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Last Updated : Apr 22, 2019 08:38 AM IST | Source: Moneycontrol.com

Market Headstart: Expect Nifty to open flat; 3 stocks which could give 6-10% return

A flat to negative opening is likely as Nifty Futures on Singaporean Exchange were trading 8 points lower. The futures traded around 11,800-odd levels.

Moneycontrol News @moneycontrolcom

The Nifty50 is expected to open flat on Monday following muted trend seen in other Asian markets as Crude oil hits 5-month peak. The index closed 34 points lower at 11,752 on Thursday.

A flat to negative opening is likely as Nifty Futures on Singaporean Exchange were trading 8 points lower. The futures traded around 11,800-odd levels.

Brent futures rallied to a five-month high, after the Washington Post said U.S. Secretary of State Mike Pompeo will announce “that as of May 2, the State Department will no longer grant sanctions waivers to any country that is currently importing Iranian crude or condensate," said a Reuters report.

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Industrials led the S&P 500 and the Dow moderately higher on Thursday after robust US economic data and some healthy corporate earnings reports. Asian stocks were steady on Monday as investors awaited the return of major financial markets from the Good Friday holiday, said the report.

The Indian rupee Friday staged a strong comeback by regaining 25 paise to 69.35 against the US dollar after three sessions of losses amid sustained foreign fund inflows.

As many as 15 companies on the BSE will declare their results for the quarter ended March which include names like AU Small Finance, Mahindra Lifespace and Shiva Cement among others.

Stocks in news:

Reliance Industries Q4: The Net profit stood at Rs 10,362 crore, while revenues were down 11.3% at Rs 1.38 lakh crore. The Gross refining margin at USD 8.20/bbl. Rel Jio Q4 net profit up 1.1% at Rs 840 crore; FY 19 profit up 309% at to Rs 2,964 crore, YoY.

HDFC Bank Q4: Net profit rises 22.6 percent to Rs 5,885.1 crore, net interest income increases 22.8 percent to Rs 13,089.5 crore YoY.

State Bank of India on April 18 said it plans to raise $2.5 billion (about Rs 17,000 crore) through bonds to fund the expansion of the overseas business.

Technical Recommendations:

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

Hero MotoCorp Ltd: Buy| LTP: Rs.2739.65| Target: Rs 2950|Stop Loss: Rs 2640|Return 7.66%

IndusInd Bank: Buy| LTP: Rs.1764| Target: Rs 1942|Stop Loss: Rs 1749|Return 10%

HUL: Buy| LTP: Rs.1737.45 | Target Rs 1842| Stop Loss: Rs 1679|Return 6%

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 Apr 22, 2019 08:32 am
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