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Sunday 28 July 2019

CAPITALSTARS MORNING MAIL UPDATE : NIFTY LIKELY TO OPEN FLAT : 29 JULY 2019

CapitalStars Investment Adviser

Market Live: Nifty likely to open flat.

The Nifty50 is expected to open flat on Monday following a mixed trend seen in Asian markets which were trading cautiously as markets count down to a likely cut in U.S. interest rates this week. US and Chinese trade negotiators also meet in Shanghai this week for their first in-person talks since a G20 truce last month, but expectations are low for a breakthrough, said a Reuters report. On Friday, strong earnings from key heavyweights took the S&P 500 and Nasdaq indexes to record highs. The Dow Jones Industrial Average rose 51.2 points to 27,192.18, the S&P 500 gained 22.19 points to 3,025.86 and the Nasdaq Composite added 91.67 points to 8,330.21. Trends on SGX Nifty indicate a flat opening for the broader index in India, a loss of 8.50 point. The Nifty futures were trading around 11,320-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 0.14% while the Hang Seng is down 1.12%. The Nikkei 225 is not trading.
US Markets: North and South American markets finished mixed as of the most recent closing prices. The S&P 500 gained 0.74% and the Bovespa rose 0.16%. The IPC lost 0.63%.
European Markets: European markets finished higher on Friday with shares in London leading the region. The FTSE 100 is up 0.80% while France's CAC 40 is up 0.57% and Germany's DAX is up 0.47%.

Major Headlines of the day:
Rupee stands at 68.94 per dollar.
Jubilant Life Sciences Q1 profit down 9% yoy Revenue for the first quarter came in at Rs2,182cr, up by 5% vs. Rs2,079cr on yoy basis.
USFDA clears lndoco Remedies' Goa Plant II and Ill; stock up 15% The inspection was held from May 27, 2019 to June 04, 2019, where the Company had received 4 observations (483s).
Punjab National Bank posts profit at Rs1,018.6cr in Q1 vs. net loss yoy Its net NPA was at 7.17% against 6.56%, while gross NPA at 16.49% against 15.50% on qoq basis.

Earnings Reaction To Watch
BHEL
ALEMBIC PHARMA
DLF
DRREDDY
CHENNAI PETRO
MUTHOOT CAP
TATA SPONGE

Trend in FII flows:- The FIIs were Net Value of Rs -1503.26 segment while the DIIs were Net Value of 1917.52 the provisional figures.

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