Moneycontrol
Last Updated : Oct 04, 2018 09:51 AM IST | Source: Moneycontrol.com

Markets Head Start: Nifty likely to open lower; 3 stocks which could give 7-10%

Trends on SGX Nifty indicate a flat to positive opening for the broader index in India, a rise of 10 points or 0.1 percent. Nifty futures were trading around 11,002-level on the Singaporean Exchange.

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The Nifty50 is likely to open gap-down on Thursday following a muted trend seen in other Asian markets. The index closed 150 points lower at 10,858 on Wednesday.

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 117 points or 1.08 percent. Nifty futures were trading around 11,766-level on the Singaporean Exchange.

Wall Street advanced on Wednesday and the Dow Jones Industrial Average closed at a record for a second day, after U.S. economic data fuelled a rise in Treasury yields, lifting financial stocks, said a Reuters report.

Asia markets are mostly higher this morning following a muted performance on Wall Street overnight. The Nikkei 225 is up 0.36 percent while the Topix advanced by 0.78 percent. The ASX 200 traded higher by 0.46 percent while the Kospi slid by 0.69 percent.

Stocks in news:

PTC India Financial Services: Board approved appointment of Dr Pawan Singh as Managing Director & CEO of the company and Sanjay Rustagi (Vice- President) as the Chief Financial Officer.

AU Small Finance Bank: CRISIL has upgraded rating of the company to AA-/Stable from A+/Positive.

L&T Financial Holding board meeting on October 8 to consider raising of funds NCD worth Rs 250 crore

IL&FS Transportation Networks: Interest due and payable on October 1, 2018 on the NCDs were not paid to the debenture holders due to insufficient funds.

Shriram Transport - Clarified with regard to the corporate guarantee given by the Company on June 30, 2015 in connection with NCD worth Rs 650 crore that the said corporate guarantee has been terminated with immediate effect

SRG Housing Finance: Nabsamruddhi Finance sanctioned credit facilities of Rs 12 crore.

KP Energy Q2FY19 Results: Profit jumps to Rs 7.06 crore versus Rs 1.01 crore; revenue rises to Rs 51.25 crore versus Rs 36.71 crore (YoY).

Technical Recommendations:

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

Motherson Sumi: Buy| CMP: Rs.242.85 | Target Rs 267| Stop Loss Rs.233| Return 10%

Adani Ports Ltd: Buy| CMP: Rs. 329.75 | Target Rs 357| Stop Loss Rs.316| Return 8%

Bata India Ltd: Sell| CMP: Rs. 915.30| Target Rs 845| Stop Loss Rs.957| Return 7.65%

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol are their own, and not that of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.
First Published on Oct 4, 2018 09:09 am
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