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| CapitalStars Investment Adviser |
Market Live: Nifty likely to open lower.
The Nifty50 is expected to open lower on Wednesday tracking weak trend seen in other Asian markets ahead of the US Federal Reserve outcome, and fresh trade war concerns following threats from President Donald Trump to Beijing. As a new round of U.S.-China trade negotiations started in Shanghai, Trump tweeted that, if he wins re-election in November 2020, the outcome could be no agreement or a harsher one, said a Reuters report. Overnight, US markets ended lower. The Dow Jones Industrial Average fell 23.33 points to 27,198.02, the S&P 500 lost 7.79 points to 3,013.18, and the Nasdaq Composite dropped 19.72 points to close at 8,273.61. The S&P BSE Sensex fell 289 points to 37,397 while the Nifty50 closed 103 points lower at 11,085 on Tuesday.
Global Market:
Asian Markets: Asian markets are lower today as Japanese and Hong Kong shares fall. The Nikkei 225 is off 0.97% while the Hang Seng is down 0.82%. The Shanghai Composite is not trading.
US Markets: North and South American markets finished lower today with shares in Brazil leading the region. The Bovespa is down 0.53% while Mexico's IPC is off 0.28% and U.S.'s S&P 500 is lower by 0.26%.
European Markets: European markets finished broadly lower today with shares in Germany leading the region. The DAX is down 2.18% while France's CAC 40 is off 1.61% and London's FTSE 100 is lower by 0.52%.
Major Headlines of the day:
Rupee stands at 68.92 per dollar.
UPL Q1FY20E Result Expectation We expect overall EBITDA margin, including Arysta, at 21% led by write-off on Arysta's inventories as compared to 4QFY19.
RBI eases ECB norms for corporates, NBFCs Eligible borrowers will now be allowed to raise ECBs from recognised lenders, except foreign branches/overseas subsidiaries of Indian banks.
Shoppers Stop's net profit at Rs2.4cr in Q1 The company posted an EBITDA of Rs50.1cr in the quarter, up by 15.4% owing to significant operational efficiencies.
Earnings Reaction To Watch
AJANTA PHARMA
APOLLO TYRE
ASHOK LEYLAND
BLUE DART
EICHER MOTORS
IOC
MOTILAL OSWAL
STAR CEMENT
TATA GLOBAL BEV
TRENT
UPL
Trend in FII flows:- The FIIs were Net Value of Rs -644.59 segment while the DIIs were Net Value of 1079.72 the provisional figures.
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