Last Updated : Mar 28, 2018 09:55 AM IST | Source:

Markets@Moneycontrol: Nifty likely to open lower; 3 stocks which can give up to 11% return

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 58 points or 0.57 percent. Nifty futures were trading around 10,151-level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is expected to open lower on Wednesday tracking negative trend seen in other Asian markets and a weak handover from Wall Street. The index closed 53 points higher or 0.53 percent at 10,184.15 on Tuesday.

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 58 points or 0.57 percent. Nifty futures were trading around 10,151-level on the Singapore Stock Exchange.

Wall Street closed sharply lower Tuesday, with each of the major US indexes suffering their fourth decline in five sessions, fueled by a selloff in the tech sector. Tech stocks, among the best performing sectors of the bull market, have been under pressure recently as concerns about government regulation stemming from their strong growth and privacy questions surrounding Facebook, Reuters reported.

The Dow Jones Industrial Average fell 344.89 points, or 1.43 percent, to 23,857.71, the S&P 500 lost 45.93 points, or 1.73 percent, to 2,612.62 and the Nasdaq Composite dropped 211.74 points, or 2.93 percent, to 7,008.81.

Asian stocks posted declines early on Wednesday trade after US stocks fell sharply on the back of declines in technology names. That cut short a rally seen in Europe and Asia's Tuesday session linked to an apparent easing in trade-related tensions, CNBC reported.

The Nikkei 225 fell 2.15 percent in Tokyo, with the stock average reversing most of its gains made in the overnight session. The broader Topix was down 2.04 percent.

Stocks in news:

Hindustan Aeronautics to debut on bourses today: State-owned Hindustan Aeronautics will list its equity shares on exchanges today. The final issue price is fixed at Rs 1,215 per share. The Rs 4,229-crore initial public offer of state-owned Hindustan Aeronautics was subscribed 99 percent during March 16-20, 2018, supported by QIB.

TPG-backed Manipal Hospitals buys Fortis Healthcare, to invest Rs 3,900 crore

Fortis Healthcare Board approved the demerger of its hospitals business into Manipal Hospital Enterprises. The Board has also approved sale of its 20 percent stake in SRL to Manipal Hospitals.

Wipro launches tech center in Texas, to raise headcount to 2,000

Govt must reduce stake in public sector banks to check on frauds

L&T Construction bags Rs 4,353 crore orders in the T&D business

Lupin: It has received US FDA nod for generic of Clobex Spray.

State Bank of India: The bank is mulling the possibility of merging SBI Card JV entities with itself.

Dena Bank: Gets shareholders' nod for the issue of shares worth Rs 3,045 crore to the government.

Technical Recommendations:

Here’s what Guiness Securities has to recommend:

Bajaj Finance Ltd: Buy | Close: 1772.45 | Target: Rs 1960 | Stop loss: Rs 1650 | Return: 10.58%

UPL Ltd: Buy | Close: 736.80 | Target: Rs 800 | Stop loss: Rs 699 | Return: 8.55%

Balkrishna Industries Ltd: Buy | Close: 1095.15 | Target: Rs 1200 | Stop loss: Rs 1050 | Return: 9.59%

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First Published on Mar 28, 2018 08:40 am
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