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Last Updated : Jan 30, 2019 08:45 AM IST | Source: Moneycontrol.com

Market Headstart: Nifty likely to open flat; 3 stocks which could give 5-9% return

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 6.5 points or 0.06 percent. Nifty futures were trading around 10,687-level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is likely to open flat on Wednesday tracking muted trend seen in other Asian markets. The index closed 9 points lower at 10,652 on Tuesday.

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 6.5 points or 0.06 percent. Nifty futures were trading around 10,687-level on the Singaporean Exchange.

Wall Street was mixed on Tuesday, with Alphabet, Facebook and other technology-related shares dipping, while a rebound in 3M and other industrials elevated the Dow Jones Industrial Average, said a Reuters report.

Asian equities eked out modest gains on Wednesday as investors seized on Apple Inc’s earnings and comments from its chief that US-China trade tensions were easing, sending the iPhone maker’s shares soaring in after-hours trade, it said.

As many as 88 companies will report their results for quarter ended December which include names like Jubilant FoodWorks, Bajaj Auto, Indian Oil, LIC Housing Finance etc. among others.

Stocks in news:

Bank of Baroda posted a 321.6 percent year-on-year (YoY) increase in its December quarter net profit at Rs 471.21 crore on strong growth in interest income and improved asset quality.

Private lender Axis Bank reported 131 percent jump in its Q3FY19 net profit at Rs 1,681 crore, beating market estimates. Net interest income (NII) was up 18 percent at Rs 5603.6 crore versus Rs 4,732 crore in Q3FY18.

HCL Technologies on Tuesday reported a 19 percent YoY rise in profit at Rs 2,611 crore for December quarter. It was up 2.8 percent on a sequential basis.

Technical Recommendations:

We spoke to SMC Global Securities Ltd and here’s what they recommend:

MindTree Limited: Buy| Target: Rs 976| Stop Loss: Rs 840| Upside 9%

RBL Bank Limited: Sell| Target: Rs 525| Stop Loss: Rs 580| Downside 6%

Colgate Palmolive (India) Limited: Sell| Target: Rs 1210| Stop Loss: Rs 1315| Downside 5%

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 30, 2019 08:45 am
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