Moneycontrol
Last Updated : Jul 17, 2018 08:46 AM IST | Source: Moneycontrol.com

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

Trends on SGX Nifty indicate a flat to negative opening for the broader index in India, a loss of 5.5 points or 0.05 percent. Nifty futures were trading around 10,943- level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is likely to open flat with a negative bias on Tuesday following muted trend seen in other Asian markets. The Nifty50 closed 82 points lower on Monday at 10,936.

Trends on SGX Nifty indicate a flat to negative opening for the broader index in India, a loss of 5.5 points or 0.05 percent. Nifty futures were trading around 10,943- level on the Singaporean Exchange.

The S&P 500 ended slightly lower on Monday following a drop in oil prices that weighed on energy shares and offset a jump in financials as Bank of America’s results reinforced expectations of a strong US earnings season, said a Reuters report.

Asian stocks sagged on Tuesday, weighed by a sharp decline in crude oil prices as Libyan ports reopened, while the dollar was on the defensive ahead of Federal Reserve Chairman Jerome Powell’s first congressional testimony, it said.

Oil prices slumped more than 4 percent on Monday, with Brent reaching a three-month low, as Libyan ports reopened and traders eyed potential supply increases by Russia and other producers.

Stocks in news:

Ashok Leyland, CRISIL, Federal Bank, Goa Carbon, Nucleus Software, Rallis India, Sintex Industries, Tata Sponge Iron, Zee Entertainment

HCL Infosystems board meeting on July 25 to consider June quarter results

Hindustan Unilever: Q1 profit rises 19.2 percent at Rs 1,529 crore versus Rs 1,283 crore, Revenue jumps 11.2 percent at Rs 9,487 crore versus Rs 8,529 crore (YoY); domestic volume growth at 12 percent versus 11 percent (QoQ) & zero percent (YoY).

Adani Logistics and NYK Auto Logistics announce formation of rail logistics joint venture

BEML: Company signed MoU with L&T to address the indigenisation needs of Indian Defence Market.

Glenmark Pharma acquired 100% stake in Zorg

Bharat Electronics: The Navratna Defence PSU has signed a Memorandum of Understanding (MoU) with Saab, Sweden, for jointly marketing the L-Band 3D Air Surveillance Radar, RAWL-03, co-developed by BEL and Saab.

Technical Recommendations:

We spoke to Religare Broking Ltd and here’s what they have to recommend for intraday trading:

Havells India Limited: Buy | Target: Rs 590| Stop-loss: Rs 540 | Return 5.35%

Hindalco Industries Limited: Sell July Futures| Target: Rs 195 | Stop-loss: Rs 225 | Return 9.30%

Larsen & Toubro Limited: Sell July Futures| Target: Rs 1,240 | Stop-loss: Rs 1,315 | Return 3.72%

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 Jul 17, 2018 08:19 am
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