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Last Updated : Mar 13, 2019 08:46 AM IST | Source: Moneycontrol.com

Market Headstart: Nifty likely to open flat; 3 stocks which could give 9-12% return

Trends on SGX Nifty indicate a flat to negative opening for the broader index in India, a fall of 8.5 points or 0.08 percent. Nifty futures were trading around 11,323-level on the Singaporean Exchange.


The Nifty50 is likely to open flat on Wednesday following muted trend seen in other Asian markets. The index closed 133 points higher at 11,301 on Tuesday.

Trends on SGX Nifty indicate a flat to negative opening for the broader index in India, a fall of 8.5 points or 0.08 percent. Nifty futures were trading around 11,323-level on the Singaporean Exchange.

The S&P 500 and the Nasdaq rose on Tuesday after tame inflation data underscored the Federal Reserve’s dovish stance on interest rate hikes, but the Dow ended lower as Boeing’s shares sank for a second day after one of its planes crashed in Ethiopia, said a Reuters report.

Close

Asian share markets got off to a subdued start on Wednesday after a mixed finish on Wall Street, while a frazzled pound awaited its fate ahead of yet another make-or-break parliamentary vote on Brexit, it said.

The rupee on Tuesday gained 18 paise to close at more than two-month high of 69.71 against the US dollar propelled by foreign capital inflows and a weaker greenback in overseas markets.

Stocks in news:

The Bombay High Court on Tuesday once again refused to give any interim relief to Kotak Mahindra Bank in its row with the RBI over a regulatory diktat to pare promoter's holding in the fourth largest private sector lender.

Jet Airways & SpiceJet will be in focus as India grounds Boeing Co’s 737 MAX aircraft immediately, following the fatal crash of a plane of the same type in Ethiopia on Sunday. Jet Airways Ltd and SpiceJet Ltd, two top Indian airlines, operate Boeing 737 MAX 8 aircraft.

Jet Airways Ltd said on Tuesday it grounded four more aircraft, taking the number to 32 which is more than a fourth of its fleet, as the carrier failed to make payments to its lessors.

Auto component firm Mahindra CIE Automotive on Tuesday said its board has approved to buy Aurangabad Electricals Ltd (AEL) for Rs 875.6 crore.

Technical Recommendations:

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

Aurobindo Pharma Limited: Buy| Target: Rs 855| Stop Loss: Rs 725| Upside 11%

Cholamandalam Investment and Finance Company Limited: Buy| Target: Rs 1524| Stop Loss: Rs 1270| Upside 12%

IndusInd Bank Limited: Buy| Target: Rs 1702| Stop Loss: Rs 1480| Upside 9%

Disclaimer: The views and investment tips expressed by investment experts 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 Mar 13, 2019 08:41 am
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