Moneycontrol
Last Updated : Dec 06, 2018 08:49 AM IST | Source: Moneycontrol.com

Market Headstart: Nifty likely to open lower; 3 stocks that could return 5-8%

Trends on SGX Nifty indicate that the index will open 87.50 points or 0.81 percent lower in India

Moneycontrol News @moneycontrolcom

The Nifty is expected to open lower on Thursday, tracking muted trend seen in other Asian markets. The index closed 86 points down at 10,782 on Wednesday.

Trends on SGX Nifty indicate that the index will open 87.50 points or 0.81 percent lower in India. Nifty futures were trading at around 10,746 on the Singaporean exchange.

US stock futures tumbled on Thursday and Asian markets followed suit after Canadian authorities arrested a top executive of Chinese tech giant Huawei Technologies, fanning fears of further tensions between China and the US, Reuters reported.

Oil prices fell on Thursday in tepid trading ahead of a meeting of the oil cartel OPEC, which is expected to result in a supply cut aimed at draining a glut that has pulled down crude prices by 30 percent since October.

Stocks in the news:

Tata Motors: JLR UK's total sales increased to 9,055 units in November 2018 versus 8,895 units; Jaguar sales falls to 2,716 units versus 6,241 units and Land Rover sales rise to 6,339 units versus 6,241 YoY.

State-owned power equipment maker BHEL on December 5 said its share buyback offer worth Rs 1,628 crore would open on December 13.

The Cabinet will Thursday consider the proposal for PFC acquiring entire government holding in state-owned REC, which will fetch the government around Rs 15,000 crore.

Sagar Cement: Board approved a proposal to invest Rs 150 crore in Satguru Cement Private Limited (SCPL), Indore, Madhya Pradesh, to set-up a green field cement manufacturing plant of 1 million ton capacity

Technical Recommendations:

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

TCS: Buy| LTP: Rs 2,006.75 | Target: Rs 2,170| Stop Loss Rs 1,919| Return 8%

Dr Reddy's Laboratories: Sell| LTP: Rs 2,671.65 | Target: Rs 2,520 | Stop Loss Rs 2,746| Return 5.60%

Grasim Industries: Sell| LTP: Rs 826| Target Rs 760| Stop Loss: Rs 862| Return 8%

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 Dec 6, 2018 08:41 am
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant