Moneycontrol
Last Updated : Sep 21, 2018 08:46 AM IST | Source: Moneycontrol.com

Markets@Moneycontrol: Nifty likely to open higher; 3 stocks which could give 6-8%

Trends on SGX Nifty indicate a positive opening for the broader index in India, a gain of 39.5 points or 0.35 percent. Nifty futures were trading around 11,351- level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is likely to open higher on Friday tracking positive trend seen in other Asian markets. The index closed 44 points lower at 11,234 on Wednesday.

Trends on SGX Nifty indicate a positive opening for the broader index in India, a gain of 39.5 points or 0.35 percent. Nifty futures were trading around 11,351- level on the Singaporean Exchange.

Trade-sensitive industrial stocks led the Dow Jones Industrial Average to a record closing high on Thursday, the last of Wall Street’s main indexes to fully regain ground since a correction that began in January.

Asian stocks extended gains on Friday after Wall Street’s S&P 500 set a new all-time high, while the dollar slipped as investors viewed Beijing’s and Washington’s fresh exchange of import tariffs as less harmful than initially feared.

Stocks in news:

Yes Bank: Reserve Bank of India has intimated that Rana Kapoor may continue as the MD & CEO till January 31, 2019, and the board of directors of the bank are scheduled to meet on September 25 to decide on the future course of action.

Moody's affirms Yes Bank's ratings with Baa3; outlook stable

Wipro shareholders approve amalgamation with Wipro Tech Austria

Fitch affirms Tata Motors at BB+; revises outlook to negative

Sterlite Tech clarified, on Airtel, Jio, Sterlite Tech among bidders for Aircel Assets - that this is factually incorrect, and that the company denies having participated in any such bid

Stata Bank of India: The bank concluded the issuance of $650 Mio Green Senior Unsecured Fixed Rate Notes under $10 billion MTN programme.

ICICI Bank: Committee of Executive Directors constituted by the board of the bank is scheduled to have a meeting on September 24 to consider offshore fund raising in single/multiple tranches in any currency through public/private placement by way of issuances of debt instruments, certificate of deposits etc. for the remaining period of financial year 2018-19.

Technical Recommendations:

We spoke to IIFL and here's what they have to recommend:

Tech Mahindra Ltd: Buy| Target: Rs 832| Stop Loss: Rs 739| Returns 8%

TVS Motor Company Ltd: Buy| Target: Rs 649| Stop Loss: Rs 575| Returns 8.2%

JSW Steel Ltd: Buy| Target: Rs 442| Stop Loss: Rs 404.5| Returns 6%

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 Sep 21, 2018 08:46 am
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