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Wednesday 24 July 2019

CAPITALSTARS MORNING MAIL UPDATE : NIFTY LIKELY TO OPEN HIGHER : 25 JULY 2019

CapitalStars Investment Adviser


Market Live: Nifty likely to open higher .

The Nifty50 is expected to open higher on Thursday tracking Asian markets which were trading cautiously ahead of the ECB meeting. Overnight, US markets hit another fresh record high. Trends on SGX Nifty indicate a positive opening for the broader index in India, a gain of 21.50 points or 0.19 percent. Nifty futures were trading around 11,294-level on the Singaporean Exchange. India's monsoon rains were 35% below average in the week ending on July 24, with little rainfall over the central, western and northern parts of the country, the weather office said, raising concerns over the output of summer-sown crops. The Indian rupee furthered its weakening trend for a third session in a row on July 24, edging lower by 4 paise to 68.98 against the US dollar as foreign fund outflows and higher crude oil prices weighed on sentiment.

Global Market:
Asian Markets: Asian markets are higher today as Japanese and Hong Kong shares show gains. The Nikkei 225 is up 0.33% while the Hang Seng is up 0.31%. The Shanghai Composite is not trading. 
US Markets: North and South American markets finished higher today with shares in Mexico leading the region. The IPC is up 0.57% while U.S.'s S&P 500 is up 0.47% and Brazil's Bovespa is up 0.40%.
European Markets: European markets finished mixed as of the most recent closing prices. The DAX gained 0.26%, while the FTSE 100 led the CAC 40 lower. They fell 0.73% and 0.22% respectively.

Major Headlines of the day:
Rupee stands at 68.98 per dollar.
Cabinet approves sale of Fertilizers and Chemicals Travancore land to Govt. of Kerala According to the deal, 150 acres of land at the rate of Rs1cr per acre (in lieu, Govt. of Kerala agreed to give free-hold right over 143.22 acres of land to FACT); and remaining 331.79 acres at Rs2.4758cr per acre as assessed by the District Collector of Ernakulam.
Bajaj Finance Q1FY20E Result Expectation We forecast loan growth will remain strong at 36% yoy, however lower than 41% reported in 4QFY19.
Cabinet approves determination of FRP of sugarcane payable by sugar mills for 2019-20 sugar season The CCEA also approved to provide a premium of Rs2.75 per qtl for every 0.1% increase above 10% in the recovery.
Tata Motors (Consolidated) Q1FY20E Result Expectation Company is expected to report 7% decline in consolidated revenue due to weakness in both JLP and domestic business; domestic volume to decline by 22% yoy.

Earnings Reaction To Watch
AMBUJA CEMENTS
BAJAJ FINANCE
BAJAJ FINSERV
BANK OF BARODA
BIOCON
GRUH FINANCE
IFB INDUSTRIES
JUBILANT IND
MPHASIS
PVR
TATA MOTORS

Trend in FII flows:- The FIIs were Net Value of Rs -1393.71 segment while the DIIs were Net Value of 2140.26 the provisional figures.

Securities in Ban For Trade Date 25-JULY-2019
DISHTV
IDBI

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