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Last Updated : Mar 07, 2019 08:29 AM IST | Source: Moneycontrol.com

Market Headstart: Nifty50 likely to open flat; 3 stocks which could give 7-9% return

Trends on SGX Nifty indicate a flat to positive opening for the broader index in India, a rise of 5.5 points or 0.05 percent. Nifty futures were trading around 11,102-level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is expected to open flat on Thursday following a mixed trend seen in other Asian markets. The index closed 65 points higher at 11,053 on Wednesday.

Trends on SGX Nifty indicate a flat to positive opening for the broader index in India, a rise of 5.5 points or 0.05 percent. Nifty futures were trading around 11,102-level on the Singaporean Exchange.

Wall Street’s main indexes fell for the third session on Wednesday, with the S&P 500 posting its biggest one-day decline in a month, as healthcare and energy shares slumped and investors sought reasons to buy after the market’s strong rally to start the year, said a Reuters report.

Close

Asian shares rose marginally in early trade on Thursday, with caution prevailing as investors awaited some kind of resolution to Sino-US trade negotiations, while the euro remained under pressure ahead of the European Central Bank meeting, it said.

The rupee rallied by 21 paise to close at 70.28 against the US dollar Wednesday on easing crude oil prices even as the greenback strengthened vis-a-vis other major currencies.

Stocks in news:

Biotechnology major Biocon on Wednesday said the US health regulator has issued six observations in Form 483 after pre-approval inspection of its insulin drug substance manufacturing facility in Bengaluru.

S&P Global Ratings on Wednesday said Bharti Airtel's proposed rights issue of up to Rs 25,000 crore is not enough to stabilise its credit rating.

Promoters of Relaxo Footwears have sold over 24 lakh shares or close to 2 per cent stake in the company for an estimated sum of over Rs 181 crore.

Technical Recommendations:

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

Kaveri Seed Company Ltd: Buy| CMP: Rs.426.55 | Target: Rs 465| Stop Loss: Rs 412| Return 9%

Tata Elxsi: Buy| CMP: Rs 950.10 | Target: Rs 1026| Stop Loss: Rs.912 | Return 8%

Sun Pharma: Buy| CMP: Rs.460.55 | Target: Rs 495| Stop Loss Rs 444| Return 7.50%

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.

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First Published on Mar 7, 2019 08:29 am
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