Nifty likely to open flat; top 3 stocks which could give 11-15% return

Trends on SGX Nifty indicate a flat opening for the broader index in India, a fall of 1 point or 0.01 percent. Nifty futures were trading around 10,731-level on the Singaporean Exchange.

The Nifty50 is likely to open flat with a negative bias on Wednesday tracking muted trend seen in other Asian markets. The index closed 42 points higher at 10,699 on Tuesday.

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Wall Street dipped on Tuesday, weighed down by Apple, Facebook and other technology stocks, in a trading session ending early ahead of the US July 4 holiday, said a Reuters report.

The Dow Jones Industrial Average declined 0.54 percent to end at 24,174.82 points, while the S&P 500 lost 0.49 percent to 2,713.22. The Nasdaq Composite dropped 0.86 percent to 7,502.67.

Asian stocks are on shaky ground on Wednesday while the Chinese yuan stood near 11-month lows. MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.1 percent in early trade, a day after it hit a nine-month low. Japan's Nikkei lost 0.5 percent.

Oil prices edged up on Wednesday, lifted by a report of declining US fuel inventories amid the ongoing crude supply outage at Syncrude Canada in Alberta, which usually supplies the United States.

Stocks in news:

Ashoka Buildcon: The firm received Rs 22.4 crore in a settlement agreement with NHAI.

Shipping Corporation: Vijay Jadhao appointed as non-official, part-time (Independent) Director on the Board of SCI.

Fortis Healthcare: The company has received binding bids on July 3, 2018.

ISGEC Heavy Engineering: The firm has emerged as L-1 bidder for an order worth Rs 700 crore.

ICICI Prudential: Board approves appointment and remuneration of NS Kannan as MD and CEO

Tata Coffee: Company gets shareholder nod to reappoint Sanjiv Sarin as MD and CEO and Chacko Purackal Thomas as Deputy CEO

ICRA: Downgrades Aspire Housing to A+ From AA-. It is the housing finance arm of Motilal Oswal Securities

Trading Ideas:

Here’s what SMC Global Securities have to recommend:

Seamec Limited: Buy| Target: Rs 307| Stop Loss: Rs 249| Return 13%

Berger Paints (I) Limited: Buy| Target: Rs 315| Stop Loss: Rs 265| Return 11%

Jyothy Laboratories Limited: Buy| Target: Rs 271| Stop Loss: Rs 215| Return 15%

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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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