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Last Updated : May 07, 2019 08:52 AM IST | Source: Moneycontrol.com

Market Headstart: Nifty likely to open higher; 3 stocks which could give 11-14% return

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 32 points or 0.27 percent. Nifty futures were trading around 11,688-level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is likely to open higher on Tuesday following positive trend seen in other Asian markets, but it is hovering near 5-week low. Overnight, US markets closed lower after President Donald Trump pledged to raise tariffs on Chinese goods.

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 32 points or 0.27 percent. Nifty futures were trading around 11,688-level on the Singaporean Exchange.

US stocks fell on Monday after President Donald Trump pledged to raise tariffs on Chinese goods, though Wall Street finished well off its session lows as some investors saw Trump’s comments as a bargaining tactic and expressed confidence in an eventual trade agreement, said a Reuters report.

Asian shares wallowed near five-week lows on early Tuesday after US President Donald Trump’s threat to raise tariffs re-ignited worries about US-China trade tensions while Japan’s Nikkei opened down after a 10-day break, it said.

As many as 33 companies are scheduled to declare their results for the quarter ended March which include names like ABB India, Escorts, Jyothy Laboratories, Mahindra Logistics, Vedanta, VIP Industries and Sun Pharma Advanced Research Company among others.

Stocks in news:

ICICI Bank reported a 5 percent drop in fourth-quarter profit on Monday, missing estimates after being hit by a rise in expenses and a higher accumulation of bad loans.

Bharti Airtel May 6 reported a 24 percent sequential jump in its fourth-quarter FY19 net profit to Rs 107.2 crore helped by an exceptional gain of Rs 2,022 crore. Analysts were expecting a net loss of over Rs 1,000 crore.

HDFC Bank on May 6 said it will consider a proposal for sub-division of shares from one equity share with a face value of Rs 2 each to two shares with a face value of Re 1 each.

Infrastructure major Larsen & Toubro May 6 bought shares worth about Rs 113 crore of Mindtree through open market transactions.

Technical Recommendations:

We spoke to YES Securities and here's what they have to recommend:

Star Cement Limited: Buy| Target: Rs 124| Stop Loss: Rs 102| Upside 14%

PNC Infratech Ltd: Buy| Target: Rs 175| Stop Loss: Rs 145| Upside 14%

Blue Star Ltd: Buy| Target: Rs 790| Stop Loss: Rs 680| Upside 11%

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 May 7, 2019 08:45 am
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