Moneycontrol
Last Updated : Jul 12, 2018 09:07 AM IST | Source: Moneycontrol.com

Markets@Moneycontrol: Nifty likely to open higher; top 3 stocks which could give 10-12% return

US stocks fell on Wednesday, breaking a four-session streak of gains after Washington’s threat to impose tariffs on an additional USD 200 billion worth of Chinese goods fanned trade war fears, while a sharp drop in oil prices hit energy shares, said a Reuters report.

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The Nifty50 is likely to open higher on Thursday tracking positive trend seen in other Asian markets. The index closed flat at 10,948 on Wednesday.

Trends on SGX Nifty indicate a flat to positive opening for the broader index in India, a rise of 6.5 points or 0.06 percent. Nifty futures were trading around 10,954-level on the Singaporean Exchange.

US stocks fell on Wednesday, breaking a four-session streak of gains after Washington’s threat to impose tariffs on an additional USD 200 billion worth of Chinese goods fanned trade war fears, while a sharp drop in oil prices hit energy shares, said a Reuters report.

Asian stocks remained under pressure on Thursday from fears of an escalation in the US-China trade war, while the dollar stood stall after rallying against its peers amid the turmoil in broader markets, it said.

Brent crude rose more than USD 1 on Thursday as focus turned to a big drawdown in US stockpiles, recouping some of the market’s heavy losses from the previous session that had been sparked by news that Libya would resume oil exports. On Wednesday, the contract slumped 6.9 percent in its largest one-day percentage decline since Februay 9, 2016

Stocks in news:

Results Today: Cyient and Karnataka Bank

Ex-Bonus: Ashoka Buildcon 1:2 and General Insurance 1:1

HCL Technologies to consider a proposal for buy-back on July 12

IDFC: Appoints Rinkoo Somani as interim chief financial officer.

HIL board approves acquisition of German firm through arm

Chambal Fertilisers: Board of directors of Inuva, which is a downstream subsidiary of the company, has approved voluntary winding up of the company under the provisions of Insolvency and Bankruptcy Code. Inuva is not having any business operations.

Sun Pharmaceutical Industries' subisidiary filed lawsuit against Biofrontera Inc. in USA

Fortis Healthcare board to consider fund raising on July 13

Technical Recommendations:

We spoke to Bonanza portfolio and here’s what they have to recommend:

Divi’s Lab Ltd: BUY| CMP: Rs. 1122.20| Target Rs.1234|Stop Loss Rs.1064|Return 10%

ITD Cementation Ltd: BUY| CMP: Rs. 135 | Target Rs.150|Stop Loss Rs.128|Return 11%

Cox & Kings Ltd: BUY| CMP: Rs. 216.55 | Target Rs.243|Stop Loss Rs.204|Return 12%

Disclaimer: The views and investment tips expressed by investment experts 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 Jul 12, 2018 08:37 am
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