Market Headstart: Nifty likely to open lower; 3 stocks which could give 8-10% return

The Nifty50 is expected to open lower on Tuesday largely on geopolitical concerns. The index closed 88 points higher at 10,880 on Monday.

Trends on SGX Nifty indicate a flat to negative opening for the broader index in India, a fall of 92 points or 0.84 percent. Nifty futures were trading around 10,800.50-level on the Singaporean Exchange.

Wall Street’s three major indexes ended higher on Monday but well below the session’s highs after President Donald Trump said he would delay a planned hike in tariffs on Chinese imports, said a Reuters report.

MSCI’s broadest index of Asia-Pacific shares outside Japan held near its highest since mid-September as US and Chinese negotiators work to hammer out a deal that would end a tit-for-tat tariff battle that began in mid-2018, it said.

The Indian rupee on Monday firmed up by 17 paise to close at 70.97 against the US dollar in line with most Asian currencies amid hopes that the US and China will soon reach an agreement to settle their trade tariff issues.

Stocks in news:

Drug firm Lupin Monday said it has received approval from the US health regulator to market Methylprednisolone tablets used for the treatment of inflammation in many conditions.

Travel services provider Thomas Cook India Group Monday said it has acquired 51 percent stake in imaging solutions and services firm Digiphoto Entertainment Imaging (DEI), at an enterprise value of $40.6 million (around Rs 289 crore).

GE T&D India on Monday said it has bagged a Rs 162 crore order from Power Grid Corporation to set up a high-voltage substation in Bhuj for evacuating 2,500 MW of wind power.

Technical Recommendations:

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

HCL Technologies Ltd: Buy| LTP: Rs 1083.50| Target: Rs. 1190| Stop-loss: Rs 1026 | Upside 10%

SRF Ltd: Buy| LTP: Rs 2243| Target: Rs 2445| Stop-Loss: Rs 2155| Upside 10%

Torrent Pharma Ltd: Buy| LTP: Rs 1812|Target: Rs 1962 |Stop-Loss: Rs 1710| Upside 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