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Last Updated : Mar 06, 2019 08:42 AM IST | Source: Moneycontrol.com

Market Headstart: Nifty likely to open higher; 3 stocks which could give 9-12% return

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 29.5 points or 0.27 percent. Nifty futures were trading around 11,062-level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is expected to open higher on Wednesday following positive trend seen in other Asian markets. The index closed 123 points higher at 10,987 on Tuesday.

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 29.5 points or 0.27 percent. Nifty futures were trading around 11,062-level on the Singaporean Exchange.

Wall Street’s main indexes dipped in a choppy session on Tuesday as a drop in General Electric shares countered positive retailer earnings and investors eyed a key resistance level for the benchmark S&P 500 after the market’s strong run, said a Reuters report.

Close

Asian stocks clung to tight ranges on Wednesday, as investors awaited fresh directional cues from US-China trade negotiations and a weaker Wall Street finish capped broader gains, while robust US economic data supported the dollar, it said.

The rupee rebounded by 43 paise to close at 70.49 against the US dollar Tuesday largely driven by positive macro data and easing crude prices.

Stocks in news:

Telecom operators Vodafone Idea, Bharti Airtel and Reliance Jio have paid the government about Rs 6,000 crore in spectrum dues slated for March 03, but debt-ridden Reliance Communications has so far not deposited its dues of Rs 21.5 crore, sources said.

Leading cigarette maker ITC has increased the price of three brands - Bristol, Flake Excel and Capstan. The Kolkata-headquartered company has increased the prices by about 7 percent to 14 percent.

Apollo Tyres, the country's second-largest tyre manufacturer by tonnage, has lined up capital expenditure of Rs 2,500-3,000 crore for coming financial year.

Technical Recommendations:

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

Muthoot Finance Limited: Buy| Target: Rs 635| Stop Loss: Rs 525| Upside 12%

Godrej Industries Limited: Buy| Target: Rs 540| Stop Loss: Rs 470| Upside 9%

AIA Engineering Limited: Buy| Target: Rs1985| Stop Loss: Rs 1650| Upside 12%

Disclaimer: The views and investment tips expressed by investment experts 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 Mar 6, 2019 08:41 am
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