Moneycontrol
Last Updated : May 08, 2018 08:49 AM IST | Source: Moneycontrol.com

Podcast | Markets@Moneycontrol: Nifty likely to open higher; 3 stocks which can give up to 11% return

Trends on SGX Nifty indicate a flat to positive opening for the broader index in India, a rise of 10.5 points or 0.1 percent. Nifty futures were trading around 10,756-level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is expected to open higher on Tuesday following positive trend seen in other Asian markets. The Nifty50 closed 97 points higher at 10,715 on Monday.

Trends on SGX Nifty indicate a flat to positive opening for the broader index in India, a rise of 10.5 points or 0.1 percent. Nifty futures were trading around 10,756-level on the Singaporean Exchange.

Wall Street climbed on Monday, boosted by Apple’s sixth straight day of gains and by a surge in oil prices to their highest since 2014, said a Reuters report.

The Dow Jones Industrial Average rose 0.39 percent to end at 24,357.32, while the S&P 500 gained 0.35 percent to 2,672.63. Earlier, the S&P 500 was up as much as 0.75 percent. The Nasdaq Composite added 0.77 percent to 7,265.21.

Asian markets put in a mixed performance early on Tuesday despite the firmer lead from Wall Street, it said. The Nikkei 225 slipped 0.06 percent while the Topix edged up by 0.16 percent in early trade and the benchmark Kospi added 0.56 percent.

Stocks in news:

ICICI Bank: Q4 net profit falls 50 percent on jump in NPAs, in line with expectation. Brokerages maintain their rating but slashed their target price for ICICI Bank post Q4 results.

Pfizer: Company posts Q4 net profit at Rs 104.51 crore

Firstsource: Q4 net profit rises to Rs 92.8 crore

Axis Bank: The lender has allotted 28,260 shares of Rs 2 each under the ESOP scheme.

Balrampur Chini: The Board will meet on May 19, 2018 to discuss the financial results.

Lupin Receives FDA Approval For Generic Temovate Ointment, 0.05%

Unichem Labs Receives ANDA Approval From US FDA For Valsartan Tablets, USP. These are used to treat high blood pressure and congestive heart failure.

Bharti Infratel, Indus likely to invest Rs 3,500 cr capex for FY'19 ahead of merger

Technical Recommendations:

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

Tata Global Beverages: BUY| Target Rs. 315 | Stop-loss Rs 278 | Return 7%

Camlin Fine Sciences: BUY| Target Rs. 128 | Stop-loss Rs 108 | Return 11%

DCB Bank: BUY| Target Rs 206 | Stop-loss Rs 198 | 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 May 8, 2018 08:38 am
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