Markets@Moneycontrol: Nifty likely to open gap-down; 3 stocks which can give up to 11% return

The Nifty50 is expected to open with a gap on the lower side on Friday tracking heavy sell-off in other Asian markets. The Nifty50 closed 40 points lower at 10,114 on Thursday.

Trends on SGX Nifty indicate a negative opening for the broader index in India, falling 117.5 points or 1.16 percent. Nifty futures were trading around 10,000-level on the Singapore Stock Exchange.

US stocks slumped on Thursday as President Donald Trump's move to impose tariffs on up to $60 billion of Chinese imports drove fears about the impact on the global economy, fuelling the biggest percentage declines in Wall Street's three major indexes since they entered correction territory six weeks ago, reports Reuters.

The Dow Jones Industrial Average fell 724.42 points, or 2.93 percent, to 23,957.89, the S&P 500 lost 68.24 points, or 2.52 percent, to 2,643.69, and the Nasdaq Composite dropped 178.61 points, or 2.43 percent, to 7,166.68.

Asian markets slumped early on Friday, tracking sharp falls in U.S. and European stocks, which took a hit on fears of a potential trade war. In Tokyo, the Nikkei 225 fell 2.97 percent in the morning and the broader Topix lost 2.43 percent, with its 33 sectors trading lower across the board, CNBC reported.

Stocks in news:

United Spirits: The firm will consider sub-division of equity shares.

Indraprastha Gas: Announces Reduction In CNG Price In Uttar Pradesh

Idea Cellular: Existing leadership teams to continue to manage their separate businesses.

Union Bank of India: CBI registers a case on a complaint filed by the bank against Totem Infra.

Tata Sons: Appoints Tanmoy Chakrabarty as its govt affairs officer

Hero Motocorp: The firm has hiked stake in Colombian jt venture to 68%

Cox & Kings: The company has sold 11.58% stake in subsidiary

Technical Recommendations:

Here’s what Ways2Wealth Brokers has to recommend:

BPCL: Sell around 420 - 425| Target 385 - 370| Stop Loss 439| Timeframe 15 to 21 sessions| Return 10%

Ashok Leyland: Sell around 144 - 146| Target 136 - 132| Stop loss 149| Timeframe 15 to 21 trading sessions| Return 7%

Persistent Systems Ltd: Buy around 785 - 780| Target 875| Stop loss 740| Timeframe 15 to 21 trading session| Return 11%

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are his own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.