Moneycontrol
Last Updated : Jan 24, 2019 08:42 AM IST | Source: Moneycontrol.com

Market Headstart: Nifty likely to open higher; 3 stocks which could give 7-9% return

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 26 points or 0.24 percent. Nifty futures were trading around 10,867-level on the Singaporean Exchange.

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The Nifty50 is likely to open higher on Thursday following positive trend seen in other Asian markets. The index closed 91 points lower at 10,831 on Wednesday.

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 26 points or 0.24 percent. Nifty futures were trading around 10,867-level on the Singaporean Exchange.

Piyush Goyal has been named the interim Finance Minister and interim Minister of Corporate Affairs during Arun Jaitley's indisposition.

Wall Street ended slightly higher on Wednesday after a spate of upbeat earnings reports, but lingering concerns about trade tensions and the longest US government shutdown ever limited the advance, said a Reuters report.

Asian shares rose on Thursday after Wall Street managed to end higher, but gains were capped by political uncertainty in the United States and worries about weakening global economic growth, it said.

On the earnings front, 69 companies will report results for the quarter ended December later today which include names like Biocon, Yes Bank, UltraTech Cements, Colgate Palmolive, PNB Housing Finance etc. among others.

Stocks in news:

Debt-ridden telecom firm Reliance Communications on Wednesday said it will not be paying the fourth installment of Rs 375 crore principal amount on non-convertible debenture, which is due on February 7.

Liquor major United Spirits on Wednesday reported a 42.83 percent increase in its standalone net profit to Rs 192.4 crore for the quarter ended December 31 backed by a healthy sales growth.

Tower company Bharti Infratel on Wednesday posted an 11 percent rise in consolidated net profit at Rs 648 crore for the December quarter.

Technical Recommendations:

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

Dishman Carbogen: Buy| LTP: Rs.219.25 | Target: Rs 240| Stop Loss: Rs.212| Return 9.50%

Tata Steel: BUY| LTP: Rs.464.60 | Target Rs 505| Stop Loss: Rs.445| Return 8.60%

D-Mart: Buy| LTP: Rs.1397.30 | Target: Rs 1470-1500| Stop Loss: Rs.1349| Return 7%

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 Jan 24, 2019 08:42 am
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