Markets@Moneycontrol: Nifty likely to open flat; 3 stocks which could give 8-9% return

The Nifty50 is likely to open flat on Friday following muted trend seen in other Asian markets. The Nifty closed 30 points lower at 10,741 on Thursday.

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 34.5 points or 0.32 percent. Nifty futures were trading around 10,698-level on the Singaporean Exchange.

US stocks fell on Thursday, with the Dow slumping for an eighth straight decline as industrials wobbled again on trade war concerns while Amazon and other online retailers weakened after a US Supreme Court ruling on state sales tax collection, said a Reuters report.

Asian shares were under pressure on Friday on signs US trade battles with China and many other countries are starting to chip away at corporate profits, with oil prices choppy ahead of major producers meeting to discuss raising output.

Oil prices fell on Thursday as crude exporters in Organization of the Petroleum Exporting Countries (OPEC) appeared to be nearing a deal to increase production.

Stocks in news:

ICICI Bank: Sebi yet to receive reply on Kochhar issue

Blue Star: Company expects home water purifier sales worth Rs 400 cr in 3 years

Can Fin Homes: Company to seek shareholders' nod for Rs 7,000 cr fund mop-up

Tata Motors: Company plans to drive in 50 commercial vehicles this fiscal

Indiabulls Real Estate: Company to raise Rs 480 cr via debentures

Astral Poly: The company started commercial production of CPVC and PVC pipes at its new plant situated at Ghiloth.

AstraZeneca Pharma: Company receives marketing permission for Durvalumab (ImfinziTM) in India.

Technical Recommendations:

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

Glenmark Pharma: Buy| Target: Rs 652| Stop Loss: Rs 579| Returns 8.5%

M&M Finance Ltd: Buy| Target Rs 535| Stop Loss: Rs 473| Returns 9%

Bata India Ltd: Buy| Target: Rs 909| Stop Loss: Rs 799| Returns 9%

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