Nifty likely to open lower; 3 stocks which could give 10-12% return

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 34.5 points or 0.32 percent. Nifty futures were trading around 10,810-level on the Singaporean Exchange.

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The Nifty50 is likely to open lower on Thursday following muted trend seen in other Asian markets. The Nifty closed 13 points higher at 10,856.

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 34.5 points or 0.32 percent. Nifty futures were trading around 10,810-level on the Singaporean Exchange.

US stocks ended a choppy session lower on Wednesday after the US Federal Reserve raised interest rates as expected and projected a slightly faster pace of rate hikes this year, said a Reuters report.

The Federal Reserve raised interest rates on Wednesday, a move that was widely expected but still marked a milestone in the US central bank’s shift from policies used to battle the 2007-2009 financial crisis and recession.

Asian shares edged down after the Federal Reserve rate hike while concerns about US-China trade frictions kept investors on edge. MSCI’s broadest index of Asia-Pacific shares outside Japan lost 0.25 percent in early trade.

South Korea’s KOSPI was off 0.9 percent, while Australia’s market slipped 0.2 percent. Japan’s Nikkei shed 0.7 percent.

Stocks in news:

Lupin: Launches Generic Tobramycin Inhalation Solution USP In The US. It is used to treat lung infections.

HDFC Bank: The Cabinet has approved HDFC Bank’s Rs 24,000 crore FDI Proposal.

Dish TV India: Rare Enterprises bought 130,00,000 shares at Rs 71.30 per share

Infosys partners Rhode Island School of Design to train 1,000 designers in 2 yrs

Hindusthan National Glass to sell 11.23 percent stake in HNG Float Glass joint venture

Canara Bank to raise up to Rs 7,000 cr in FY19

Container Corp and Bangalore Airport Terminal Services signed MOU to work together for providing Ground Handling and various other airport related services on PAN India basis

ICICI Bank to sell 2% stake in life insurance arm

Fitch downgrades viability rating of SBI, BoB on poor asset quality

HCL Technologies seeks govt nod to set up SEZ in Andhra Pradesh

Technical Recommendations:

Parag Milk Ltd: BUY| Target RS.392| Stop Loss Rs.329| Return 12%

Reliance Capital Ltd: BUY| Target RS.471| Stop Loss Rs 403| Return 11%

Lupin Ltd: BUY| Target RS.954| Stop Loss Rs.824| Return 10%

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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