Nifty likely to open lower
The Nifty50 is expected to open flat-to-lower on Thursday following muted trend seen in other Asian markets as investors feared a looming U.S. trade war with Mexico would further depress global growth. Wall Street had ended Wednesday in the black helped by speculation the Federal Reserve would have to cut interest rates as insurance against a tariff-driven slowdown, said a Reuters report. Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 37 points or 0.31 percent. Nifty futures were trading around 12,044-level on the Singaporean Exchange. All economists on the CNBC-TV18 panel unanimously voted for a 25 basis points rate cut and four of the five members expect the RBI to keep a 'neutral' stance. The RBI's next monetary policy will be announced on June 6.
Global Market
Asian Markets: Asian markets are higher today as Chinese and Hong Kong shares show gains. The Shanghai Composite is up 0.84% while the Hang Seng is up 0.20%. 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 0.82% and the IPC rose 0.41%. The Bovespa lost 1.05%.
European Markets: European markets finished higher today with shares in France leading the region. The CAC 40 is up 0.45% while London's FTSE 100 is up 0.08% and Germany's DAX is up 0.08%.
Major Headlines of the day:
Rupee opens at 69.40 per dollar.
Asian stocks mixed as Mexico tensions sap risk appetite Elsewhere, West Texas Intermediate crude entered a bear market and Brent tumbled below $60 after US petroleum inventories ballooned.
Japan PMDA completes Lupin Mandideep facility inspection The inspection was conducted between May 14, 2019 and May 17, 2019.
Muthoot Capital completes Rs140.37cr securitization transaction The entire pool is from the non-priority sector and has been taken after considering the guidelines prescribed by the Reserve Bank of India in this regard.
Performance of domestic steel industry to remain sequentially weaker in Q1: ICRA The Union Budget for FY20 to be presented in July 2019 would provide guidance towards Government thrust to the sector.
Trend in FII flows:- The FIIs were Net Value of Rs -416.08 segment while the DIIs were Net Value of -355.42 the provisional figures.
Securities in Ban For Trade Date 06-JUNE-2019
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