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Last Updated : Feb 11, 2019 08:29 AM IST | Source: Moneycontrol.com

Market Headstart: Nifty likely to open flat; 3 stocks which could give 7-12% return

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 35 points or 0.32 percent. Nifty futures were trading around 10,911-level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is expected to open flat-to-lower on Monday tracking muted trend seen in other Asian markets. The index closed 125 points lower at 10,943 on Friday.

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 35 points or 0.32 percent. Nifty futures were trading around 10,911-level on the Singaporean Exchange.

The benchmark S&P 500 index and the Nasdaq edged upward to snap a two-day losing streak on Friday as positive corporate results offset lingering skepticism over the United States and China reaching a trade deal before the March 1 deadline, said a Reuters report.

Asian shares started the week on the backfoot on Monday as worries about global growth, US politics and the ongoing Sino-US tariff war kept investors cautious, while the safe-haven greenback held near a six-week top against major currencies, added the report.

On the earnings front, as many as 312 companies on the BSE will declare their results for the quarter ended December on Monday which include names like Andhra Bank, Astral Poly, CARE Ratings, Corporation Bank, Eicher Motors, India Cements, JBM Auto, KNR Construction, Max India, Motherson Sumi, PI Industries, Repro India, SpiceJet etc. among others.

Stocks in news:

IDFC on February 9 reported an 11-fold jump in net profit for the December quarter at Rs 26.28 crore, mainly due to a tax adjustment. The company's standalone net profit stood at Rs 2.40 crore in the quarter ended December 31, 2017, it said in a statement.

Drug maker Lupin on February 9 said it got two observations from US drug regulator for its crucial Goa manufacturing site, which is under warning letter.

Tata Steel reported a surge of 53 percent (year on year) in its net profit for the December quarter at Rs 1,751 crore. The company had reported a profit of Rs 1,144 crore during the same quarter of last year.

Technical Recommendations:

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

Wockhardt Ltd: Buy| LTP: 415.15| Target: Rs 468| Stop Loss: Rs 395.80| Upside 12%

Bajaj Finance Ltd: Buy| LTP: Rs 2702| Target: Rs 2898| Stop Loss: Rs 2620| Upside 7%

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 Feb 11, 2019 08:27 am
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