Moneycontrol
Last Updated : Jul 16, 2018 02:57 PM IST | Source: Moneycontrol.com

Markets@Moneycontrol: Nifty likely to open flat; top 3 stocks which could give 5-11% return

Trends on SGX Nifty indicate a flat to negative opening for the broader index in India, a loss of 5.5 points or 0.05 percent. Nifty futures were trading around 11,023- level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is likely to open flat on Monday tracking muted trend seen in other Asian markets. The Nifty50 closed 4.3 points lower or 0.04 percent at 11,018 on Friday.

Trends on SGX Nifty indicate a flat to negative opening for the broader index in India, a loss of 5.5 points or 0.05 percent. Nifty futures were trading around 11,023- level on the Singaporean Exchange.

US stocks rose slightly on Friday, putting the S&P 500 at its highest closing level in more than five months, as gains in industrials and other areas offset a drop in financials after results from three of the big banks mostly disappointed, said a Reuters report.

Asian shares were lower on Monday, brushing off the firmer Wall Street lead as investor caution dominated ahead of the release of key Chinese economic data, which is expected to show signs of a slowdown. Japan’s markets are closed for a holiday today.

The rupee on Friday surged to a three-week high of 68.31 before closing marginally up by 4 paise at 68.53 against the US currency mirroring late losses in stock markets and capital outflows.

Stocks in news:

Hindustan Unilever (HUL), Jay Bharat Maruti, Maharashtra Scooters, Opto Circuits, Sintex Plastics Technology

Infosys: Profit in Q1 fell 2.1 percent to Rs 3,612 crore versus Rs 3,690 crore and revenue rose 5.8 percent to Rs 19,128 crore versus Rs 18,083 crore. Dollar revenue grew by 0.9 percent at $2,831 million versus $2,805 million (QoQ).

Infosys: Guidance for FY19 constant currency growth maintained at 6-8 percent and operating margin at 22-24 percent.

Moody's Investors Service downgraded Tata Motors' corporate family rating (CFR) to Ba2 from Ba1

Vedanta: Company has been identified as the 'H1 qualified interested bidder' as per the bid process of the consortium of lenders of GMR Chhattisgarh Energy Limited (GCEL) for sale of controlling equity stake and restructuring of debt in GCEL.

City Union Bank allotted bonus shares in ratio 1:10

Dr Reddy's Laboratories: US District Court for the District Of New Jersey converted temporary injunction into preliminary injunction against DRL.

Technical Recommendations:

We spoke to 5nance.com and here’s what they have to recommend for intraday trading:

Adani Enterprises Ltd: Buy | Target: Rs. 146 | Stop-loss: Rs. 124 | Return: 11%

Prabhat Dairy Ltd: Buy | Target: Rs. 158 | Stop-loss: Rs. 135 | Return: 6%

UPL Ltd: Sell | Target: Rs. 535 | Stop-loss: Rs. 584 | Return: 5%

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 16, 2018 08:36 am
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