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Markets@Moneycontrol: Nifty may open higher; 3 stocks which can give up to 15% return

By Moneycontrol News

Moneycontrol News

The Nifty50 is likely to open higher on Thursday tracking positive trend seen in other Asian markets. The index closed 95 points lower at 10,154 on Wednesday.

The Nifty50 futures on the Singapore Stock Exchange were trading 34 points higher at 10,213 indicating a flat-to-positive opening for the domestic market.

Related News

The S&P 500 ended slightly lower after Wednesday’s volatile session as investors struggled to get a read on US trade policy after President Donald Trump promised hefty import tariffs but then said Mexico and Canada could be exempt, said a Reuters report.

Late on Wednesday, White House spokeswoman Sarah Sanders said Trump is expected to sign something by the end of the week with “potential carve-outs for Mexico and Canada based on national security, and possibly other countries as well”.

Markets in Asia clawed back some gains on Thursday after sliding in the last session on trade-related fears. The benchmark Nikkei 225 index rose 0.89 percent and the Topix was up 0.73 percent. The Kospi advanced 0.59 percent, with strength seen in automakers and tech names, CNBC reported.

Stocks in news:

Amtek Auto: Liberty House was chosen as the preferred H1 bidder for Amtek Auto assets

TeamLease Services increase in the limit of investment by FPI from 24%-75%

Hero Motocorp launch of new super splendor, it will further consolidate company's 55% market share in the 125cc segment

SBI - RBI imposed penalty Rs 40 lakh on account of non-compliance

Airtel, Idea Cellular get spectrum relief from the government that will boost cash flow by Rs 550 billion

Reliance Communications’ meeting of holders of USD 300 m notes scheduled on March 6 2018, stands adjourned for want of quorum & will be held on March 20.

Technical Recommendations:

Here’s what ICICIDirect has to recommend:

Mahindra CIE Automotive: BUY| CMP Rs239.00| Target Rs270| Stop Loss Rs216| Return 13%| Time Frame 3 months

Ipca Laboratories: BUY| CMP Rs673| Target Rs775| Stop Loss Rs621| Return 15%| Time Frame 1 months

Prism Cement: BUY| CMP Rs126| Target Rs142| Stop Loss Rs114| Return 13%| Time Frame 1 months