Markets@Moneycontrol: Nifty likely to open higher; 3 stocks which can give up to 8% return

The Nifty50 is expected to open with a gap on the higher side on Thursday tracking positive trend seen in other Asian markets. The Nifty50 closed 30 points higher at 10,155 on Wednesday.

The SGX Nifty is also indicating a positive opening in the Indian market, rising 16 points 10,194.50.

US stocks ended slightly lower on Wednesday, with major indexes giving up gains in choppy trade after the Federal Reserve raised US interest rates, while a strong gain in the energy space helped limit losses, Reuters reported.

The Dow Jones Industrial Average fell 44.96 points, or 0.18 percent, to end at 24,682.31, the S&P 500 lost 5.01 points, or 0.18 percent, to 2,711.93 and the Nasdaq Composite dropped 19.02 points, or 0.26 percent, to 7,345.29.

Asian markets traded mixed early on Thursday after the US Federal Reserve raised interest rates for the first time this year. Japan's Nikkei 225 edged higher by 0.15 percent although the broader Topix was off by 0.03 percent, CNBC reported.

Stocks in news:

Mahindra Holidays: Allotted 1,15,000 shares of Rs 10 each under ESOP scheme.

Sun Pharma: Gets nod from US FDA for Psoriasis drug

Dena Bank: The bank has made annual interest payment of Rs 40 crore on its 10.20 percent Basel-III compliant AT-I bonds series III.

UltraTech Cement: The firm’s MD says we were not told about potentially suspect transactions.

Arvind: Adient India and the company have formed a joint venture to make automotive fabric in India, Hindu BusinessLine reported.

Godrej Aerospace: Godrej Aerospace expands tie-up with Rolls-Royce, wins Rs 200-cr contract

Havells India: The firm has appointed Shashi Arora as CEO of Lloyd.

Technical Recommendations:

Here’s what IIFL has to recommend:

Larsen & Toubro Infotech: BUY| Target 1450| Stop Loss 1310| Returns 7%

Jubilant FoodWorks Ltd: BUY| Target 2320| Stop Loss 2159| Returns 5%

M&M Finance Ltd: BUY| Target 485| Stop Loss 429| Returns 8.5%