Market Headstart: Nifty likely to open flat; 3 stocks which could give 4-9% return

The Nifty50 is expected to open flat on Monday tracking mixed trend seen in other Asian markets which were subdued as oil prices firmed on worries over heightened tensions between the United States and Iran.

On Friday, Wall Street shares closed slightly lower after hitting a record high thanks to dovish signals last week from the Federal Reserve that it would cut interest rates soon to bolster its economy from protracted trade conflicts, said a Reuters report.

Trends on SGX Nifty indicate a flat opening for the broader index in India, a fall of 1.5 points or 0.01 percent. Nifty futures were trading around 11,752-level on the Singaporean Exchange.

The rupee dived 14 paise to close at 69.58 against the US dollar June 21, pressured by firming crude oil prices amid intensifying geopolitical tensions in the Gulf region.

Overseas investors have infused a net sum of Rs 10,312 crore in the domestic capital markets this month so far, with debt segment accounting for the lion's share.

Stocks in news:

Adani Ports & SEZ is tapping the international debt market to raise up to $1 billion to fund its capex plans and also to retire some of its debt, according to merchant banking sources.

Drug firm Neuland Laboratories June 21 said it has received five observations from the US health regulator after inspection of Unit 1 of its facility at Bonthapally in Telangana.

Drug major Sun Pharmaceutical Industries June 21 said it has received four observations from the US health regulator for its Halol facility in Gujarat.

Technical Recommendations:

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

ICICI Bank: Buy| Target: Rs 451| Stop Loss: Rs 418| Upside 5%

CONCOR: Buy| Target: Rs 577| Stop Loss: Rs 537| Upside 5%

NMDC: Buy| Target: Rs 113| Stop Loss: Rs 103| Upside 9%

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