Market Headstart: Nifty likely to open flat; 3 stocks which could give 7-12% return

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 29 points or 0.25 percent. Nifty futures were trading around 11,641-level on the Singaporean Exchange.

The Nifty50 is likely to open flat-to-lower on Friday tracking mixed trend seen in other Asian markets. The index closed 124 points higher at 11,570 on Thursday.

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 29 points or 0.25 percent. Nifty futures were trading around 11,641-level on the Singaporean Exchange.

US stocks climbed on Thursday as Treasury yields rose off 15-month lows, with investors optimistic about the latest round of US-China trade talks, said a Reuters report.

Asian shares posted narrow gains on Friday on revived hopes of progress in US-China trade talks, while global bond yields moved higher after a prolonged slide on worries about the economic outlook, it said.

The rupee slumped 42 paise to end at 69.30 against the US dollar on Thursday, its second straight session of decline, in line with other Asian currencies amid strengthening of the greenback.

Stocks in news:

Adani Ports and Special Economic Zone, a part of the Adani Group, may be eyeing GMR’s Kakinada Special Economic Zone (SEZ) in Andhra Pradesh, according to sources who told Moneycontrol.

Public sector Indian Overseas Bank on Thursday said its shareholders have approved the special resolution to issue equity shares towards capital infusion of Rs 3,806 crore from the Government of India.

State-owned Power Finance Corporation (PFC) on Thursday completed acquisition of majority stake in REC Ltd by transferring Rs 14,500 crore to the government and is hopeful of merger of the two firms in 2019-20.

Technical Recommendations:

We spoke to IIFL and here’s what they have to recommend:

Syndicate Bank: Buy| Target: Rs 47| Stop Loss: Rs 41.5| Upside 9%

InterGlobe Aviation: Buy| Target: Rs 1540| Stop Loss: Rs 1397| Upside 7%

Dish TV: Buy| Target: Rs 44| Stop Loss: Rs 36.5| Upside 12%

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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