Moneycontrol
Last Updated : Oct 29, 2018 08:49 AM IST | Source: Moneycontrol.com

Market Headstart: Nifty likely to open higher; 3 stocks which could give 4-10%

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 56 points or 0.56 percent. Nifty futures were trading around 10,103-level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is likely to open higher on Monday following a mixed trend seen in other Asian markets. The index closed 94 points lower at 10,030 on Friday.

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 56 points or 0.56 percent. Nifty futures were trading around 10,103-level on the Singaporean Exchange.

The S&P 500 ended at its lowest level since early May on Friday and flirted with correction territory after technology and internet shares sold off further, capping another volatile week for US stocks, said a Reuters report.

Asian shares bounced from last week’s steep declines on Monday, though sentiment remained fragile amid heightened worries about corporate earnings and a slowdown in global economic growth, it said.

As many as 96 companies on the BSE will declare their results for the quarter ended September later today which include names like BPCL, Colgate Palmolive, Gruh Finance, HDFC Asset Management Company, Tata Power, Union Bank of India, Vijaya Bank etc. among others.

Stocks in news:

ICICI Bank Q2: Profit falls 55.8 percent to Rs 908.9 crore versus Rs 2,058.2 crore; net interest income increases 12.4 percent to Rs 6,417.5 crore versus Rs 5,709.1 crore YoY. Gross NPA at 8.54 percent versus 8.81 percent and net NPA at 3.65 percent versus 4.19 percent QoQ.

AAVAS Financiers Q2: Profit rises to Rs 35.28 crore versus Rs 32.86 crore; revenue jumps to Rs 163.62 crore versus Rs 128.03 crore YoY.

Nucleus Software Q2: Profit increases to Rs 19.14 crore versus Rs 17.59 crore; revenue rises to Rs 121.49 crore from Rs 112.61 crore QoQ.

Nestle India Q3: Profit jumps 30 percent to Rs 446.1 crore versus Rs 343.2 crore; revenue rises 16.9 percent to Rs 2,939.4 crore versus Rs 2,514.1 crore YoY.

PI Industries Q2: Profit rises 17.6 percent to Rs 94.4 crore versus Rs 80.3 crore; revenue jumps 28.9 percent to Rs 723 crore versus Rs 561.1 crore YoY.

Technical Recommendations:

We spoke to Way2Wealth Brokers Pvt. Ltd and here’s what they have to recommend:

HUL: Sell| Target: Rs 1,435| Stop Loss: Rs 1655| Time frame 15 to 21 trading sessions| Return 8%

Maruti Suzuki: Sell| Target: Rs 6000| Stop Loss: Rs 7000| Return 10.5%

HCL Technologies: Sell| Target: Rs 925| Stop loss 1013| | Return 4%

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 29, 2018 08:49 am
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