Moneycontrol
Last Updated : Jan 04, 2019 08:38 AM IST | Source: Moneycontrol.com

Market Headstart: Nifty likely to open flat; 3 stocks which could give 5-7% return

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 17.5 points or 0.16 percent. Nifty futures were trading around 10,702-level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is likely to open flat on Friday tracking muted trend seen in other Asian markets. The index closed 120 points lower at 10,672 on Thursday.

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 17.5 points or 0.16 percent. Nifty futures were trading around 10,702-level on the Singaporean Exchange.

Wall Street plunged on Thursday after slowing US factory activity on the heels of a dire revenue warning from Apple Inc fueled fears of a global economic slowdown, said a Reuters report.

Asian markets were on edge as dire US economic data slammed Wall Street and pushed investors to bet the Federal Reserve could reverse its policy tightening before the end of this year, it said.

The rupee weakened for the second straight session on January 3, slipping by 2 paise to 70.20 against the US dollar on robust foreign fund outflows amid rising trade deficit worries.

Stocks in news:

Nestle India: The Supreme Court revived the government case in National Consumer Disputes Redressal Commission (NCDRC) against Nestle India seeking damages of Rs 640 crore alleging unfair trade practices, false labeling, and misleading advertisements.

Homegrown retail major Future Enterprises said it has raised Rs 750 crore by allotting non-convertible debentures (NCDs) on a private placement basis.

Non-banking financial company Shriram Transport Finance Company Thursday said it plans to raise up to Rs 700 crore through non-convertible debentures (NCDs).

Jagran Prakashan Ltd (JPL), the publisher of leading Hindi daily Dainik Jagran, Thursday said its board has approved raising up to Rs 300 crore through issuance of non-convertible debentures (NCDs).

Technical Recommendations:

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

Ujjivan Financial Services: Buy| Target: Rs 305| Stop Loss: Rs 275| Upside 7%

Indiabulls Housing Finance Jan Futs: Sell| Target: Rs 770| Stop Loss: Rs 833| Downside 5%

Marico: Buy| Target: Rs 400| Stop Loss: Rs 367| Upside 6%

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 Jan 4, 2019 08:38 am
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