Moneycontrol
Last Updated : Jan 01, 2019 08:47 AM IST | Source: Moneycontrol.com

Market Headstart: Nifty likely to open flat; 3 stocks which could give 8-12% return

Nifty futures on the Singaporean Exchange indicate a flat start to indices here. The index futures were trading at 10,922.5, up 1 point on the SGX.

Moneycontrol News @moneycontrolcom

The Nifty50 is expected to open flat on Tuesday as most of the Asian markets remain shut on account of New Year holiday. The index closed 2 points higher at 10,862 on Monday.

Nifty futures on the Singaporean Exchange indicate a flat start to indices here. The index futures were trading at 10,922.5, up 1 point on the SGX.

Wall Street advanced in low-volume trading on Monday as revelers gathered to ring in 2019, marking the end of the worst year for U.S. stocks since 2008, the height of the financial crisis, Reuters reported.

Asian markets are shut today on account of New Year.

Crude oil, cement and fertilizer sector output growth pulled the eight core sector growth to a one-year low of 3.5 percent in November from 4.8 percent in September.

The Indian rupee on December 31 signed off the last trading session of 2018 with 18 paise gains at 69.77 per dollar but clocked a 9.23 percent fall during the year after witnessing its one of the tumultuous years in the recent past.

Stocks in news:

Mortgage lender HDFC on December 31 increased its retail prime lending rate (RPLR) by 10 basis points (bps), making housing loans costlier for new borrowers.

Drug maker Lupin said it has received approval from the US health regulator for Clobazam Oral Suspension, used to treat seizures associated with Lennox-Gastaut Syndrome.

The government Monday infused Rs 10,882 crore in four public sector banks, including UCO Bank and Syndicate Bank, as part of Rs 28,615 crore capital infusion to be done in about half a dozen public sector lenders.

Technical Recommendations:

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

Tech Mahindra Ltd: Buy| LTP: 723| Target: Rs 780 | Stop-Loss: Rs 690| Return 8%

Kalpataru Power: Buy| LTP: 392| Target: Rs 430| Stop-Loss: Rs 370| Return 10%

BHEL: Buy| LTP: 73| Target: Rs 82| Stop-Loss: Rs 69| Return 12%

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 1, 2019 08:47 am
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