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Last Updated : Jun 27, 2019 08:53 AM IST | Source: Moneycontrol.com

Market Headstart: Nifty likely to open flat; 3 stocks which could return 10-15%

Trends on SGX Nifty indicate a flat to negative opening for the broader index in India, a fall of 1.5 points or 0.01 percent. Nifty futures were trading around 11,867-level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is likely to open flat on Thursday tracking Asian markets which were trading mixed as investors await progress on trade talks between the US and China in the G20 meet.

“President Donald Trump said on Wednesday that a trade deal with Chinese President Xi Jinping was possible this weekend but warned he was prepared to impose U.S. tariffs on virtually all remaining Chinese imports if talks fail,” said a Reuters report.

“Wall Street had been equally circumspect, with the Dow ending Wednesday down 0.04%, while the S&P 500 lost 0.12% and the Nasdaq rose 0.32%,” it said.

Close

Trends on SGX Nifty indicate a flat to negative opening for the broader index in India, a fall of 1.5 points or 0.01 percent. Nifty futures were trading around 11,867-level on the Singaporean Exchange.

The S&P BSE Sensex rose 157 points to 39,592 while the Nifty50 closed 51 points higher at 11,847 on Wednesday.

The Indian rupee June 26 advanced by 21 paise to close at 69.15 against the US currency in line with an uptrend in domestic equities.

On the institutional front, FPIs were net buyers in Indian markets for Rs 106 cr while the DIIs were net sellers to the tune of Rs 51 cr, provisional data showed.

Stocks in news:

State-owned Canara Bank on June 26 said it has proposed to raise Rs 1,500 crore through bonds, to fund business growth.

Dewan Housing Finance Corporation Ltd (DHFL) June 26 said it will shortly divest its full stakes in subsidiary firms DHFL Pramerica Asset Managers and DHFL Pramerica Trustees.

Mindtree Chief Executive Officer Rostow Ravanan is likely to resign in the coming weeks with infrastructure major L&T becoming a majority shareholder in the mid-sized IT company, according to sources.

Technical Recommendations:

We spoke to Sanctum Wealth Management and here’s what they have to recommend:

Voltas Ltd: Buy| LTP: Rs 653| Stop Loss: Rs 620| Target: Rs 750| Upside 15%

State Bank of India: Buy| LTP: Rs 358| Stop Loss: Rs 340| Target: Rs 400| Upside 11%

Oberoi Realty Ltd: Buy| LTP: Rs 579| Stop Loss: Rs 540| Target: Rs 640| Upside 10%

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 Jun 27, 2019 08:36 am
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