Moneycontrol
Last Updated : Apr 09, 2018 08:58 AM IST | Source: Moneycontrol.com

Markets@Moneycontrol: Nifty likely to open lower; 3 stocks which can give up to 10% return

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 35.5 points or 0.34 percent. Nifty futures were trading around 10,306-level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is expected open flat-to-lower on Monday tracking muted trend seen in other Asian markets and weak handover from Wall Street. The Nifty50 index closed 6.45 points higher 10,331.

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 35.5 points or 0.34 percent. Nifty futures were trading around 10,306-level on the Singapore Stock Exchange.

US stocks dropped about 2 percent on Friday, with the Dow falling more than 570 points, as US President Donald Trump's latest tariff threat on Chinese imports fuelled increasing concern over a US trade war with China, Reuters reported.

Asian shares started flat on Monday as US President Donald Trump kept up his twitter war with China over trade just a couple of days before President Xi Jinping gives a keynote speech on his policy priorities, Reuters reported.

Losses across the region were minor with MSCI’s broadest index of Asia-Pacific shares outside Japan off just 0.05 percent. Japan’s Nikkei wavered either side of flat, and South Korea edged ahead by 0.1 percent.

Stocks in news:

Wipro sold 63% of its stake in Wipro Airport IT to Antariksh Softtech

Akzo Nobel: The Board has recommended a share buyback to the tune of Rs 235.20 crore.

Dabur India: The firm has completed the acquisition of two personal care products firms in South Africa.

Lemon Tree Hotels to make debut today

State Bank of India: Bank puts 15 NPAs worth Rs 1,063 crore for sale

Punjab National Bank: Bank puts 15 NPAs worth Rs 1,063 crore for sale

Shree Renuka Sugars: Company to divest Brazilian operations

Dewan Housing Finance: Company plans to raise up to Rs 1,000 crpre via debentures on private placement basis

Ballarpur Industries: Company to sell Malaysian unit for USD 310 million (approx Rs 2,011 crore)

Technical Recommendations:

We spoke to 5nance.com and here’s what they have to recommend:

Gravita India Ltd: BUY| Target Rs192 | Stop-loss Rs165 | Return 10%

Nath Bio-Genes Ltd: BUY| Target Rs574 | Stop-loss Rs530 |Return 6%

Adani Transmission Ltd: SELL | Target Rs170 | Stop Loss Rs184 |Return 5%

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their 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 Apr 9, 2018 08:40 am
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