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Last Updated : Dec 13, 2018 08:38 AM IST | Source: Moneycontrol.com

Market Headstart: Nifty likely to open higher; 3 stocks that could return 7-8%

Trends on the SGX Nifty indicate that the Nifty will open 41.50 points or 0.38 percent higher today. Nifty futures were trading around 10,830 on the Singaporean Exchange

The Nifty is likely to open higher on Thursday, tracking positive trends seen in other Asian markets. The index closed 188 points higher at 10,737 on Wednesday.

Trends on the SGX Nifty indicate that the Nifty will open 41.50 points or 0.38 percent higher today. Nifty futures were trading around 10,830 on the Singaporean Exchange.

US stocks too ended higher on Wednesday afternoon, but well below their session highs, as investors pulled back in the last few minutes of trade despite optimism about US-China trade relations and some reassuring signs in British politics, Reuters reported.

Close

Asian shares and the pound moved higher on Thursday as investors breathed a sigh of relief after British Prime Minister Theresa May survived a no-confidence vote, and as China appeared to be taking more steps to meet US' demands to open its markets, the news agency reported.

India's retail inflation eased to 2.3 percent in November, according to data released by the government on December 12. It stood at 4.88 percent in November last year and was 3.31 percent in October.

India’s industrial production (IIP) grew 8.1 percent in October, as against 4.5 percent in September, aided by a favourable base effect and robust output in all key sectors.

Stocks in the news:

Yes Bank board will meet on 13 December to consider appointment of a new chairman, two independent directors and the CEO search panel’s recommendation to appoint a successor to MD and CEO Rana Kapoor. The stock has fallen over 9 percent since November.

Sun Pharma: Markets regulator Sebi said it is examining the whistleblower complaint against Dilip Shanghvi-led Sun Pharmaceutical Industries. Remember, the stock rose 2.2 percent on Wednesday.

Drug maker Lupin said a court in Europe has upheld a decision to impose a fine of 40 million euros (over Rs 325 crore) on the company by European Commission (EC) in a litigation over blood pressure lowering drug Perindopril.

Technical Recommendations:

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

TVS Motor: Buy| LTP: Rs 570.60 | Target Rs 620| Stop Loss Rs 547| Return 8%

NTPC: Buy| LTP: Rs 140.70 | Target: Rs 150.50 | Stop Loss: Rs 136| Return 7%

GE T&D: Buy| LTP: Rs 247.35| Target Rs 270| Stop Loss Rs 237| Return 8%

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.
First Published on Dec 13, 2018 08:38 am
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