Moneycontrol
Last Updated : Jul 16, 2018 03:04 PM IST | Source: Moneycontrol.com

Markets@Moneycontrol: Nifty likely to open flat; 3 stocks which could give 5-10% return

Trends on SGX Nifty indicate a flat to negative opening for the broader index in India, a fall of 2.5 points or 0.02 percent.

Moneycontrol News @moneycontrolcom

The Nifty50 is likely to open flat on Wednesday following muted trend seen in other Asian markets. The Nifty closed 89 points lower at 10,710 on Tuesday.

Trends on SGX Nifty indicate a flat to negative opening for the broader index in India, a fall of 2.5 points or 0.02 percent. Nifty futures were trading around 10,724-level on the Singaporean Exchange.

US stocks fell on Tuesday as a sharp escalation in the trade dispute between the United States and China rattled markets and put the Dow Jones Industrial Average back in negative territory for the year, said a Reuters report.

Stocks in Asia rebounded from recent losses on Wednesday as investors sought bargains, a day after the specter of a US-China trade war drove down bond yields, and share and commodity prices, it said.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.3 percent. Japan's Nikkei gained 0.2 percent, South Korea's KOSPI rose 0.7 percent, and Australian stocks were 0.8 percent higher.

Stocks in news:

Cipla has received final approval for its abbreviated new drug application for Efavirenz tablets 600mg from the USFDA. It is indicated in combination with other antiretroviral agents for the treatment of human immunodeficiency virus type 1 infection in adults

Infosys expands footprint in france by establishing state-of-the-art digital center of excellence in Marseille

Brigade Enterprises board meeting on June 22 to consider proposal for fund raising by issue of non-convertible debentures

Wheels India's board, on June 22, may consider issue of bonus shares

DCM Shriram to buyback 55.55 lakh equity shares at Rs 450 each

Brickwork Ratings India revised ratings of debt instruments of IFCI

Kansai Nerolac Paints has entered into a share purchase agreement to acquire 55 percent of the paid-up equity of RAK Paints, Bangladesh, for a total consideration of Bangladeshi Taka (BDT) 57.26 crore (approximately Rs 45.81 crore)

Sharda Cropchem board meeting on June 25 to consider fund raising

Technical Recommendations:

We spoke to Epic Research and here’s what they have to recommend:

Kaveri Seed Ltd: Buy| LTP: Rs 583.75 | Target: Rs 625| Stop loss: Rs 565| Return 7%

Lupin Ltd: Sell| LTP: Rs 901.10| Target: Rs 855| Stop loss: Rs 925| Return 5%

Motherson Sumi Ltd: Buy| LTP: Rs 310.60 |Target: Rs 340| Stop loss: Rs 295| Return 10%

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 Jun 20, 2018 08:46 am
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant