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CAPITALSTARS- INDIAN EQUITY MARKET OUTLOOK UPDATE – 09 October 2019

capitalstars-Equity-market-Outlook

MORNING MAIL

Market LiveNifty50 seen opening lower; Lupin, Bank of Baroda top sell ideas Trends on SGX Nifty indicate a negative opening for the broader index in India, with a 41 points loss compared to Monday close of 11,167.

The Nifty50 is expected to open lower on Wednesday following mixed trend seen in Asian markets as trade tensions escalate between the US and Chin. United States and China ever-expanding dispute over trade and foreign policy showed little sign of coming to an end, weighing on global economic growth, said a Reuters report. The U.S. State Department announced visa restrictions just a day after the U.S. Commerce Department cited the mistreatment of Uighur Muslims in China in its decision to add 20 Chinese public security bureaus and eight companies to a trade blacklist, it said.

Global Market:

Asian Markets: Asian markets are lower today as Japanese and Hong Kong shares fall. The Nikkei 225 is off 0.67% while the Hang Seng is down 0.46%. The Shanghai Composite 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 1.56% while Mexico’s IPC is off 0.97% and Brazil’s Bovespa is lower by 0.59%.

European Markets: European markets finished broadly lower today with shares in France leading the region. The CAC 40 is down 1.18% while Germany’s DAX is off 1.05% and London’s FTSE 100 is lower by 0.76%.

Major Headlines of the day:

Rupee stands at 71.16 per dollar

Aurobindo Pharma clarifies on USFDA observations The Company clarified that the United States Food and Drug Administration (USFDA) conducted a cGMP inspection at its Unit 7 manufacturing facility from September 19-27, 2019. The inspection ended with 7 observations..

Maruti Suzuki cuts production for 8th straight month The Company move comes in the wake of an unprecedented slowdown in the domestic automobile industry, forcing auto companies to take production cuts in order to reduce inventory at dealerships.

Minda Industries to acquire Germany-based Delvis Group The acquisition is part of Minda’s strategy to augment/acquire technological capabilities in existing product lines (Automotive Lighting).
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Trend In FII flows: – The FIIs were Net Value of Rs -498.21 segment while the DIIs were Net Value of 904.26 the provisional figures.

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

CapitalStars Investment Adviser: SEBI Registration Number: INA000001647.

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