Nifty likely to open higher
The Nifty50 is likely to open higher on Wednesday following positive trend seen in other Asian markets. The index closed 57 points lower at 10,831 on Tuesday. Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 21.5 points or 0.2 percent. Nifty futures were trading around 10,883-level on the Singaporean Exchange. Wall Street rallied on Tuesday as investors were heartened by a tentative congressional spending deal to avoid another partial federal government shutdown and by optimism surrounding US-China trade negotiations, said a Reuters report. Asian stocks pulled ahead and safe-haven government bonds came under further pressure on Wednesday on optimism the United States and China might be able to hammer out a deal to resolve their nearly year-long trade dispute.
Global Market:
Asian Markets: Asian markets are higher today as Chinese and Hong Kong shares show gains. The Shanghai Composite is up 0.52% while the Hang Seng is up 0.32%. The Nikkei 225 is not trading.
US Markets: North and South American markets finished mixed as of the most recent closing prices. The Bovespa gained 1.86% and the S&P 500 rose 1.29%. The IPC lost 0.40%.
European Markets: European markets finished broadly higher today with shares in Germany leading the region. The DAX is up 1.01% while France's CAC 40 is up 0.84% and London's FTSE 100 is up 0.06%.
Major Headlines of the day:
Rupee opens at 71.48 per dollar.
Sun Pharma net profit rises four-fold to Rs 1241.1 crore in Q3FY19 Revenues from operations gained 17 percent to Rs 7,933.25 crore compared to year ago Rs 6,782.42 crore.
Hindalco Q3 profit including Utkal surges 47% to Rs 713 cr, margin contracts Copper business revenue at Rs 5,925 crore increased by 4 percent and its operating income at Rs 431 crore was higher by 2.4 percent for quarter ended December 2018.
The Securities and Exchange Board of India (SEBI) is planning to tighten risk management practices in equity derivatives and stocks in the run-up to the general elections. The market regulator is likely to tighten margin rules for futures and options trades and restrict introduction of strike prices in options intra-day as it looks to curb wild speculation by traders, said three people privy to the development. It is also planning to bring more stocks under its surveillance schemes, they said. Brokers said the cost of trading in derivatives could rise by at least 20 per cent.
Earnings Reaction To Watch
ADANIENT
BHARAT FORGE
BOSCH
GODREJIND
GULF OIL LUBRIC
REL CAPITAL
Trend in FII flows:- The FIIs were Net Value of Rs -466.78 segment while the DIIs were Net Value of -122.64 the provisional figures.
Securities in Ban For Trade Date 13-FEB-2019
1. ADANIENT
2. DHFL
3. IDBI
4. JETAIRWAYS
5. RPOWER
6. RCAPITAL
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