Market Headstart: Nifty likely to open higher; 3 stocks which could give 3-5% return

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 16 points or 0.15 percent. Nifty futures were trading around 10,811-level on the Singaporean Exchange.

The Nifty50 is likely to open higher on Monday following positive trend seen in other Asian markets. The index closed 69 points lower at 19,780 on Friday.

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 16 points or 0.15 percent. Nifty futures were trading around 10,811-level on the Singaporean Exchange.

Wall Street gained ground on Friday in a broad-based rally as investors were heartened by news that Washington would move to temporarily end the longest US government shutdown in history, said a Reuters report.

Asian stocks advanced on Monday as Wall Street rallied after a deal was announced to reopen the US government following a prolonged shutdown that had shaken investor sentiment, it said.

On the earnings front, as many as 54 companies will be announcing their results for the December quarter which include names like Bank of India, Canara Bank, CEAT, City Union Bank, Escorts, Ramco Systems, Shriram Transport Finance, Tata Power, Wockhardt, and Vaibhav Global among others.

Stocks in news:

Fair trade regulator CCI has given green signal to Cadila Healthcare along with three other entities to acquire shares worth Rs 2,575 crore in Zydus Wellness. Zydus Wellness will fund its acquisition of Heinz India Pvt Ltd through share sale.

Housing finance company DHFL on Friday reported a 36.7 percent decline in its net profit to Rs 313.60 crore for the third quarter ended December 2018. The Mumbai-based company had posted a net profit of Rs 495.44 crore in the third quarter of last fiscal.

Larsen & Toubro has reported strong set of earnings for the quarter ended December 2018 as profit grew by 37 percent year-on-year to Rs 2,042 crore, driven by strong revenue growth and operational performance.

Morgan Stanley maintains an overweigh rating with a target of Rs 1786

Kotak Institutional Equities: Buy| Target: Rs 1530

Technical Recommendations:

We spoke to 5nance.com and here’s what they have to recommend:

Wipro Ltd: Buy | Target: Rs. 371 | Stop-Loss: Rs. 330 | Upside: 5%

Graphite India Ltd: Sell | Target: Rs. 530 | Stop-Loss: Rs. 577 | Downside: 4%

ICICI Prudential Life Insurance Ltd: Sell | Target: Rs. 290 | Stop-Loss: Rs. 310 | Downside: 3%

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