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Last Updated : Jul 16, 2019 09:41 AM IST | Source: Moneycontrol.com

Market Headstart: Nifty likely to open flat; 3 stocks which could give 8-10% return

Trends on SGX Nifty indicate a flat to negative opening for the broader index in India, a fall of 7.5 points or 0.06 percent. Nifty futures were trading around 11,539-level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is expected to open flat-to-lower on Tuesday following muted trend seen in other Asian markets as analyst community awaits U.S. retail sales data and more corporate earnings to gauge the health of the world’s biggest economy.

On Monday, US markets closed flat after oscillating between positive and negative territory throughout the session after Citigroup Inc. kicked off the earnings season with a mixed quarterly report, said a Reuters report.

Trends on SGX Nifty indicate a flat to negative opening for the broader index in India, a fall of 7.5 points or 0.06 percent. Nifty futures were trading around 11,539-level on the Singaporean Exchange.

Close

The S&P BSE Sensex rose 160 points to 38,896 while the Nifty50 closed 35 points higher at 11,588 on Monday.

The rupee gained by 15 paise to close at 68.54 against the US dollar, thanks to the rise came due to gains in domestic equities and weakness in the greenback overseas.

On the institutional front, FPIs were net sellers in Indian markets for Rs 216 cr while DIIs were net buyers to the tune of Rs 591 cr, provisional data showed.

Stocks in news:

Tata Metaliks Limited (TML), a subsidiary of Tata Steel, has reported 36.45 percent year-on-year decline in net profit at Rs 19.42 crore for the first quarter ended June 30, 2019.

Aditya Birla Fashion and Retail Ltd (ABFRL) on July 15 said it will acquire a 51 percent stake in Indian fashion designers duo Shantanu & Nikhil's apparel firm Finesse International Design.

Commercial vehicle maker Ashok Leyland on Monday said that owing to the "weak demand and outlook for the industry", it will close its Pantnagar plant in Uttarakhand for 9 days, according to a report.

Technical Recommendations:

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

Biocon: Buy| LTP: Rs 253| Target: Rs 275| Stop-Loss: Rs 240|Upside 9%

UltraTech Cement: Buy| LTP: Rs 4597|Target: Rs 4920|Stop-Loss: Rs 4344| Upside 10%

CESC: Buy| LTP: Rs 785| Target: Rs 850| Stop-Loss: Rs 760| Upside 8%

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.

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First Published on Jul 16, 2019 08:48 am
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