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Last Updated : Apr 16, 2019 08:47 AM IST | Source: Moneycontrol.com

Market Headstart: Nifty likely to open higher; 3 stocks which could give 5-7% return

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 13 points or 0.11 percent. Nifty futures were trading around 11,750-level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is likely to open higher on Tuesday following a positive trend in Asian markets. The index closed 46 points higher at 11,690 on Monday.

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 13 points or 0.11 percent. Nifty futures were trading around 11,750-level on the Singaporean Exchange.

Wall Street lost ground on Monday, dragged down by financials as underwhelming bank earnings curbed investor enthusiasm, said a Reuters report.

Close

Asian stocks hovered below a nine-month peak on Tuesday after disappointing bank earnings dented Wall Street, though recent signs the global economy is likely to avoid a sharper downturn helped limit the losses, it said.

The rupee on Monday declined by 25 paise to close at 69.42 against the US dollar as forex traders turned cautious in a holiday-truncated week.

Stocks in news:

Wires and cables manufacturer Polycab India will make a debut on bourses on April 16 after an overwhelming response to its public issue last week. The final issue price is fixed at the higher end of the price band of Rs 533-538 per share.

Tata Metaliks Ltd, a pig iron manufacturer and supplier, said Monday its net profit rose by 17.74 percent to Rs 64.35 crore during the quarter ended March 31, 2019.

Jet Airways' survival remained under serious threat after its lenders Monday deferred a much-anticipated decision to provide emergency funds to the carrier following a marathon meeting, even as its pilots' union appealed to the lenders and the prime minister to save the airline.

Technical Recommendations:

We spoke to Religare Broking Ltd and they have recommended a mix of a buy or sell ideas:

Zee Entertainment Enterprises Ltd: Sell April Futures| Target: Rs 395|Stop-Loss: Rs 434 | Downside 5.9%

Century Textiles & Industries Ltd: Buy| Target: Rs 975| Stop-Loss: Rs 900| Return 5.4%

L&T Finance Holdings Ltd: Buy| Target: Rs 162| Stop-Loss: Rs 146|Upside 7.2%

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.

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First Published on Apr 16, 2019 08:39 am
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