Nifty likely to open flat-to-lower.
The Nifty50 is expected to open flat-to-lower on Wednesday tracking Asian markets which were trading with positive bias. The rebound in sentiment came after the People Bank of China took stepped in to stabilise the yuan with a firmer-than-expected fixing. The yuan had fallen sharply on Monday, going past the symbolic 7-per-dollar level, and prompting Washington to label Beijing a currency manipulator in a major escalation of the year-long trade dispute between the world two largest economies, said a Reuters report. Overnight, U.S. stocks jumped more than 1 percent. The Dow Jones Industrial Average rose 311.78 points to 26,029.52, the S&P 500 gained 37.03 points to 2,881.77 and the Nasdaq Composite added 107.23 points to 7,833.27. Trends on SGX Nifty indicate a negative opening for the broader index in India, with a 0.47 percent loss or 51.5 points. Nifty futures were trading around 10,911-level on the Singaporean Exchange.
Global Market:
Asian Markets: Asian markets are lower today as Chinese and Hong Kong shares fall. The Shanghai Composite is off 0.24% while the Hang Seng is down 0.82%. The Nikkei 225 is not trading.
US Markets: North and South American markets finished broadly higher today with shares in Brazil leading the region. The Bovespa is up 2.06% while U.S.'s S&P 500 is up 1.30% and Mexico's IPC is up 0.73%.
European Markets: European markets finished lower today with shares in Germany leading the region. The DAX is down 0.78% while London's FTSE 100 is off 0.72% and France's CAC 40 is lower by 0.13%.
Major Headlines of the day:
Rupee stands at 70.96 per dollar.
IRB Infra gets Rs4,000cr investment by GIC affiliates for road biz As part of the transaction, IRB Infra will transfer 9 of its BOT assets into a private Infrastructure Investment Trust in which IRB will hold controlling stake of 51%.
Reliance Industries and BP expand partnership to sell transport fuels in India This is a further development of RIL and BP longstanding partnership, which began in 2011 and expanded in 2017 including an agreement to seek options to work together to develop differentiated fuels and mobility businesses.
Earnings Reaction To Watch
ADANI PORTS
ADANI POWER
AUROPHARMA
BAJAJ ELECTRIC
BALRAMPUR CHINI
CIPLA
CUMMINS
HCLTECH
HPCL
M&M
PETRONET
RAMCOCEM
TATASTEEL
VOLTAS
SIEMENS
Trend in FII flows:- The FIIs were Net Value of Rs -2107.93 segment while the DIIs were Net Value of 2289.05. the provisional figures.
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