Moneycontrol
Last Updated : Jun 13, 2018 08:55 AM IST | Source: Moneycontrol.com

Markets@Moneycontrol: Nifty likely to open flat; 3 stocks which could give 12-14% return

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 21.5 points or 0.2 percent. Nifty futures were trading around 10,769-level on the Singaporean Exchange.

Moneycontrol News @moneycontrolcom

The Nifty50 is likely to open flat on Wednesday following muted trend seen in other Asian markets. The Nifty50 closed 55 points higher at 10,842 on Tuesday.

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 21.5 points or 0.2 percent. Nifty futures were trading around 10,769-level on the Singaporean Exchange.

Wall Street made modest gains on Tuesday while the US dollar rose slightly against a basket of major currencies, with only muted impact from the long-awaited US-North Korea summit aimed at denuclearizing the Korean peninsula, said a Reuters report.

Asian shares edged slightly lower on Wednesday as investors looked to the Federal Reserve policy decision and any clues it might give on future rate hikes, shifting focus away from the historic US-North Korea summit in Singapore, it said.

MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.15 percent in early trade while Japan's Nikkei eked out gains of 0.10 percent.

India’s industrial production grew 4.9 percent in April, as compared with 4.4 percent jump in March, data released by statistics office on Tuesday showed. The factory output index growth rate moderated in March after consistently being above 7 percent between November and February. It expanded 6 percent a year ago.

India’s retail inflation hit a four-month high after jumping to 4.87 percent in May from April’s 4.58 percent driven by costlier food and fuel, data released by statistics office showed. Retail inflation, measured by Consumer Price Index (CPI), had fallen to 2.18 percent in May 2017.

Stocks in news:

Ex-Dividend: Can Fin Homes, MAS Financial Services, Kansai Nerolac Paints

TCS board will consider a proposal for buyback of equity shares on June 15

Sun Pharma: The company has received an establishment inspection report (EIR) for its Halol unit from US FDA.

Allahabad Bank: The bank has said that Hong Kong Regulator has upped supervision on banks branch.

Federal Bank: The bank will be buying 19.89% Stake In Equirus Capital

Page Industries: Company says license pact with Jockey extended until December 2040

Jio offers 1.5 GB additional data per day to customers

Technical Recommendations:

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

VIP Industries Limited: Buy| Target: Rs 495| Stop loss: Rs 410| Return 12%

Quess Corp Limited: Buy| Target: Rs 1,415| Stop loss: Rs 1,150| Return 13%

NIIT Limited: Buy| Target: Rs 120| Stop loss: Rs 97| Return 14%

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 Jun 13, 2018 08:53 am
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