Nifty likely to open lower
The Nifty50 is likely to open lower on Friday tracking muted trend seen in other Asian markets. The index closed 6.95 points higher at 11,069 on Thursday. Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 32.5 points or 0.29 percent. Nifty futures were trading around 11,062-level on the Singaporean Exchange. Wall Street stocks tanked on Thursday as worries that the United States and China would not be able to reach a trade deal increased concerns about slowing global economic growth, said a Reuters report.
Global Market:
Asian Markets: Shares in Hong Kong are lower today as the Hang Seng falls 0.76%. The stock markets in Tokyo and Shanghai are closed at this time.
US Markets: North and South American markets finished lower today with shares in U.S. leading the region. The S&P 500 is down 0.94% while Mexico's IPC is off 0.53% and Brazil's Bovespa is lower by 0.24%.
European Markets: European markets finished sharply lower today with shares in Germany leading the region. The DAX is down 2.67% while France's CAC 40 is off 1.84% and London's FTSE 100 is lower by 1.11%.
Major Headlines of the day:
Rupee opens at 71.59 per dollar.
The Monetary Policy Committee (MPC) on expected lines changed its policy stance to 'neutral' from 'calibrated tightening' in its meeting on Thursday and also slashed repo rate by 25 bps. Consequently, the reverse repo rate under the liquidity adjustment facility or LAF stands adjusted to 6.0 percent, and the marginal standing facility (MSF) rate and the Bank Rate to 6.5 percent.
Earnings Reaction To Watch
AVANTI FEED
BALKRISHNA INDUSTRIES
LALPATH LAB
M&M
SUN TV
TATASTEEL
Trend in FII flows:- The FIIs were Net Value of Rs 418.01 segment while the DIIs were Net Value of 294.11 the provisional figures.
Securities in Ban For Trade Date 08-FEB-2019
1. ADANIENT
2. DHFL
3. IDBI
4. JETAIRWAYS
5. RELINFRA
6. RPOWER
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