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CAPITALSTARS- INDIAN EQUITY MARKET OUTLOOK FRIDAY UPDATE – 24 MAY 2019

capitalstars-Equity-market-Outlook

Market Live: Nifty likely to open higher.

The Nifty50 is likely to open higher on Friday despite muted trend seen in other Asian markets. Asian shares are trading near four-month lows on worries the U.S.-China trade spat was developing into a more entrenched strategic dispute. On Wall Street, the Dow Jones Industrial Average fell 1.1 percent, the S&P 500 lost 1.2 percent and the Nasdaq Composite dropped 1.6 percent, as traders dumped cyclical names on fears that the escalating U.S.-China trade war would stymie global economic growth, said a Reuters report. Trends on SGX Nifty indicate a positive opening for the broader index in India, a gain of 57 points or 0.49 percent. Nifty futures were trading around 11,736-level on the Singaporean Exchange. The Indian rupee fell against the US dollar on May 23. The rupee ended at 70.01 against the dollar, as compared to close of 69.66 in the previous close.

Global Market:
Asian Markets: Asian markets are higher today as Chinese and Hong Kong shares show gains. The Shanghai Composite is up 0.39% while the Hang Seng is up 0.32%. The Nikkei 225 is not trading.
US Markets: North and South American markets finished broadly lower today with shares in U.S. leading the region. The S&P 500 is down 1.19% while Brazil’s Bovespa is off 0.48% and Mexico’s IPC is lower by 0.30%.
European Markets: European markets finished sharply lower today with shares in France leading the region. The CAC 40 is down 1.81% while Germany’s DAX is off 1.78% and London’s FTSE 100 is lower by 1.41%.

Major Headlines of the day:
Rupee opens at 69.75 per dollar.
Cipla to acquire 26% stake in AMP Solar Power Systems Post-acquisition, AMP Solar will become an associate of Cipla Limited.
FY20 take-off of the Indian aviation industry hit hard: ICRA As per ICRA note, this is primarily attributable due to adverse impact on the industry capacity which has been hit hard due to grounding of aircraft of Jet Airways (India) Limited, starting February 2019 (due to liquidity constraints) and eventual discontinuation of its operations with effect from April 18, 2019.
Eicher Motors clarifies on reports of Flash Electronics suing company; stock down 4% Eicher Motor further clarified that the company has a strategy of developing and if required, sourcing components and parts from multiple vendors and as such the above event is not considered material by the company in terms of principles of materiality set out in SEBI regulation.

Earnings Reaction To Watch
ASHOK LEYLAND
BATA INDIA
GRASIM
IGL
JSWSTEEL
NCC
REC
WHIRLPOOL

Trend in FII flows:- The FIIs were Net Value of Rs 1352.2 segment while the DIIs were Net Value of -593.54 the provisional figures.

Securities in Ban For Trade Date 24-MAY-2019
ADANIPOWER
IDBI

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

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