Moneycontrol
Last Updated : Jul 04, 2018 09:42 AM IST | Source: Moneycontrol.com

Markets@Moneycontrol: Nifty likely to open flat; top 3 stocks which could give 11-15% return

Trends on SGX Nifty indicate a flat opening for the broader index in India, a fall of 1 point or 0.01 percent. Nifty futures were trading around 10,731-level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is likely to open flat with a negative bias on Wednesday tracking muted trend seen in other Asian markets. The index closed 42 points higher at 10,699 on Tuesday.

Trends on SGX Nifty indicate a flat opening for the broader index in India, a fall of 1 point or 0.01 percent. Nifty futures were trading around 10,731-level on the Singaporean Exchange.

Wall Street dipped on Tuesday, weighed down by Apple, Facebook and other technology stocks, in a trading session ending early ahead of the US July 4 holiday, said a Reuters report.

The Dow Jones Industrial Average declined 0.54 percent to end at 24,174.82 points, while the S&P 500 lost 0.49 percent to 2,713.22. The Nasdaq Composite dropped 0.86 percent to 7,502.67.

Asian stocks are on shaky ground on Wednesday while the Chinese yuan stood near 11-month lows. MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.1 percent in early trade, a day after it hit a nine-month low. Japan's Nikkei lost 0.5 percent.

Oil prices edged up on Wednesday, lifted by a report of declining US fuel inventories amid the ongoing crude supply outage at Syncrude Canada in Alberta, which usually supplies the United States.

Stocks in news:

Ashoka Buildcon: The firm received Rs 22.4 crore in a settlement agreement with NHAI.

Shipping Corporation: Vijay Jadhao appointed as non-official, part-time (Independent) Director on the Board of SCI.

Fortis Healthcare: The company has received binding bids on July 3, 2018.

ISGEC Heavy Engineering: The firm has emerged as L-1 bidder for an order worth Rs 700 crore.

ICICI Prudential: Board approves appointment and remuneration of NS Kannan as MD and CEO

Tata Coffee: Company gets shareholder nod to reappoint Sanjiv Sarin as MD and CEO and Chacko Purackal Thomas as Deputy CEO

ICRA: Downgrades Aspire Housing to A+ From AA-. It is the housing finance arm of Motilal Oswal Securities

Trading Ideas:

We spoke to SMC Global Securities and here’s what they have to recommend:

Seamec Limited: Buy| Target: Rs 307| Stop Loss: Rs 249| Return 13%

Berger Paints (I) Limited: Buy| Target: Rs 315| Stop Loss: Rs 265| Return 11%

Jyothy Laboratories Limited: Buy| Target: Rs 271| Stop Loss: Rs 215| Return 15%

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 Jul 4, 2018 08:27 am
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