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| CapitalStars Investment Adviser |
Market Live: Nifty likely to open higher.
The Nifty50 is likely to open higher on Tuesday following Asian markets which were trading with a positive bias as equity investors are building in hopes for an expected U.S. interest rate cut this week. The U.S. Federal Reserve begins a two-day policy meeting later on Tuesday, at which it is widely expected to lower interest rates by 25 basis points. If implemented, it would be the central bank first rate cut in a decade, said a Reuters report. The Dow Jones Industrial Average rose 28.96 points to 27,221.41, the S&P 500 lost 4.88 points to 3,020.98, and the Nasdaq Composite dropped 36.88 points, to 8,293.33. Trends on SGX Nifty indicate a positive opening for the broader index in India, with 0.22 percent gain or 25 points. Nifty futures were trading around 11,236-level on the Singaporean Exchange.
Global Market:
Asian Markets: Asian markets are higher today as Japanese and Hong Kong shares show gains. The Nikkei 225 is up 0.68% while the Hang Seng is up 0.51%. The Shanghai Composite is not trading.
US Markets: North and South American markets finished mixed as of the most recent closing prices. The IPC gained 1.48% and the Bovespa rose 0.65%. The S&P 500 lost 0.16%.
European Markets: European markets finished mixed as of the most recent closing prices. The FTSE 100 gained 1.82%, while the CAC 40 led the DAX lower. They fell 0.16% and 0.02% respectively.
Major Headlines of the day:
Rupee stands at 68.75 per dollar.
DLF's Q1FY20 net profit soars 140% yoy to Rs413cr Net sales of Rs705cr in this quarter have been achieved and the co. expects this momentum to continue.
Strides Pharma adj. PAT at Rs52.3cr in Q1FY20 For the quarter, EBITDA stood at Rs123.9cr, a growth of 155% yoy vs. Rs48.6cr over the corresponding quarter of the previous year.
Earnings Reaction To Watch
AXISBANK
BANK OF INDIA
CHOLAMANDALAM
DISHTV
GRANUELS
GULF OIL LUBRIC
HEROMOTOCO
NMDC
ORIENT ELECTRIC
PEL
PNB HOUSING FIN
TECH MAHINDRA
VIP INDUSTRIES
Trend in FII flows:- The FIIs were Net Value of Rs -704.42 segment while the DIIs were Net Value of 1351.64 the provisional figures.
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