Moneycontrol
Last Updated : Jul 16, 2018 03:06 PM IST | Source: Moneycontrol.com

Markets@Moneycontrol: Nifty likely to open gap-down; 3 stocks which could give 4-12% return

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 46.5 points or 0.43 percent. Nifty futures were trading around 10,779-level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is likely to open lower on Monday following weak trend seen in other Asian markets. The Nifty closed 9.6 points higher at 10,817 on Friday.

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 46.5 points or 0.43 percent. Nifty futures were trading around 10,779-level on the Singaporean Exchange.

Wall Street stocks ended lower on Friday, capping a day of heavy trading with investors mostly pulling back from initial concerns over an escalating trade dispute between the United States and China, said a Reuters report.

Asian markets slipped on Monday as investors digested the escalation in trade tensions between the US and China after both countries announced tariffs last week. Japan's Nikkei 225 declined 0.53 percent while the Kospi slipped 0.17 percent.

China will impose additional 25 percent tariffs on 659 US goods worth USD 50 billion in response to the US announcement that it will levy tariffs on Chinese imports, the Chinese commerce ministry said.

Stocks in news:

Dr Reddy's Laboratories: Defends its right to launch Buprenorphine and Naloxone sublingual film in the US markets.

NBCC: Company submitted a bid in response to Department of Investment and Public Asset Management's invite for strategic disinvestment of HSCC and Engineering Projects (India).

Jindal Steel & Power: After inauguration of its Angul plant, JSPL told CNBC-TV18 that the company may look at expansion of steel plant at Angul in Odisha once it is debt free. It already has land to expand production by 12 mtpa at Angul.

PNC Infratech: The Uttar Pradesh government has cancelled the on-going bidding process of Purvanchal Expressway Project that comprises eight individual packages and decided to go for fresh bidding. The company was earlier declared as L1 bidder for the fourth package of the above project.

Punjab & Sind Bank raises one-year MCLR to 8.6 percent from 8.5 percent with effect June 16.

Technical Recommendations:

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

Nava Bharat Ventures Ltd: Buy | Target: Rs 163 | Stop-loss: Rs 132 | Return: 12%

Hindustan National Glass & Industries Ltd: Buy| Target: Rs 113 | Stop-loss: Rs 95 | Return: 8%

Gruh Finance Ltd: Sell Target: Rs 309 | Stop-loss: Rs 335 | Return 4%

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 Jun 18, 2018 08:33 am
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