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Last Updated : Oct 03, 2018 11:06 AM IST | Source: Moneycontrol.com

Market Head Start: Nifty likely to open flat; 3 stocks which could give 8-9%

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 33.5 points or 0.31 percent. Nifty futures were trading around 10,991-level on the Singaporean Exchange.

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The Nifty50 is likely to open on a flat-to-positive note on Wednesday following a mixed trend seen in other Asian markets. The index closed 77 points higher at 11,008 on Monday.

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 33.5 points or 0.31 percent. Nifty futures were trading around 10,991-level on the Singaporean Exchange.

The Dow hit a record closing high on Tuesday, but another drop in Facebook shares weighed on both the S&P 500 and Nasdaq, driving both to finish in the red, said a Reuters report.

Asian shares ticked lower on Wednesday and the euro held at six-week lows as Italy’s mounting debt and Rome’s budget plan set it on a collision course with the European Union, it said.

Stocks in news:

Dr Reddy's Laboratories: The company sold Cloderm (clocortolone pivalate) cream, 0.1% Franchise to EPI Health, LLC.

HCL Tech: Completed acquisition of Hönigsberg & Düvel Datentechnik GmbH Signed a five-year managed services deal with TransGrid.

Coal India: Provisional production of April-September 2018 at 256.47 million tonne versus 231.88 million tonne YoY (up 10.6 percent) and Offtake at 290.81 million tonne versus 269 million tonne YoY (up 8.1 percent).

Tata Motors domestic 'sales for September 2018, grew by 20%, at 64,598 units compared to 53,964 units over the previous year

Hero MotoCorp: Sales up 7 percent at 7.69 lakh units in September.

Eicher Motors: Commercial vehicle sales in September 2018 up at 6,663 units versus 6,083 units in September 2017; Royal Enfield sales up 2 percent at 71,662 units versus 70,431 units (YoY).

TVS Motor Company: September sales up at 4.24 lakh units versus 3.59 lakh units (YoY).

Technical Recommendations:

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

ABB: Buy| LTP: Rs 1423| Target: Rs. 1540 | Stop-Loss: Rs 1360| Return 8%

Deepak Nitrite: Buy| LTP: 284| Target: Rs 310 | Stop-Loss: Rs 268| Return 9%

Exide Industries: Buy| LTP: 263| Target: Rs 285 | Stop-Loss: Rs 250| Return 8%

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 3, 2018 08:43 am
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