Markets@Moneycontrol: Nifty likely to open flat; 3 stocks which could give 5-14% return

The Nifty50 is likely to open on a flat note on Wednesday following muted trend seen in other Asian markets. The index closed 62 points lower at 11,520 on Tuesday.

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 22.5 points or 0.19 percent. Nifty futures were trading around 11,560-level on the Singaporean Exchange.

US stocks fell on Tuesday as trade concerns lingered and declines in Facebook and Nike shares weighed on Wall Street’s major indexes, though data showing US manufacturing activity accelerated in August kept losses in check.

Asian stocks tracked their global peers lower while the safe-haven dollar was broadly higher on Wednesday as worries over persistent trade conflicts curbed investor appetite for riskier assets.

Stocks in news:

Fortis - Shivinder moves NCLT against elder brother Malvinder, ex-Religare chief Sunil Godhwani

Indiabulls Ventures: Board members approved to provide another opportunity to 1,515 shareholders holding 3,98,516 Rights equity shares for payment of First Call Money, by providing a separate window of 15 days i.e. September 10-24.

ABB India: Company has redeemed the entire 600 unsecured rated listed redeemable non-convertible debentures of face value of Rs 1,00,00,000 each on September 4.

Emami Infrastructure's annual general meeting scheduled on September 27

IL&FS Engineering: CARE Ratings has revised the credit rating of the company for long / short term bank facilities aggregating to Rs 3,091.33 crore.

Technical Recommendations:

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

Shriram Transport Finance Company Ltd: SELL | Close: 1297.30 | Target: Rs 1260 & 1230| Stop loss: Rs 1335 | Return: 5%

Mahindra CIE Automotive: BUY | Close: 277.35 | Target: Rs 318 | Stop loss: Rs 258 | Return: 14%

Shreyans Industries: BUY | Close: 179.30| Target: Rs 205 | Stop loss: Rs 163 | Return: 14%