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CAPITALSTARS- INDIAN EQUITY MARKET OUTLOOK UPDATE – 17 FEBRUARY 2020

capitalstars-Equity-market-Outlook

MORNING MAIL

Trends on SGX Nifty indicate a negative opening for the broader index in India, with a 9 points loss or 0.07 percent.

The market witnessed volatility and ended flat week amid domestic data including weak CPI and WPI numbers. Global markets also put pressure due to increasing fear over the novel coronavirus in China.
The Sensex was up 115.89 points (0.28 percent) to end at 41,257.74 in the past week, the Nifty was up 15.15 points (0.12 percent) to end at 12,113.5.

Global Market:

Asian Markets: – Asian shares stepped back from three-week highs on Monday as investors weighed the near-term hit on global growth from a fast-spreading coronavirus outbreak in China, although expectations of further policy stimulus helped stem losses. MSCI broadest index of Asia-Pacific shares outside Japan dipped 0.1% to 555.50, easing further from last week top of 558.30. Australian shares and South Korea KOSPI index were each down 0.3% and Japan Nikkei fell more than 1%.

US Markets: – Wall Street edged lower on Friday as uncertainties surrounding the coronavirus epidemic and downbeat economic data put a damper on investor sentiment. The Dow Jones Industrial Average fell 126.31 points, or 0.43%, to 29,297, the S&P 500 lost 5.97 points, or 0.18%, to 3,367.97 and the Nasdaq Composite dropped 14.85 points, or 0.15%, to 9,697.12.

Major Headlines of the day: –

Granules India: USFDA completes inspection at company Hyderabad unit with 2 observations

Dr Reddy’s Laboratories : USFDA determines Duvvada formulations manufacturing unit as voluntary action initiated (VAI)

Lupin : Lupin launches bacterial conjunctivitis drug Moxifloxacin Ophthalmic solution

SAIL Q3: Consolidated net loss at Rs 343.6 crore versus profit at Rs 638.8 crore, revenue up 4.4 percent at Rs 16,542.5 crore versus Rs 15,842.2 crore, YoY


 

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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