Nifty likely to open flat.
Benchmark indices mixed in pre-opening trade; Asian indices lower, SGX Nifty fell 17 points to 11,656 and Asian markets are under pressure. Bulls remained in control of D-Street for the third consecutive day in a row. But, selling pressure at higher levels spoiled the party as index closed slightly above its opening levels making a Spinning Top kind of pattern on the charts The S&P BSE Sensex closed with gains of over 80 points while Nifty50 failed to hold on to 11700 levels on closing basis| But, the momentum still remains intact as the index is making higher high and higher low.
Global Market:
Asian Markets: Asian markets are lower today as Chinese and Hong Kong shares fall. The Shanghai Composite is off 0.60% while the Hang Seng is down 0.42%. 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 0.08%, while the IPC led the S&P 500 lower. They fell 1.19% and 0.65% respectively.
European Markets: European markets finished lower today with shares in France leading the region. The CAC 40 is down 0.76% while Germany's DAX is off 0.72% and London's FTSE 100 is lower by 0.55%.
Major Headlines of the day:
Rupee stands at 68.76 per dollar.
Union Budget FY19-20 ensures strong vigilance & short-term liquidity for NBFCs & HFCs: Fitch Group Ind-Ra estimates the total pass-through certificate transactions in FY19 to be around Rs850 bn.
India and US bilateral trade at crossroads: Report. The report, 'Trade at a Crossroads: A Vision for the US-India Trade Relationship', said it was clear that the first priorities for the future should be to manage current challenges and address those that were likely immediately ahead.
Menon Bearings' Q1FY20 net profit down 7% at Rs4.73cr The company total income rose by 4% in Q1 at Rs41.27cr from Rs39.86cr for the corresponding quarter ended June 30, 2018.
Earnings Reaction To Watch
ACC
COLGATE
CYIENT
DBCORP
L&TINFOTECH
Trend in FII flows:- The FIIs were Net Value of Rs -16.97 segment while the DIIs were Net Value of 208.88 the provisional figures.
Securities in Ban For Trade Date 18-JULY-2019
RELCAPITAL
IDBI
DHFL
RELINFRA
TATAELXSI
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