Market Headstart: Nifty likely to open flat; 3 stocks which could give 7-8% return

The Nifty50 is expected to open flat-to-higher on Wednesday tracking positive trend seen in other Asian markets. The index closed 44 points higher at 11,713 on Tuesday.

A positive opening is likely as Nifty Futures on Singaporean Exchange were trading over 8.5 points higher. The futures traded around 11,795-odd levels.

The benchmark S&P 500 stock index paused on Tuesday, taking a breather from Monday’s strong quarterly kickoff as a decline in shares of Walgreens Boots Alliance Inc weighed and economic data did little to ease growth concerns, said a Reuters report.

Asian shares hovered near seven-month highs early on Wednesday as global investors paused for breath after the strong rally seen earlier this week, while oil approached the key USD 70 per barrel mark, it said.

The rupee on Tuesday recovered from the day's low to finally settle at 68.74 against the US dollar with gains of 40 paise amid sustained foreign fund inflows and heavy buying in domestic equities.

Stocks in news:

IPO: Metropolis Healthcare opens for subscription on April 3. It is an offer for sale by promoters, which will close on April 5. The price band for the IPO has been fixed in the range of Rs 877-880 per equity share.

Jet Airways: Company makes new roster for Boeing 737 pilots from April 11-26 - CNBC-TV18 Sources. Jet Airways now has a little over 30 aircraft in its fleet, down from 119 planes. More aircraft were grounded after default on payments to lessors.

Infosys: Subsidiary gets order from Kuwait’s Ahli United Bank for automation services. Jet Airways has offered a six-month sabbatical to its pilots.

Technical Recommendations:

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

L&T Technology Services Limited: Buy| LTP: Rs 1632| Target: Rs 1760| Stop Loss: Rs 1550| Upside 7.8%

Torrent Power Ltd: Buy| LTP: Rs 263| Target: Rs 285| Stop Loss: Rs 251| Upside 8%

Delta Corp: Buy| LTP: Rs 272| Target: Rs 292| Stop Loss: Rs 252| Upside 7%

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