Markets@Moneycontrol: Nifty likely to open flat; top 3 stocks which could give 6-12% return

The Nifty50 is likely to open flat with a positive bias on Thursday tracking muted trend seen in other Asian markets. The index closed 70 points higher at 10,769 on Wednesday.

Trends on SGX Nifty indicate a flat opening for the broader index in India, a gain of 2 points or 0.02 percent. Nifty futures were trading around 10,775-level on the Singaporean Exchange.

Asian stocks got off to a cautious start on Thursday as investors remained nervous amid a looming deadline for Washington’s proposed tariffs on Chinese imports, leaving financial markets in a state of anxious uncertainty, said a Reuters report.

MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.03 percent after declining 0.4 percent the previous day. Japan’s Nikkei was down 0.1 percent, South Korea’s KOSPI was flat and Australian stocks rose 0.4 percent.

Oil prices eased on Thursday after US President Donald Trump sent a tweet urging OPEC to reduce prices for crude.

Stocks in news:

Unichem Labs: Company gets USFDA nod for asthma drug

Muthoot Finance: Company eyes disbursal of Rs 300 crore personal loans

Som Distilleries' subsidiary acquired Brewery in Odisha for Rs 46 crore

ICICI Bank: Bank aims to grow home loan book to Rs 2 trillion by FY20

Va Tech Wabag board meeting on July 9 to consider fund raising proposal

JP Associates: Supreme Court asks to deposit at least Rs 650 cr for refund of principal amount to home buyers

Yes Bank: Bank receives SEBI approval to launch mutual fund business

Biocon: Receives EU GMP Certification For Its Sterile Drug Product Mfg Facility In Bangalore

Technical Recommendations:

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

Lupin Ltd: Buy| CMP: Rs 934.20| Target Rs 1,030| Stop Loss Rs 894| Return 10%

BSE Ltd: Buy| CMP: Rs 854.90 | Target Rs 958| Stop Loss Rs 812| Return 12%

Maruti Suzuki India Ltd: Buy| CMP: Rs. 9220.80 | Target Rs 9,800| Stop Loss Rs 8,943| Return 6%

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