Nifty likely to open flat.
The Nifty50 is likely to open flat on Wednesday following a mixed trend seen in other Asian markets after White House took a tough line on a trade deal with China. Overnight, US markets ended near flat and the Dow snapped a six-day winning streak on Tuesday, as investors paused following a run of gains and fresh worries emerged over the U.S. trade war with China, said a Reuters report. Trends on SGX Nifty indicate a flat opening for the broader index in India, a fall of 16 points or 0.14 percent. Nifty futures were trading around 11,964-level on the Singaporean Exchange. Macro data will be in focus and is all the more important post RBI policy review. On Wednesday, June 12 we have CPI (YoY) data for the month of May and WPI Inflation (YoY) for May would be on Friday, June 14, 2019.
Global Market:
Asian Markets: Asian markets are lower today as Chinese and Hong Kong shares fall. The Shanghai Composite is off 0.48% while the Hang Seng is down 1.44%. The Nikkei 225 is not trading.
US Markets: North and South American markets finished mixed as of the most recent closing prices. The Bovespa gained 1.16% and the IPC rose 0.24%. The S&P 500 lost 0.03%.
European Markets: European markets finished higher today with shares in Germany leading the region. The DAX is up 0.92% while France's CAC 40 is up 0.48% and London's FTSE 100 is up 0.31%.
Major Headlines of the day:
Rupee opens at 69.44 per dollar.
FY20 IT Services growth to remain at US$ 6-8%, pressure on margin to persist: ICRA Despite pressure on growth and margins, the credit profile of Indian IT Services companies is expected to remain stable underpinned by its ability to sustain free cash flows.
Moody's places Yes Bank's ratings under review for downgrade In addition, Moody's has affirmed the bank's short-term foreign and local currency bank deposit rating of NP.
BHEL rises 2% on order wins worth Rs 440 crore The order is valued at over Rs 440 crore, which has been placed by Nuclear Power Corporation of India.
Trend in FII flows:- The FIIs were Net Value of Rs 95.79 segment while the DIIs were Net Value of -151.01 the provisional figures.
Securities in Ban For Trade Date 12-JUNE-2019
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