Moneycontrol
Last Updated : Jul 24, 2018 08:46 AM IST | Source: Moneycontrol.com

Markets@Moneycontrol: Nifty likely to open flat; top 3 stocks which could give 8-10% return

Trends on Nifty futures, which are trade on the Singaporean exchange, reveal that the market could see a mildly lower opening, with the Nifty falling around 10 points from Monday's close.

Moneycontrol News @moneycontrolcom

The Nifty50 is likely to open flat on Tuesday following muted trend seen in other Asian markets. The Nifty50 closed 74 points higher at 11,084 on Monday.

Trends on Nifty futures, which are trade on the Singaporean exchange, reveal that the market could see a mildly lower opening, with the Nifty falling around 10 points from Monday's close.

The benchmark US S&P 500 index and the Nasdaq index rose on Monday as a jump in 10-year bond yields boosted financial sector stocks, Reuters reported.

Asian stocks were mixed in trade as Wall Street gains spille over to the markets there, but investors continued to keep an eye on bond yields as well, it said.

Nikkei 225 advanced 0.41 percent, around 92 points. The Kospi drifted lower by 0.12 percent as markets examined recent corporate results.

Stocks in news:

Results on Tuesday: Asian Paints, GSK Pharma, ICICI Prudential Life, Symphony, Hexaware, Info Edge, Century Plyboard, Kajaria Ceramics, Network 18, TV18 Broadcast, Radico Khaitan, Inox Leisure, TeamLease, Chambal Fertilizers, Borosil Glass, Elantas Beck, Kalyani Steels, Kirloskar Pneumatics, KRBL, KSB Pumps, Music Broadcast, Navin Fluorine, Rane Brake, Thirumalai Chemical.

IOC to invest Rs 12,000 cr in Haldia refinery, pipeline infra

United Spirits Q1 net profit up 29% at Rs 81.2 crore versus Rs 62.9 crore, YoY

ACC: Q2 profit rises 0.9 percent at Rs 329 crore versus Rs 326.2 crore; revenue increases 11.4 percent at Rs 3,848 crore versus Rs 3,453 crore (YoY).

L&T Technology: Q1 profit increases 24.5 percent at Rs 198.1 crore versus Rs 159.1 crore; rupee revenue rises 9.2 percent at Rs 1,152.2 crore versus Rs 1,054.8 crore; dollar revenue rises 4 percent at $168.9 million versus $162.4 million (QoQ).

Technical Recommendations:

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

Sterlite Technologies: Buy| LTP: Rs 343| Target: Rs 370 | Stop-Loss: Rs 325 | Return 8%

ICICI Bank: Buy| LTP: Rs 276| Target: Rs 300 | Stop-Loss: Rs 260 | Return 9%

Suven LifeSciences: Buy| LTP: Rs 231| Target: Rs 255 | Stop-Loss: Rs 218 | Return 10%

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 24, 2018 08:40 am
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