Moneycontrol
Last Updated : Dec 04, 2018 08:46 AM IST | Source: Moneycontrol.com

Market Headstart: Nifty likely to open flat; 3 stocks that could return 7-8%

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 28 points or 0.26 percent

Kshitij Anand @kshanand

The Nifty is likely to open flat on Tuesday following a muted trend seen in other Asian markets. The index closed 7 points higher at 10,883 on Monday.

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 28 points or 0.26 percent. Nifty futures were trading around 10,910 on the Singaporean Exchange.

Wall Street's major indices rallied on Monday following a truce between the US and China in their trade dispute, which has clouded the outlook for the stock market for much of the year, Reuters reported.

Asian shares fell in early trade on Tuesday as a relief rally sparked by a truce in the US-China trade war gave way to doubts on whether the two countries are able to resolve their differences before a 90-day deadline, it said.

Stocks in the news:

After the resignations of three board members, Yes Bank has appointed former Life Insurance Corporation of India (LIC) Chairman TS Vijayan as an additional independent director for five years.

Sun Pharmaceutical Industries needs more clarity from market regulator Securities and Exchange Board of India (Sebi) about a whistle-blower complaint against the company, said Dilip Shanghvi, founder and MD, on Monday. The stock closed 7.5 percent lower on Monday.

Edelweiss on Sun Pharma: Maintain Reduce; Cut TP to Rs 430 from Rs 500

Hindustan Unilever shares gained 4.12 percent on Monday after the company decided to merge Glaxosmithkline Consumer Healthcare with itself.

CLSA on Hindustan Unilever: Maintain Outperform; Hike TP to Rs 2,010 from Rs 1,750 | View the deal as clear positive; EPS accretive even without synergy

NMDC: Prices of lump ore (65.53, 6-40mm) fixed at Rs 3,550 per tonne and fines (643, - 1 Omm) at Rs 3,110 per tonne.

Uflex: US patent granted to FlexFilms for breakthrough BOPET Film used for Alu Alu Blister Pack.

NCC: Company has received two new orders totaling to Rs 220.2 crore in November.

Technical Recommendations:

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

Kotak Mahindra Bank: Buy| LTP: Rs 1226| Target: Rs 1325| Stop-Loss: Rs 1160 |Return 8%

Hero MotoCorp Ltd: Buy| LTP: Rs 3040| Target: Rs 3250| Stop-Loss: Rs 2910| Return 7%

SBI: Buy| LTP: Rs 287| Target: Rs 308 | Stop-Loss: Rs 273| Return 7%

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 Dec 4, 2018 08:46 am
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