Nifty likely to open flat.
The Nifty50 is likely to open flat on Thursday following mixed trend seen in other Asian markets as trade war dispute between the US and China shows no visible sign of cooling off. Overnight, U.S. stocks fell with the S&P 500 and Nasdaq closing just above key support levels, as worries that a lengthy U.S.-China trade war would crimp global growth pushed investors into the safety of government bonds, said a Reuters report. Adding to worries, China Huawei Technologies Co Ltd filed a lawsuit against the U.S. government late on Tuesday in its latest bid to fight sanctions from Washington, added the report. The S&P BSE Sensex dropped 247 points to 39,502 while the Nifty50 fell by 67 points to close at 11,861 on Wednesday.
Global Market:
Asian Markets: Asian markets are lower today as Chinese and Hong Kong shares fall. The Shanghai Composite is off 0.78% while the Hang Seng is down 0.59%. The Nikkei 225 is not trading.
US Markets: North and South American markets finished mixed as of the most recent closing prices. The IPC gained 1.53% and the Bovespa rose 0.18%. The S&P 500 lost 0.69%.
European Markets: European markets finished sharply lower today with shares in France leading the region. The CAC 40 is down 1.70% while Germany's DAX is off 1.57% and London's FTSE 100 is lower by 1.15%.
Major Headlines of the day:
Rupee opens at 69.72 per dollar.
ICICI Lombard shares gain 3% on reports of likely stake sale by Warburg Pincus Warburg Pincus via Red Bloom Investment holds 5.86 percent stake in ICICI Lombard.
Bharti Airtel drops 2% after promoter group reduces stake; gets FCA nod for LSE listing The shareholding of the firm has now dropped to 41.24 percent or Rs 200.28 crore.
PNB falls 4% on reporting huge loss in Q4; Morgan Stanley remains bearish Morgan Stanley prefers large corporate lenders (over PNB) where it sees much better risk-reward.
Earnings Reaction To Watch
ALKEM LAB
APOLLOHOSP
BERGER PAINTS
COAL INDIA
ONGC
PC JEWELLER
UJJIVAN FIN
Trend in FII flows:- The FIIs were Net Value of Rs -304.27 segment while the DIIs were Net Value of -189.58 the provisional figures.
Securities in Ban For Trade Date 30-MAY-2019
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