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Last Updated : Jan 18, 2019 08:54 AM IST | Source: Moneycontrol.com

Market Headstart: Nifty likely to open higher; 2 stocks which could give 16-17% return

Trends on SGX Nifty indicate a gap up opening for the broader index in India, a rise of 64 points or 0.59 percent. Nifty futures were trading around 10,984- level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is expected to open higher on Friday tracking positive trend seen in other Asian markets. The Nifty50 closed 14 points higher at 10,905 on Thursday.

Trends on SGX Nifty indicate a gap up opening for the broader index in India, a rise of 64 points or 0.59 percent. Nifty futures were trading around 10,984- level on the Singaporean Exchange.

US stocks advanced on Thursday as a published report that the United States was considering lifting tariffs on Chinese imports lifted investor sentiment, said a Reuters report.

Asian stocks gained early on Friday, as hopes for a thaw in the US-China trade conflict fed investor appetites for risk assets, it said.

On the earnings front, as many as 26 companies will report their results for the quarter ended December which include companies like Atul, Dhanlakshmi Bank, L&T Infotech, NIIT Technologies, Wipro, and ZEE Learn etc. among others.

Stocks in news:

Reliance Industries has reported a better-than-expected 7.7 percent sequential growth in the third quarter consolidated net profit at Rs 10,251 crore, driven by other income as well as telecom and retail segments.

CLSA: Buy| Target Rs 1500

Macquarie: Outperform| Target 1,315

Hindustan Unilever Ltd.’s quarterly profit rose at its slowest pace in over a year, even as it delivered double-digit volume growth for the fifth straight quarter. Net profit rose 9 percent year-on-year to Rs 1,444 crore in the quarter ended December.

Jefferies maintains a neutral: Raise target to Rs 1770 from Rs 1650

CLSA: Outperform| Target Rs 2010

Technical Recommendations:

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

Siemens: Buy| LTP: Rs 1062| Target: Rs 1230| Stop Loss: 961| Upside 16%| Time Frame 6 months

Bharti Airtel: Buy| LTP: Rs 332 Target: 388| Stop Loss: Rs 302| Upside 17%| Time Frame 6 months

Disclaimer: The above report is compiled from information available on public platforms. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
First Published on Jan 18, 2019 08:44 am
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