Moneycontrol
Last Updated : Oct 22, 2018 08:44 AM IST | Source: Moneycontrol.com

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

Trends on SGX Nifty indicate a flat to negative opening for the broader index in India, a loss of 11.5 points or 0.11 percent. Nifty futures were trading around 10,313- level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is likely to open flat on Monday following a mixed trend seen in other Asian markets. The index closed 149 points lower at 10,303 on Friday.

Trends on SGX Nifty indicate a flat to negative opening for the broader index in India, a loss of 11.5 points or 0.11 percent. Nifty futures were trading around 10,313- level on the Singaporean Exchange.

The US benchmark S&P 500 stock index edged lower on Friday as strong earnings from Procter & Gamble Co were offset by ongoing concerns about rising interest rates and tensions over trade policy denting economic growth, said a Reuters report.

Asian share markets fell anew on Monday as investors braced for the peak of the US earnings season while angst over Saudi Arabia, Italy and Brexit kept geopolitics front and center, it said.

Stocks in news:

Results on Monday: Asian Paints, CCL Products (India), Schaeffler India, Sundaram Finance Holdings, Hatsun Agro Product, Alembic Pharmaceuticals, Welspun India, Can Fin Homes, Manali Petrochemicals, Oberoi Realty, Kalyani Steels, Kalyani Investment Company etc.

HDFC Bank: HDFC Bank, the country's second largest private sector lender, has reported a healthy 20.6 percent year-on-year growth in Q2 FY19 profit to Rs 5,005.73 crore, driven by net interest income (NII), other income and operating income.

ICICI Lombard General Insurance's Q2 FY19 net profit grew 43.6 percent year-on-year to Rs 293.10 crore due to a reduction in expenses.

Private life insurer SBI Life Insurance posted a 11 percent year-on-year (YoY) increase in its September quarter net profit at Rs 250.53 crore. The new business premium for Q2FY19 saw a 9 percent increase YoY to Rs 2,221.92 crore.

Results on Monday: Asian Paints, CCL Products (India), Schaeffler India, Sundaram Finance Holdings, Hatsun Agro Product, Alembic Pharmaceuticals, Welspun India, Can Fin Homes, Manali Petrochemicals, Oberoi Realty, Kalyani Steels, Kalyani Investment Company etc.

Biocon: European Medicines Agency's Committee for Medicinal Products for Human Use (CHMP) has issued a positive opinion recommending approval of Ogivri 41, a biosimilar to Roche's Herceptin (trastuzumab).

Sadhana Nitrochem Q2: Profit surges to Rs 28.74 crore versus Rs 0.83 crore; revenue jumps to Rs 84.13 crore versus Rs 15.68 crore YoY.

Technical Recommendations:

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

ITC Ltd: Buy| Target: Rs. 306 | Stop-Loss: Rs. 275 | Return: 6%

NIIT Technologies Ltd: Buy| Target: Rs. 1,288| Stop-Loss: Rs 1,220 | Return: 4%

Avenue Supermart Ltd: Sell| Target: Rs 1,201 | Stop-Loss: Rs. 1,268 | Downside: 3%

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 Oct 22, 2018 08:44 am
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