Nifty likely to open flat.
The Nifty50 is expected to open flat-to-negative note on Wednesday tracking Asian markets which were trading lower after US Federal Reserve officials tempered expectations in the markets for aggressive monetary easing. Fed Chair Jerome Powell on Tuesday said the central bank is insulated from short-term political pressures, pushing back against U.S. President Donald Trump demand for a significant rate cut, said a Reuters report. All three major U.S. stock indexes ended the session in the red after Powell said the Fed was grappling with whether trade uncertainties and other issues warrant rate cuts, said the report. Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 20 points or 0.17 percent. Nifty futures were trading around 11,772-level on the Singaporean Exchange.
Global Market:
Asian Markets: Japanese shares are lower today as the Nikkei 225 falls 0.41%. The stock markets in Hong Kong and Shanghai are closed at this time.
US Markets: North and South American markets finished mixed as of the most recent closing prices. The IPC gained 0.11%, while the Bovespa led the S&P 500 lower. They fell 1.93% and 0.95% respectively.
European Markets: European markets finished mixed as of the most recent closing prices. The FTSE 100 gained 0.08%, while the DAX led the CAC 40 lower. They fell 0.38% and 0.13% respectively.
Major Headlines of the day:
Rupee stands at 69.40 per dollar.
RIL raises $1.85bn in long-term loan: Media reports The company said in the BSE filing on Tuesday that the Company on an ongoing basis evaluates financing opportunities with lenders in the normal course of business.
LIC reduces stake in Asian Paints by 2% With the sale of these shares, LIC's stake in Asian Paints has now come down to 3% from 5% earlier, as per a regulatory filing by LIC.
OMC leverage increased in FY19; May moderate in FY20: Ind-Ra Ind-Ra expects GRMs to improve in FY20 driven by increasing crack spread on diesel, supported by International Maritime Organisation (IMO) regulations, and improvement in refining complexities, distillate yields and capacity utilisations.
Trend in FII flows:- The FIIs were Net Value of Rs 1157.87 segment while the DIIs were Net Value of 377.22 the provisional figures.
Securities in Ban For Trade Date 26-JUNE-2019
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