Moneycontrol
Last Updated : Oct 10, 2018 08:52 AM IST | Source: Moneycontrol.com

Market Headstart: Nifty likely to open higher; 3 stocks which could give 6-7%

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 40 points or 0.4 percent. Nifty futures were trading around 10,353-level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is likely to open higher on Wednesday following a mixed trend seen in other Asian markets. The index closed 47 points lower at 10,301 on Tuesday.

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 40 points or 0.4 percent. Nifty futures were trading around 10,353-level on the Singaporean Exchange.

The Dow and S&P 500 ended slightly lower on Tuesday as investors, worried about global growth prospects, fled from materials and industrials stocks but falling bond yields kept declines in check in the three major indexes, said a Reuters report.

Asian shares steadied in early Wednesday trade after world stocks hit eight-week lows the previous day on worries about global economic growth, although the pound stayed firm on hopes for a Brexit deal, it said.

The rupee fell 33 paise on October 9 to finish at a fresh lifetime low of 74.38 against the US dollar on high crude oil prices, strengthening of the greenback and unabated foreign fund outflows.

Stocks in news:

Results today: Zee Entertainment Enterprises, Bandhan Bank, Uttam Galva Steels, Indiabulls Ventures.

NBFC stocks will be in focus after the country's largest lender State Bank of India (SBI) has come out in support of non-bank lenders, stating there is still opportunity to buy up to Rs 30,000 crore more of their loans.

Dr. Reddy's Laboratories on Tuesday said it has launched cholesterol-lowering medication Colesevelam HCI tablets in the United States.

Garden Reach Shipbuilders & Engineers will make a debut on bourses on October 10. Remember, the issue saw a tepid response for the Rs 345-crore public issue despite a change in price band and extending IPO subscription period.

Bharat Forge-NTPC decided to close down the JV BF-NTPC

Indian Overseas Bank: CRISIL has assigned its rating of 'A+/Stable' for the proposed issue of Rs 300 crore Tier II Bonds (under Basel III).

Technical Recommendations:

We spoke to SMC Global Securities and here’s what they have to recommend:

ACC Limited: Sell| Target: Rs 1390| Stop Loss: Rs 1535| Return 6%

Exide Industries Limited: Sell| Target: Rs 229| Stop Loss: Rs 258| Return 7%

Hindustan Unilever Limited: Sell| Target: Rs 1424| Stop Loss: Rs 1565| Return 6%

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 10, 2018 08:48 am
Loading...
Sections
Follow us on
Available On