In other Asian markets, shares were mixed as a bounce in US stock futures soothed sentiment even as US President Donald Trump kept up his twitter war with China over trade just a couple of days before President Xi Jinping gives a keynote speech. For now, investors in Asia were encouraged that E-Mini futures for the S&P 500 were still up 0.4 per cent, while NASDAQ futures rose 0.6 percent. MSCI's broadest index of Asia-Pacific shares outside Japan inched up 0.1 per cent. Japan's Nikkei wavered either side of flat, and South Korea edged ahead by 0.2 per cent. US President Donadl Trump late on Thursday threatened to slap $100 billion more in tariffs on Chinese imports, while Beijing said it was fully prepared to respond with a "fierce counter strike".
Analysts warned the drama would be a long-running one given the lengthy public discussion period on US tariff proposals meant the earliest they might be imposed was somewhere around late July or early August.
Market experts shared their top trading and short-term picks.
Lovelesh Sharma of Epic Research:
Buy Vedanta with target of Rs 308 and stop-loss of Rs 270
Simi Bhaumik, research analyst
Jubilant FoodWorks at a minor dip near Rs 2420-2410 range with stop-loss of Rs 2,390 and targets of Rs 2470 and Rs 2490
Buy Balkrishna Industries at a minor dip near Rs 1210-1200 range with stop-loss of Rs 1,190 and targets of Rs 1245, Rs 1255 and Rs 1270
Buy Titan at a minor dip near Rs 936-934 range with stop-loss of Rs 930 and targets of Rs 952 and Rs 957. (With Agency Inputs)
Disclaimer: Investors are advised to make their own assessment before acting on the information.
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