Moneycontrol
Last Updated : May 09, 2018 08:42 AM IST | Source: Moneycontrol.com

Markets@Moneycontrol: Nifty likely to open lower; 3 stocks which can give up to 12% return

Trends on SGX Nifty indicate a flat to negative opening for the broader index in India, a fall of 16 points or 0.15 percent. Nifty futures were trading around 10,725-level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is expected to open lower on Wednesday following muted trend seen in other Asian markets. The Nifty50 closed 2 points higher at 10,717 on Tuesday.

Trends on SGX Nifty indicate a flat to negative opening for the broader index in India, a fall of 16 points or 0.15 percent. Nifty futures were trading around 10,725-level on the Singaporean Exchange.

Wall Street cut losses to end little changed on Tuesday while energy stocks rallied after US President Donald Trump said the United States would quit the Iran nuclear deal, confirming what many investors had expected, said a Reuters report.

The Dow Jones Industrial Average ended 0.01 percent higher at 24,360.21, while the S&P 500 ended down 0.03 percent to 2,671.92. The Nasdaq Composite added 0.02 percent to 7,266.90.

Shares of Asian markets were trading mixed after US President Donald Trump pulled out of the Iran nuclear deal. Japan's Nikkei 225 declined 0.38 percent while South Korea's benchmark Kospi was flat.

Crude oil prices jumped back to near 3 1/2-year highs on Wednesday after US President Donald Trump pulled his country out of an international nuclear deal with Iran, sparking worries about global oil supplies, added the Reuters report.


Stocks in news:

Ex-dividend: HCL Technologies

Tata Steel
Tata Steel Europe explores potential sale of non-core businesses

Board meeting on May 16 to consider results for the quarter ended March 31, 2018

SBI Life: Company posts net profit of Rs 396 crore for FY18 on one-time gain

Tata Global Beverages board meeting on May 11 to consider issue of NCD/debt securities on private placement basis

Bombay Burmah: The Board will meet on May 17, 2018 to discuss financial results and recommend a dividend.

Nestle India says company to pass the benefits of GST to customers

Quess Corp: The firm has completed acquisition of 90 percent equity in Greenpiece Landscapes India.

Jyothy Laboratories board meeting on May 16 to consider fund raising & Q4FY18 results

Lupin submits new drug application for Etanercept Biosimilar in Japan, which is used to treat arthritis and psoriasis.

Dalmia Bharat likely to move Supreme Court in Binani Cement case, CNBC-TV18 reported.

Technical Recommendations:

We spoke to SMC Global Securities and here’s what they have to recommend:

Container Corporation of India Limited: BUY| Target: Rs 1,570| Stop loss: Rs 1,300| Return 12%

Parag Milk Foods Limited: Buy| Target: Rs 353| Stop loss: Rs 292| Return 12%

L&T Technology Services Limited: Buy| Target: Rs 1,520| Stop loss: Rs 1,250| Return 12%

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 May 9, 2018 08:38 am
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