Nifty likely to open flat.
The Nifty50 is likely to open flat on Friday following recovery in Asian markets but nervousness remains ahead of the Donald Trump administration plan to raise tariffs on Chinese imports. U.S. President Donald Trump said on Thursday he had received a beautiful letter from Chinese President Xi Jinping, stoking hopes that Washington may suspend its plan to raise tariffs on $200 billion worth of Chinese goods to 25 percent from 10 percent. That provided some support for stocks in early Asian trade though sentiment remains cautious, said a Reuters report. Wall Street main indexes fell on Thursday ahead of critical trade negotiations between the United States and China, though they pared losses significantly after US President Donald Trump said reaching a deal this week was possible.
Global Market:
Asian Markets: Asian markets are higher today as Chinese and Hong Kong shares show gains. The Shanghai Composite is up 1.22% while the Hang Seng is up 0.59%. The Nikkei 225 is not trading.
US Markets: North and South American markets finished lower today with shares in Brazil leading the region. The Bovespa is down 0.83% while Mexico's IPC is off 0.50% and U.S.'s S&P 500 is lower by 0.30%.
European Markets: European markets finished broadly lower today with shares in France leading the region. The CAC 40 is down 1.93% while Germany's DAX is off 1.69% and London's FTSE 100 is lower by 0.87%.
Major Headlines of the day:
Rupee opens at 70.05 per dollar.
Welspun Corp to consider share buyback proposal on May 14 Besides, the company has bagged additional pipe orders of 103KMT which will be serviced from India.
Maruti Suzuki cuts production by 9.6% in April However, the production of utility vehicles and Light commercial vehicles increased by 8.4% yoy and 48.5% yoy, respectively.
Asian Paints declines 3% post Q4FY19 numbers Consolidated revenue (net of excise duty in the base quarter) of the company grew 11.9% yoy to Rs5,018.2cr (~4% below consensus estimates).
HCL Tech Q4 profit grows 15.3% to Rs 2,568 cr; announces dividend of Rs 2 For FY20, the company has increased its revenue guidance from 9.5 -11.5 percent to 14-16 percent in constant currency. The company expects operating margin (EBIT) to range from 18.5 percent to 19.5 percent.
Earnings Reaction To Watch
CANARA BANK
EICHERMOT
KAJARIA CERAMIC
L&T
MERCK
PVR
SBIN
Financial
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