Nifty likely to open higher
The Nifty50 is likely to open higher on Tuesday following a mixed trend seen in other Asian markets. Investors are cautious ahead of the Federal Reserve interest rate meeting on June 18-19. Wall Street edged higher on Monday, supported by Facebook, Amazon, and Apple, as investors awaited a key Federal Reserve meeting that is expected to lay the groundwork for an interest rate cut later this year, said a Reuters report. Trends on SGX Nifty indicate a flat-to-positive opening for the benchmark index in India, a rise of 10 points or 0.09 percent. Nifty futures were trading around 11,708-level on the Singaporean Exchange. The Indian rupee June 17 fell by another 11 paise to close at 69.91 to the US currency, its third straight-session loss, in line with intense sell-offs in domestic equities amid concerns over Indo-US trade tariff disagreements.
Global Market:
Asian Markets: Asian markets are higher today as Japanese and Hong Kong shares show gains. The Nikkei 225 is up 0.27% while the Hang Seng is up 0.69%. The Shanghai Composite is not trading.
US Markets: North and South American markets finished mixed as of the most recent closing prices. The S&P 500 gained 0.09%, while the Bovespa led the IPC lower. They fell 0.43% and 0.38% respectively.
European Markets: European markets finished mixed as of the most recent closing prices. The CAC 40 gained 0.43% and the FTSE 100 rose 0.16%. The DAX lost 0.09%.
Major Headlines of the day:
Rupee stands at 69.83 per dollar.
Biocon to sell branded formulations India business to unit The company has fixed July 01, 2019, as the expected date of completion of the sale and the consideration to be received is Rs45cr.
Tech Mahindra to acquire Objectwise Consulting The company said the acquisition would provide it access to Objectwise capabilities in the implementation and support of PEGA software, a business process management tool.
HDFC AMC to provide liquidity for some MF plans The liquidity arrangement may involve an aggregate outlay not exceeding Rs500cr and will be put in place shortly, the company stated.
No hope for Jet revival as lenders decide to take airline to NCLT Jet Airways shut operations on April 17 owing to a severe liquidity crunch, leaving thousands jobless.
Trend in FII flows:- The FIIs were Net Value of Rs -331.27 segment while the DIIs were Net Value of 1257.86 the provisional figures.
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