Market Headstart: Nifty likely to open above 10,900; 3 stocks that could return 3-5%

Trends on SGX Nifty indicate a flat-to-positive opening for the index in India, at around 8 points or 0.07 percent higher…

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The Nifty is likely to open higher on Monday, tracking the positive trend seen in other Asian markets. The index closed 18 points higher at 10,876 on Friday.

Trends on SGX Nifty indicate a flat-to-positive opening for the index in India, at around 8 points or 0.07 percent higher. Nifty futures were trading around 11,636 on the Singaporean exchange.

Wall Street rose on Friday as investors hoped for progress on trade in a critical US-China meeting over the weekend, and the S&P 500 and the Nasdaq posted their biggest weekly percentage gains in nearly seven years, Reuters reported.

Asian shares rallied on Monday after US and Chinese leaders brokered a truce in their trade conflict, a relief for the global economic outlook and a tonic for emerging markets.

Stocks in the news:

The country’s largest lender State Bank of India (SBI) has put up three of its non-performing loan accounts for sale to recover dues of Rs 2,110.71 crore.

Tata Motors on December 1 reported a 3.8 percent decline in domestic sales to 50,470 units in November, as compared to 52,464 in the same month last year.

The country’s largest two-wheeler maker Hero MotoCorp on December 1 reported a marginal increase in its sales to 6,10,252 units in November.

Maruti Suzuki India, India’s largest passenger carmaker, on Saturday reported a marginal drop in domestic sales of passenger cars in November to 129,837 units, against 130,732 a year ago.

Technical Recommendations:

V-Guard Industries: Buy | Target: Rs 221 | Stop-Loss: Rs. 195 | Return 5%

IndusInd Bank: Buy| Target: Rs 1714 | Stop-Loss: Rs 1595 | Return 3%

Sun Pharmaceutical Industries: Sell| Target: Rs. 469 | Stop-Loss: Rs. 502| Downside: 3%

Disclaimer:-The views and investment tips expressed by investment experts are their own. Ripples Advisory advises users to check with certified experts before taking any investment decisions.

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