Markets@Moneycontrol: Nifty likely to open above 10,700; 3 stocks which could give above 10% return

The Nifty50 is expected to open above 10,700 on Thursday following positive trend seen in other Asian markets. The Nifty50 closed 91 points higher at 10,684 levels.

Trends on SGX Nifty indicate a positive opening for the broader index in India, a gain of 36 points or 0.34 percent. Nifty futures were trading around 10,731- level on the Singaporean Exchange.

Wall Street indexes rallied on Wednesday with help from financial stocks as investors eyed strong economic data and trade war fears took a back seat while the Nasdaq registered its third straight record closing high, said a Reuters report.

Asian shares rose to 2 1/2-month high on Thursday, supported by strong economic fundamentals, added the report.

MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.2 percent to extend its gains, hitting a 2-1/2 month high for a second straight day.Japan's Nikkei rose 0.7 percent to 22790.68 in early trade.

The rupee on Wednesday staged a spirited rebound after a two-day fall and ended at a fresh one-month high of 66.92, surging by 23 paise against the US dollar, even as the RBI hiked repo rate by 25 basis points.

Stocks in news:

Syndicate Bank plans to raise Rs 5K cr via securities

Aditya Birla Fashion: The Board of Directors of the company approved the allotment of 5,843 fully paid-up Equity Shares of Rs 10/- each.

Quess Corp approved sale of 74% equity shareholding held in Inticore VJP Advance Systems

Kirloskar to hike power genset prices by 5-8%

Capital First's debenture committee approved issue of NCD worth Rs 50 crore on private placement basis

Essel Propack - Record date for bonus issue is June 21

Lemon Tree signed License agreement for 104 room property at Gwalior

NCLT Admits Videocon Industries Case For Insolvency Proceedings

Hindustan Construction: Company wins Rs737 crore contract for Bangladesh nuclear power plant

Technical Recommendations:

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

ACC Ltd: BUY| Target RS.1450| Stop Loss Rs.1249| Return 10%

Bharat Electronics Ltd: BUY| Target RS.130| Stop Loss Rs.109| Return 12%

Federal Bank: BUY| Target RS.93| Stop Loss Rs.78| Return 12%

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