Moneycontrol
Last Updated : May 31, 2018 08:57 AM IST | Source: Moneycontrol.com

Markets@Moneycontrol: Nifty likely to open higher; 3 stocks which could give 17-19% return

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 25 points or 0.24 percent. Nifty futures were trading around 10,656-level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is expected to open higher on Thursday following positive trend seen in other Asian markets. The index closed 18.95 points lower at 10,614 on Wednesday.

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 25 points or 0.24 percent. Nifty futures were trading around 10,656-level on the Singaporean Stock Exchange.

US stocks ended higher on Wednesday, and the S&P 500 and Dow registered their biggest daily percentage gains since May 4, on signs of easing political turmoil in Italy and as a surge in oil prices boosted energy stocks, said a Reuters report.

Asian stocks rebounded from a two-month trough on Thursday. MSCI’s broadest index of Asia-Pacific shares outside Japan tacked on 0.3 percent having slumped to its weakest since the start of April on Wednesday. South Korea’s KOSPI added 0.6 percent and Japan’s Nikkei advanced 0.5 percent.

Oil prices dropped slightly on Thursday, weighed down by a surprise rise in U.S. crude inventories and by expectations that OPEC and other producers could increase output at a meeting in June, added the Reuters report. Brent crude was trading around $77.30 per barrel.

Stocks in news:

ICICI Bank-Videocon case: Bank calls for probe against Chanda Kochhar after another complaint

Bhushan Steel: Firm reiterates that increase in share price or volume is purely due to market conditions.

UltraTech Cement: The firm has received letter of intent from Binani Cement’s committee of creditors

Punj Lloyd: Company posts Q4 profit of Rs 944 crore.

MTNL: Q4 net loss widens to Rs 900 crore

NCLAT allows Vedanta to make Rs 5,320 crore upfront payment for Electrosteel Steels

Reliance Communications settles Ericsson dues, asset sales to Reliance Jio gets NCLAT nod

ONGC Q4: Net profit up 18% at Rs 5,915 crore and revenue was up 4.2% at RS 23,969 crore

Saksoft Q4: Net profit was up 7% at Rs 7.5 crore and revenue was up 4% at Rs 78 crore

Manpasand Beverages to begin its new facility in Khurda, Odisha

Technical Recommendations:

We spoke to ICICI Direct.com Research and here’s what they have to recommend:

Pfizer: Buy| Target: Rs 2,960| Stop Loss: Rs 2,240| Return 19%| Time Frame 6 months

AIA Engineering: Buy| Target: Rs 1,850| Stop Loss: Rs 1,440| Return 17%| Time Frame 6 months

Taj GVK Hotels & Resorts: Buy| Target: Rs 265| Stop Loss: Rs 205| Return 17%| Time Frame 1 month

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 31, 2018 08:41 am
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