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Last Updated : Apr 09, 2019 08:45 AM IST | Source: Moneycontrol.com

Market Headstart: Nifty likely to open flat; 3 stocks which could give 4-7% return

Trends on SGX Nifty indicate a flat opening for the broader index in India, a slip of 1 point or 0.01 percent. Nifty futures were trading around 10,682-level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is likely to open flat on Tuesday following muted trend seen in other Asian markets. The index closed 61 points down at 11604 on Monday.

Stocks in news:

The S&P 500 and the Nasdaq edged into positive territory on Monday, with gains held in check by falling industrials as investors braced for what analysts now expect to be the first quarter of contracting earnings since 2016, said a Reuters report.

Asian shares got off to a subdued start on Tuesday as investors braced for key events later in the week, including the kick-off of the US earnings season and a crucial Brexit summit, while broader concerns over slowing global growth checked sentiment, it said.

The rupee declined by 44 paise to close at 69.67 against the US dollar Monday amid higher dollar demand from importers and rising crude oil prices.

Stocks in news:

Bharti Airtel has received approval from the Securities and Exchange Board of India (SEBI) for a rights approval worth Rs 24,000 crore.

HPL Electric & Power: EQ India Fund purchased 3,27,000 shares of HPL Electric & Power at Rs 60.22 per share. The stock rallied nearly 10 percent on Monday.

DLF: Government of Singapore sold 6,79,87,184 shares of DLF, the country's largest real estate company, at Rs 191.01 per share while Societe Generale was the buyer to the tune of 2,08,85,987 shares at Rs 191 per share. The stock slipped 8 percent.

Technical Recommendations:

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

Shriram Transport Finance Company Ltd: Buy| Target: Rs 1340| Stop-Loss: Rs 1200| Return 7.2%

Marico Limited: Buy| Target: Rs 380| Stop-Loss: Rs 345| Return 6.4%

Sun Pharmaceutical Industries Limited: Sell April Futures| Target: Rs 448|Stop-Loss: 480| Downside 4.3%

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 Apr 9, 2019 08:40 am
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