Moneycontrol
Last Updated : May 11, 2018 08:51 AM IST | Source: Moneycontrol.com

Markets@Moneycontrol: Nifty likely to open with a gap-up; 3 stocks which can give up to 12% return

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 49 points or 0.46 percent. Nifty futures were trading around 10,780-level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is expected to open higher on Friday following positive trend seen in other Asian markets. The Nifty50 closed 25 points lower at 10,716 on Thursday.

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 49 points or 0.46 percent. Nifty futures were trading around 10,780-level on the Singaporean Exchange.

Wall Street jumped on Thursday, and Apple inched closer to a USD 1 trillion stock market value, as tepid inflation data eased worries of faster U.S. interest rate hikes this year, Reuters reported.

Asian markets started on a firm footing and the dollar eased on Friday as softer-than-forecast US inflation data tempered expectations for faster Federal Reserve interest rate rises this year, it said.

Oil prices on Friday held multi-year highs reached the previous session as looming US sanctions against major oil producer and OPEC-member Iran threatened to tip an already tight market into undersupply, it said.

Stocks in news:

Titan Company: Q4 net jumps 71 percent to Rs 304 crore

Union Bank of India: Q4 loss at Rs 2,583.4 crore on sharp jump in provisions

Nestle India: Q1CY18 profit up 38 percent on year at Rs 424 crore

Lupin: The firm has launched Corcal Bone & Beauty Supplement

Ujjivan Financial: The firm’s Q4 profit jumps over 3-fold to Rs 65 crore

Zee Entertainment: The company’s Q4 net falls 85% to Rs 230.64 crore

Adani Transmission: The company’s Q4 net up 58%, to raise up to Rs 5,000 cr via bonds

Asian Paints: Net profit has grown over 3 percent at Rs 496 crore.

PC Jeweller approves buyback at Rs 350 a share; stock price up nearly 90% in May

Mphasis Q4 net profit up 29% at Rs 237 cr

Laurus Labs Q4 net profit down by 36% at Rs 45 cr

Novartis India posts Q4 net profit at Rs 26 cr

Technical Recommendations:

We spoke to Way2Wealth Securities Pvt. Ltd and here’s what they have to recommend:

HCL Tech: Buy around Rs 925-930| Target Rs 1020| Stop loss Rs 895| Return 9.6%

ACC: Sell around Rs 1500-1510| Target Rs 1,400| Stop loss Rs 1,555| Return 6%

NMDC: Sell below Rs 116| Target Rs 102| Stop loss Rs 121| 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 11, 2018 08:42 am
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