Market Headstart: Nifty50 likely to open flat; 3 stocks which could give 5-9% return

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Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 19 points or 0.17 percent. Nifty futures were trading around 10,366-level on the Singaporean Exchange.

The Nifty50 is likely to open flat on Friday following muted trend seen in other Asian markets. The index closed flat with a positive bias on Thursday.

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 19 points or 0.17 percent. Nifty futures were trading around 10,366-level on the Singaporean Exchange.

The S&P 500 slipped on Thursday, snapping a three-day streak of gains, as uncertainty over when a trade deal between the United States and China would be reached left investors on edge, said a Reuters report.

Asian stocks made modest gains on Friday, tracking improved global sentiment after UK lawmakers voted to delay Brexit and as a weaker yen supported Japanese shares, but a fresh flare up in US-China trade concerns is expected to cap gains, it said.

The rupee appreciated by 20 paise to close at a seven-month high of 69.34 against the US dollar Thursday, extending gains for a fourth session in a row, on robust foreign inflows ahead of general elections.

Stocks in news:

IT company Tech Mahindra will acquire Japan-based mobile network solution firm K-Vision for $1.5 million in an all-cash deal to support 4G and 5G telecom network roll out in Japan.

Rating agency ICRA on Thursday revised upwards its outlook on four banks, including Bank of India, Punjab National Bank (PNB) and Oriental Bank of Commerce (OBC) to stable from negative.

State-owned Corporation Bank on Thursday announced a cut in its benchmark lending rate by 0.05 percentage points, a move that would make home, auto and other loans cheaper.

Technical Recommendations:

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

Reliance Capital Mar Futs: Sell| Target: Rs 158.5| Stop Loss: Rs 172| Downside 5%

Karnataka Bank: Buy| Target: Rs 140| Stop Loss: Rs 122| Upside 9.3%

DLF: Buy| Target: Rs 218| Stop Loss: Rs 194| Upside 8%

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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