Nifty likely to open flat.
The Nifty50 is expected to open flat-to-lower on Tuesday following Asian markets which were trading mixed as investors came to terms with sharply reduced expectations the Federal Reserve will deliver a large interest rate cut at the end of July. US stocks fell on Monday as Apple shares dropped following a broker downgrade and investors continued to weigh chances of an aggressive interest rate cut by the Federal Reserve later this month, said a Reuters report. Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 14 points or 0.12 percent. Nifty futures were trading around 11,554-level on the Singaporean Exchange. The rupee July 8 declined by 24 paise to close at 68.66 against the US dollar, cutting short its three winning run due to a massive selloff in equities and weakening expectations of a rate cut by the US Federal Reserve in near future.
Global Market:
Asian Markets: Asian markets are lower today as Japanese and Hong Kong shares fall. The Nikkei 225 is off 0.23% while the Hang Seng is down 0.78%. The Shanghai Composite is not trading.
US Markets: North and South American markets finished mixed as of the most recent closing prices. The Bovespa gained 0.42% and the IPC rose 0.42%. The S&P 500 lost 0.48%.
European Markets: European markets finished lower today with shares in Germany leading the region. The DAX is down 0.20% while France's CAC 40 is off 0.08% and London's FTSE 100 is lower by 0.05%.
Major Headlines of the day:
Rupee stands at 68.65 per dollar.
Glenmark receives USFDA approval for Ranolazine extended-release tablets According to IQVIATM sales data for the 12-month period ending May 2019, the Ranexa® ExtendedRelease Tablets, 500 mg and 1,000 mg market achieved annual sales of ~$929.0mn.
Hero Motocorp makes upward revision to product prices The company stated in a press release that the price increase across its range of two-wheelers has been 1% (of the ex-showroom price).
Titan says growth in jewelry segment lower than planned in Q1 Jewellery segment revenue grew by a muted ~13% in Q1FY19 as a sharp increase in gold prices dented consumer demand significantly in the month of June.
Trend in FII flows:- The FIIs were Net Value of Rs -401.99 segment while the DIIs were Net Value of 321.13 the provisional figures.
Securities in Ban For Trade Date 09-JULY-2019
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