Nifty likely to open higher.
The Nifty50 is likely to open higher on Tuesday following positive trend seen in other Asian markets, but it is hovering near 5-week low. Overnight, US markets closed lower after President Donald Trump pledged to raise tariffs on Chinese goods. Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 32 points or 0.27 percent. Nifty futures were trading around 11,688-level on the Singaporean Exchange. US stocks fell on Monday after President Donald Trump pledged to raise tariffs on Chinese goods, though Wall Street finished well off its session lows as some investors saw Trump comments as a bargaining tactic and expressed confidence in an eventual trade agreement, said a Reuters report. Asian shares wallowed near five-week lows on early Tuesday after US President Donald Trump threat to raise tariffs re-ignited worries about US-China trade tensions while Japan Nikkei opened down after a 10-day break.
Global Market:
Asian Markets: Asian markets are higher today as Chinese and Hong Kong shares show gains. The Shanghai Composite is up 0.62% while the Hang Seng is up 0.55%. The Nikkei 225 is not trading.
US Markets: North and South American markets finished broadly lower today with shares in Brazil leading the region. The Bovespa is down 1.04% while U.S.'s S&P 500 is off 0.45% and Mexico's IPC is lower by 0.36%.
European Markets: European markets finished mixed as of the most recent closing prices. The FTSE 100 gained 0.40%, while the CAC 40 led the DAX lower. They fell 1.18% and 1.01% respectively.
Major Headlines of the day:
Rupee opens at 69.37 per dollar.
HDFC Bank to consider stock split on May 22 The board will consider a stock split in the ratio of 2 for every 1 share.
VST Tillers April total sales at 721 units The company power tillers sale declined by 57% at 289 units vs. 668 units.
CG Power terminates deal for selling of Hungary business Ganz Villamossagi and Alester Holdings had agreed to buy CG Power Hungary business (excluding switchgear) at an enterprise value of 38mn.
Earnings Reaction To Watch
CEAT
ESCORTS
STAR CEM
VEDL
VIP INDUSTRIES
Trend in FII flows:- The FIIs were Net Value of Rs -948.98 segment while the DIIs were Net Value of 89.89 the provisional figures.
Securities in Ban For Trade Date 07-MAY-2019
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