Moneycontrol
Last Updated : May 30, 2018 08:47 AM IST | Source: Moneycontrol.com

Markets@Moneycontrol: Nifty likely to open below 10,600; 3 stocks which could give 7-11% return

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 80 points or 0.76 percent.

Moneycontrol News @moneycontrolcom

The Nifty50 is expected to open gap down on Wednesday following muted trend seen in other Asian markets. The index closed 55 points lower at 10,633 on Monday.

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 80 points or 0.76 percent. Nifty futures were trading around 10,546-level on the Singaporean Stock Exchange.

The S&P 500 and the Dow Jones Industrial Average registered their biggest one-day percentage drop in a month on Tuesday as political turmoil in Italy sparked concerns about the stability of the euro zone and shares of US banks tumbled, said a Reuters report.

Asian shares extended a global sell-off in early trading. MSCI's broadest index of Asia-Pacific shares outside Japan was down 1.1 percent, while Japan's Nikkei average shed 1.7 percent to hit a six-week low.

Stocks in news:

Results Today: ONGC, SAIL, Canara Bank, BGR Energy, Fortis Healthcare, Bartronics India, Hindustan Copper, J&K Bank

Avenue Supermarts: Incorporates Reflect Wholesale and Retail on May 28, 2018.

Fortis Healthcare: The firm has started fresh bidding process; Munjal-Burman's offer stands mutually terminated.

Bank of Baroda: Looks to sell NPAs worth Rs 2,954.28 crore and has invited expression of interest by June 15.

ICICI Bank: Appoints MD Mallya as an additional independent director on board w.e.f May 29.

Wheels India: Q4 net at Rs 19.5 crore

Glenmark Pharma: Q4 net profit at Rs 151.6 crore and revenue at Rs 2,279.8 crore

Dilip Buildcon Q4: Net profit at Rs 217.4 crore and revenue up 46% at Rs 2,557.9 crore

Greenply Industries: Q4 net profit at Rs 32.6 crore

Eveready Industries: Q4 net loss at Rs 16.2 crore

Technical Recommendations:

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

Kajaria Ceramics Ltd: BUY | Close: 572 | Target: Rs 621 | Stop loss: Rs 526 | Return: 10.89%

The Indian Hotels Company Ltd: BUY | Close: 146.30 | Target: Rs 168 | Stop loss: Rs 135 | Return: 11.72%

Dabur India Ltd: BUY | Close: 385.55 | Target: Rs 408 | Stop loss: Rs 364 | Return: 7.37%

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.
First Published on May 30, 2018 08:41 am
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