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CAPITALSTARS- INDIAN EQUITY MARKET OUTLOOK FRIDAY UPDATE – 17 MAY 2019

capitalstars-Equity-market-Outlook

Market Live: Nifty likely to open flat.

The Nifty50 is likely to open flat on Friday tracking mixed trend seen in other Asian markets. Overnight, US markets ended higher on upbeat earnings and strong economic data.All three major U.S. stock indexes pared gains late in the session, adding less than 1% and bringing the bellwether S&P 500 close to 2 percent below an all-time high reached on April 30, said a Reuters report. Trends on SGX Nifty indicate a flat to negative opening for the broader index in India, a fall of 16.5 points or 0.15 percent. Nifty futures were trading around 11,288-level on the Singaporean Exchange. The rupee surged by 31 paise to close at 70.03 against the US dollar on Thursday amid a sharp rebound in the domestic equity markets, even as oil prices firmed up.

Global Market:
Asian Markets: Asian markets are lower today as Chinese and Hong Kong shares fall. The Shanghai Composite is off 1.42% while the Hang Seng is down 0.71%. 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 0.89% and the IPC rose 0.24%. The Bovespa lost 1.75%.
European Markets: European markets finished broadly higher today with shares in Germany leading the region. The DAX is up 1.74% while France’s CAC 40 is up 1.37% and London’s FTSE 100 is up 0.78%.

Major Headlines of the day:
1-Rupee opens at 70.26 per dollar.
2-PNB terminates sale of housing arm to Varde Holdings, General Atlantic In March 2019, the bank had inked two independent agreements for selling 1.08cr of its equity shares held in PNBHF each to General Atlantic Group and Varde Partners at Rs850 apiece aggregating to Rs925.80cr.
3-Yes Bank clawed back performance bonus paid to Rana Kapoor The lender said it has executed a service contract with bank current MD and CEO Ravneet Gill, which includes notice period of three months, subject to RBI approval.
4-Bajaj Finance gains 3% after Q4FY19 PAT beats estimates The lander consolidated NII has come at Rs3,395cr, which has improved by 50% yoy.

Earnings Reaction To Watch
ARVIND
BAJAJAUTO
BALKRISHNA IND
CESC
DR REDDY LABS
UPL

Trend in FII flows:- The FIIs were Net Value of Rs -953.23 segment while the DIIs were Net Value of 948 the provisional figures.

Securities in Ban For Trade Date 17-MAY-2019
JETAIRWAYS

Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.

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