Nifty likely to open lower; top 3 stocks which could give 6-8% return

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 26.5 points or 0.25 percent. Nifty futures were trading around 10,731-level on the Singaporean Exchange.

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The Nifty50 is likely to open lower on Friday tracking muted trend seen in other Asian markets. The index closed 20 points lower at 10,749 on Thursday.

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 26.5 points or 0.25 percent. Nifty futures were trading around 10,731-level on the Singaporean Exchange.

Wall Street’s major indexes rose on Thursday as reports that the United States and the European Union may agree to withdraw auto tariffs fostered optimism on international trade relations among investors, said a Reuters report.

Asian share markets were set for a bumpy ride on Friday just hours ahead of a US deadline to impose tariffs on Chinese imports, which has rattled financial markets in recent weeks as investors feared it could trigger a full-blown global trade war, it said.

MSCI’s broadest index of Asia-Pacific shares outside Japan inched up 0.05 percent, with some support from early gains in Korean and Australian shares. Japan’s Nikkei stock index was 1.1 percent higher after closing at a three-month low on Thursday, while Australian shares gained 0.2 percent. Seoul’s Kospi index edged up 0.2 percent.

Oil markets opened cautiously lower ahead of a raft of import tariffs set to be imposed later in the day by the world’s two biggest economies, the United States and China.

Stocks in news:

Apollo Hospitals buys 50% stake in Medics International Lifesciences

India Infoline Finance raising Rs 325 crore from CDC Group (A UK Govt-owned development finance institution) via rupee denominated Tier II bonds.

Umang Dairies: ICRA has reaffirmed the long term rating of BBB- assigned earlier to the Rs 34 crore line of credit of the company and has also assigned a long-term rating of BBB- to the additional limit of Rs 17 crore. The outlook on the long term rating is stable.

Talwalkars Better Value Fitness: Company made investment in company in India – Zorba Renaissance Private Limited, which is registered with the Registrar of Companies, Chennai.

Varroc Engineering to make stock market debut on July 06

Goldcrest Corporation: Company has fixed July 17 as record date to determine the equity shareholder(s)/eligible equity shareholder(s) of the company who shall be eligible to participate in the buy-back offer.

Berger Paints: Company has signed a shareholders’ agreement with Rock Paint Co for the purpose of setting up of a joint venture company in India by the name of ‘Berger Rock Paints Private Limited’ or any other name as may be approved by the Registrar of Companies.

Technical Recommendations:

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

ACC: Buy| Target: Rs 1,508| Stop Loss: Rs 1,335| Returns 8.5%

Hindustan Unilever: Buy| Target: Rs 1,800| Stop Loss Rs 1,635| Returns 6.5%

Asian Paints: Buy| Target Rs 1,413| Stop Loss Rs 1,271| Returns 7.2%

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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