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Last Updated : Jan 23, 2019 08:59 AM IST | Source: Moneycontrol.com

Market Headstart: Nifty likely to open flat; 3 stocks which could 4-6% returns

Trends on SGX Nifty indicate a flat to negative opening for the broader index in India, a fall of 3 points or 0.03 percent. Nifty futures were trading around 10,929 level on the Singaporean Exchange.

The Nifty50 is expected to open flat on Wednesday following muted trend seen in other Asian markets. The index closed 39 points lower at 10922 on Tuesday.

Trends on SGX Nifty indicate a flat to negative opening for the broader index in India, a fall of 3 points or 0.03 percent. Nifty futures were trading around 10,929 level on the Singaporean Exchange.

US stocks ended lower on Tuesday, snapping a four-session rally, as a gloomy global economic growth outlook, trade concerns and disappointing company forecasts dampened sentiment, said a Reuters report.

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Asian stocks edged down on Wednesday on mounting signs of slowing global growth and anxiety over a yet-unresolved Sino-US trade dispute, it said.

On the earnings front, as many as 48 companies will be reporting their results for December quarter later today which include names like ITC, United Spirits, InterGlobe Aviation, DB Corp, and Pidilite Industries among others.

Stocks in news:

Cyient on Tuesday said it has signed a definitive agreement to acquire remaining 26 percent stake in one of its subsidiaries, Cyient DLM, to take the overall holding to 100 percent.

Oberoi Realty reported 15 percent increase in its consolidated net profit to Rs 137.93 crore for the quarter ended December 31.

Alembic Pharmaceuticals reported 30 per cent rise in consolidated net profit to Rs 169.83 crore for the quarter ended December 31, 2018 mainly on account of robust sales in the US.

Technical Recommendations:

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

Dabur India Limited: Buy| Target: Rs 445| Stop-Loss: Rs 414| Return 4.7 %

ITC Limited: Buy | Target: Rs 302| Stop-Loss: Rs 284| Return 4.1 %

Siemens Limited: Sell January Futures |Target: 980 | Stop-loss: Rs 1080| Return 6.2 %

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 Jan 23, 2019 08:43 am
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