Nifty likely to open flat.
The Nifty50 is expected to open flat on Tuesday following muted trend seen in other Asian markets. The index closed 112 points higher at 11,754 on Friday. Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 27.5 points or 0.23 percent. Nifty futures were trading around 10,842 - level on the Singaporean Exchange. The S&P 500 set an intraday record high on Monday, bolstering the view that the decade-long bull market has further to run, after consumer spending rose in March and inflation data was benign, said a Reuters report. Shares in Asia fell on Tuesday despite another record high close for the S&P 500, as investors await a US Federal Reserve policy decision for clues of whether it will continue to take a patient approach to interest rate policy.
Global Market:
Asian Markets: Asian markets are lower today as Chinese and Hong Kong shares fall. The Shanghai Composite is off 0.62% while the Hang Seng is down 0.46%. The Nikkei 225 is not trading.
US Markets: North and South American markets finished mixed as of the most recent closing prices. The S&P 500 gained 0.11%, while the Bovespa led the IPC lower. They fell 0.05% and 0.04% respectively.
European Markets: European markets finished higher today with shares in France leading the region. The CAC 40 is up 0.21% while London's FTSE 100 is up 0.17% and Germany's DAX is up 0.10%.
Major Headlines of the day:
Rupee opens at 69.83 per dollar.
L&T Finance Holdings Q4FY19 profit up 94% at Rs548cr For FY19, RoE stands at 17.92% as against 15.73% in FY18. The RoE for Q4FY19 is at 16.57%.
Wireless subscriber base increases by 1.7 mn in February: ICRA RJio leads the wireless broadband market, with a market share of 56%, followed by Bharti and Vodafone-Idea at 21% each.
Cholamandalam Investment & Finance Company Q4FY19 PAT at Rs292cr The Board of Directors of the Company have recommended sub-division of equity shares of Rs10/- each to five shares of Rs2/- each.
Discontinuation of Iranian oil imports to be a credit negative for domestic refineries: ICRA The increase in international oil prices is a credit negative for the Indian economy given that every US$1/ bbl rise in oil price increases the country import bill by ~US$1.4 bn, as per ICRA note.
Earnings Reaction To Watch
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