Moneycontrol
Last Updated : Jan 02, 2019 08:52 AM IST | Source: Moneycontrol.com

Market Headstart: Nifty50 likely to open flat; 3 stocks which could give 7-10% return

Trends on SGX Nifty indicate a flat opening for the broader index in India, a rise of 11 points or 0.11 percent. Nifty futures were trading around 10,934-level on the Singaporean Exchange.

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The Nifty50 is likely to open flat on Wednesday tracking muted trend seen in other Asian markets. The index closed 47 points higher at 10,910 on Tuesday.

Trends on SGX Nifty indicate a flat opening for the broader index in India, a rise of 11 points or 0.11 percent. Nifty futures were trading around 10,934-level on the Singaporean Exchange.

Asian shares crept cautiously higher on the first trading day of the new year as early gains in US stock futures spoke of some improvement in risk appetite.

The Indian rupee kicked off 2019 on a resounding note, building up on gains of the previous two sessions and adding another 34 paise on January 1 to close at 69.43 against the US dollar.

Stocks in news:

The Reserve Bank of India (RBI) on Tuesday introduced a one-time restructuring scheme for micro, small and medium enterprises (MSMEs) with a maximum exposure of Rs 25 crore.

Private sector lender Karnataka Bank on January 1 said it has revised upward MCLR by 0.15 percent to 9.10 percent for one-year tenor. The revised marginal cost of fund-based lending rate (MCLR).

Tata Motors reported an 8 percent decline in domestic sales to 50,440 units in December as compared with 54,627 units in the same month last year. Remember, the stock cracked over 60% in 2018.

Aurobindo Pharma USA Inc is recalling 80 lots of tablets used for the treatment of high blood pressure and heart failure from the American market due to the presence of impurity that may cause cancer in humans, the company said.

Technical Recommendations:

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

DCB Bank Limited: Buy| Target: Rs 179| Stop Loss: Rs 156| Return 8%

ICICI Bank Limited: Buy| Target: Rs 386| Stop Loss: Rs 345| Return 7%

Escorts Ltd: Buy| Target: Rs 785| Stop Loss: Rs 660| Return 10%

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 2, 2019 08:45 am
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