Nifty likely to open lower.
Nifty is likely to open lower on May 14 following muted trend seen in other Asian markets as the trade war between China and the United States escalated. Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 50 points or 0.45 percent. Nifty futures were trading around 11,135 on the Singaporean Exchange. China on May 13 announced it would impose higher tariffs on $60 billion of US goods following Washington decision last week to hike its own levies on $200 billion in Chinese imports, said a Reuters report. Wall Street main indexes tumbled on May 13 after Beijing announced plans to retaliate with higher tariffs on US goods, raising fears that another round of tit-for-tat measures could push the US economy toward recession.
Global Market:
Asian Markets: Asian markets are lower today as Japanese and Hong Kong shares fall. The Nikkei 225 is off 0.73% while the Hang Seng is down 1.60%. The Shanghai Composite 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 2.69% while U.S.'s S&P 500 is off 2.41% and Mexico's IPC is lower by 0.55%.
European Markets: European markets finished broadly lower today with shares in Germany leading the region. The DAX is down 1.52% while France's CAC 40 is off 1.22% and London's FTSE 100 is lower by 0.55%.
Major Headlines of the day:
Godrej Industries Q4FY19 PAT at Rs423.65cr The company total income during the March quarter was at Rs3,141.28cr.
NIIT Tech completes divestment of stake in ESRI India Consequent to the stake sale, ESRI India Technologies Limited, India shall cease to be subsidiary of the Company with immediate effect.
Hero MotoCorp lines up Rs1,500cr capex for FY20: Media reports The company is setting up a new plant in Andhra Pradesh.
Earnings Reaction To Watch
EDELWEISS
NEESTLE
PIDILITIND
POLYCAB
SIEMENS
INDIAN BANK
Trend in FII flows:- The FIIs were Net Value of Rs -1056.01 segment while the DIIs were Net Value of 1057.91 the provisional figures.
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