Moneycontrol
Last Updated : Sep 27, 2018 08:41 AM IST | Source: Moneycontrol.com

Markets@Moneycontrol: Nifty likely to open flat; 3 stocks which could give 5-12%

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 24.5 points or 0.22 percent. Nifty futures were trading around 11,076-level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is likely to open on a flat-to-positive note on Thursday following a mixed trend seen in other Asian markets. The index closed 13 points lower at 11,053 on Wednesday.

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 24.5 points or 0.22 percent. Nifty futures were trading around 11,076-level on the Singaporean Exchange.

A Wall Street rally collapsed and stocks turned negative shortly before the market close on Wednesday after investors reassessed the Federal Reserve’s policy statement and reduced their risk as they weighed how long the US central bank would continue to raise interest rates, said a Reuters report.

Global equities ran out of steam and US bond yields fell after the Federal Reserve raised interest rates as expected, sticking to its script of gradual policy tightening with forecasts of five more rate hikes by 2020, it said.

The US Federal Reserve raised interest rates on Wednesday and left intact its plans to steadily tighten monetary policy, as it forecast that the US economy would enjoy at least three more years of growth.

Stocks in news:

Basic customs duty has been increased on 19 items to curb import of certain items and total value of imports of these items in FY18 was about Rs 86,000 crore

Hero MotoCorp: Company to raise product prices by up to Rs 900 from October 3 due to rising commodity prices and currency depreciation.

HCL Technologies: Company signs new five-year infrastructure services contract with Anglo American.

Vijaya Bank: Board meeting is scheduled on September 29 to consider the amalgamation of Bank of Baroda, Vijaya Bank and Dena Bank.

Torrent Power: Company participated in the competitive bidding process (by way of E-reverse auction process) conducted by Solar Energy Corporation of India (SECI) for setting-up of 1200 MW ISTS connected wind power projects, and emerged as one of the winning bidders for capacity of 115 MW project.

Technical Recommendations:

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

ACC Ltd: Buy| CMP: Rs. 1582 | Target Rs 1661| Stop Loss: Rs 1534| Return 5%

Exide Industries Ltd: Buy| CMP: Rs. 273.60| Target Rs 295| Stop Loss Rs.264| Return 8%

Bharat Electronics Ltd: Buy| CMP: Rs.84.20 | Target Rs 95| Stop Loss: Rs 79.40| Return 12.80%

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 Sep 27, 2018 08:41 am
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