Moneycontrol
Last Updated : Oct 15, 2018 08:43 AM IST | Source: Moneycontrol.com

Market Headstart: Nifty likely to open flat; 3 stocks which could give 3-5% return

Trends on SGX Nifty indicate a flat start for the broader index in India, a fall of 3 points or 0.03 percent. Nifty futures were trading around 10,476-level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is likely to open on flat note on Monday tracking mixed cues in in the global markets.

Trends on SGX Nifty indicate a flat start for the broader index in India, a fall of 3 points or 0.03 percent. Nifty futures were trading around 10,476-level on the Singaporean Exchange.

Even the hard-hit S&P500 energy and financial sectors managed to close the Friday session with slight gains after a late afternoon rally, said a Reuters report.

Asian shares slipped on Monday as worries over Sino-US trade disputes, a possible slowdown in the Chinese economy and higher US borrowing costs tempered optimism despite a rebound in global equities late last week, it said.

Crude oil futures rose sharply on Monday as geopolitical tensions over the disappearance of a prominent Saudi journalist stoked worries about supply, although concerns about the long-term outlook for demand dragged on prices.

Stocks in news:

Results today: Hindustan Unilever, 3i Infotech, Karnataka Bank, Tata Sponge Iron, Quintegra Solutions

AU Small Finance Bank Q2: Profit rises 34 percent to Rs 91 crore; net interest income increases 46 percent to Rs 321 crore (YoY); gross NPA falls to 2 percent against 2.2 percent and net NPA declined to 1.3 percent versus 1.4 percent (QoQ)

Avenue Supermarts Q2: Profit rises to Rs 225.74 crore versus Rs 191.04 crore; revenue jumps to Rs 4,872.5 crore versus Rs 3,506.92 crore (YoY).

HUL Q2: Profit jumps 19.5 percent to Rs 1,525 crore; revenue rises 11.1 percent to Rs 9,234 crore (YoY).

IL&FS Engineering and Construction: Infrastructure Leasing & Financial Services Limited (IL&FS), the promoter of the company nominated CS Rajan, Director, IL&FS, as a director of the company.

Nitesh Estates: Company entered into an agreement to sell 100 percent stake in step down tier II subsidiary - Nitesh Pune Mall Pvt. Ltd. It has signed agreement with ABIL group of Pune (Ela Realty, a SPV of ABIL).

PVR: Company opened 10 screens multiplex at PVR ICON, VR Chennai, Tamil Nadu.

Technical Recommendations:

We spoke to 5nance.com and here’s what they have to recommend:

Zee Entertainment | Rating: Buy | Target: Rs 495| Stop-loss: Rs 430 | Upside: 6 percent

Bajaj Finance | Rating: Buy | Target: Rs 2,392 | Stop-loss: Rs 2,260 | Upside: 5 percent

HCL Tech | Rating: Sell | Target: Rs 956 | Stop-loss: Rs 1,010 | Downside: 3 percent

Disclaimer: The views and investment tips expressed by investment expert on Moneycontrol are his own, and not that of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.
First Published on Oct 15, 2018 08:23 am
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