock and a diminished 2019 earnings outlook, said a Reuters report.

Asian shares barely budged on Tuesday with investors looking to a new round of Sino-US trade talks as the world’s two largest economies try to resolve a tariff dispute that has put a dent on global growth and corporate earnings, it said.

As many as 464 companies will declare their results for the quarter ended December which include names like Balaji Telefilms, Bata India, Coal India, Crisil, DB Realty, HEG, Ipca Laboratories, Jain Irrigations, Lux Industries, Natco Pharma, Oil India, Religare Enterprises, Sun Pharma and Vadilal Industries among others.

Stocks in news:

State-owned Hindustan Copper on Monday reported a net profit of Rs 51.35 crore for the third quarter ended December 2018, up 83 percent over the corresponding period profit of last year.

State-owned Andhra Bank on Monday said its net loss widened to Rs 578.59 crore in the third quarter ended December 31, as bad loans surged. The bank had posted a net loss of Rs 532.02 crore in the October-December quarter previous fiscal.

The Specified Undertaking of Unit Trust of India (SUUTI) will sell up to 3 percent stake in Axis Bank. The floor price has been set at Rs 689.52 per share, roughly a 3 percent discount to the February 11 closing price of Rs 710.35 per share.

Technical Recommendations:

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

HDFC Bank: Buy| Target: Rs 2230| Stop-Loss: Rs 2080| Upside 4.4%

UPL Limited: Buy| Target: Rs 850| Stop-Loss: Rs 775| Return 6.2%

ICICI Bank Limited: Sell Feb Futures| Target: Rs 334| Stop-Loss: Rs 364 | Downside 5.4%

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.
First Published on Feb 12, 2019 08:39 am
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