Moneycontrol
Last Updated : Oct 25, 2018 08:45 AM IST | Source: Moneycontrol.com

Market Headstart: Nifty likely to open gap-down; 3 stocks which could give 7-9% return

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 97 points or 0.95 percent. Nifty futures were trading around 10,140- level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is expected to open lower on Thursday following muted trend seen in other Asian markets. The index closed 77 points higher at 10,224 on Wednesday.

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 97 points or 0.95 percent. Nifty futures were trading around 10,140- level on the Singaporean Exchange.

US stocks plunged again on Wednesday, confirming a correction for the Nasdaq and erasing the Dow and the S&P 500’s gains for the year, as disappointing forecasts from chipmakers and weak home sales data fueled jitters about economic and profit growth, said a Reuters report.

Asian shares dived on Thursday as hundreds of billions of dollars hemorrhaged from global markets after a rout in tech stocks inflicted the largest daily decline on Wall Street since 2011, wiping out all its gains for the year, it said.

On the earnings front, 78 companies will be reporting their results for the quarter ended September later today which include names like Bharti Airtel, CEAT, DB Corp, Dish TV, Maruti Suzuki India, NIIT, PVR, Varun Beverages, and Yes Bank.

Stocks in news:

Bharti Infratel Q2: Profit falls to Rs 599.8 crore versus Rs 638 crore; revenue slips to Rs 3,668.3 crore versus Rs 3,673.5 crore QoQ.

Syngene International Q2: Profit rises 1 percent to Rs 78 crore versus Rs 77 crore; revenue increases 24 percent to Rs 437 crore versus Rs 352 crore YoY.

IDFC Bank Q2: Loss Rs 369.7 crore versus profit at Rs 233.66 crore; net interest income falls to Rs 451.2 crore versus Rs 461.88 crore YoY.

International Paper Q2: Profit jumps to Rs 37.44 crore versus Rs 5.75 crore; revenue rises to Rs 335.90 crore versus Rs 285 crore YoY.

L&T Finance Holdings Q2: Consolidated profit spikes to Rs 560.41 crore versus Rs 337.53 crore; revenue rises to Rs 3,246.3 crore versus Rs 2,596.7 crore YoY.

KPIT Technologies Q2: Consolidated profit rises to Rs 82.57 crore versus Rs 78.6 crore; revenue increases to Rs 1,078.9 crore versus Rs 1,013.84 crore QoQ.

Wipro Q2: IT services revenue grows 6.2 percent QoQ to Rs 14,380 crore; dollar revenue in constant currency terms rises 2.8 percent to $2,041.2 million QoQ.

Technical Recommendations:

We spoke to Bonanza Portfolio Ltd and here’s what they have to recommend:

RBL Bank: Buy| CMP: Rs.493.25 | Target Rs 537| Stop Loss Rs 468| Return 9%

SBI: Sell| CMP: Rs 255.70 | Target Rs 236.50 | Stop Loss Rs.266| Return 7.5%

HDFC LTD: Buy| CMP: Rs. 1741.45| Target: Rs 1890| Stop Loss Rs.1653| Return 9%

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 Oct 25, 2018 08:42 am
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