Market Opens :
It is flat opening for market as Nifty has opened at 11,151.65, up 3 points. Sensex has opened at 37,146.58.
About 316 shares have advanced, 713 shares have declined, and 35 shares are unchanged.
Sun Pharma, Vedanta, Reliance, IndusInd Bank, ITC, Adani Ports and Eicher Motors are among major gainers on the indices, while losers are Tata Steel, Infosys, ONGC, Asian Paints and L&T.
Among sectoral indices, FMCG, Pharma and PSU banks are trading higher.
Rupee Opens :
The Indian rupee marginally added in the early trade on Tuesday. It opened higher by 1 paise at 70.51 per dollar versus previous close 70.52 yesterday.
Global Markets :
SGX Nifty :
Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 50 points or 0.45 percent. Nifty futures were trading around 11,135 on the Singaporean Exchange.
Asian Markets :
Asian market trade lower :
Shares in Asia extended losses on Tuesday following sharp falls on Wall Street overnight, the yen strengthened and US Treasury yields ticked lower as the trade war between China and the United States escalated.
In early trade on Tuesday, MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.4%, touching its lowest level since Feb. 15.
Australian shares were down 1.2% while Japan's Nikkei stock index slid 1.9%.
US Markets :
Wall Street ends lower :
Wall Street sank on Monday after China defied Washington by announcing retaliatory tariffs, the latest salvo in the two countries' increasingly belligerent trade war, sending investors fleeing equities for less risky assets.
U.S. S&P 500 e-mini stock futures were flat near seven-week lows.
The U.S. Trade Representative's office also said it planned to hold a public hearing next month on the possibility of imposing duties of up to 25% on a further $300 billion worth of imports from China.
The tariff escalation has rattled global markets, even as U.S. President Donald Trump said he would meet with Chinese President Xi Jinping next month.
On Monday, the Dow Jones Industrial Average fell 2.38% to 25,324.99, the S&P 500 lost 2.41% to 2,811.87 and the Nasdaq Composite dropped 3.41% to 7,647.02.
Commodity Markets :
Worries over an escalating trade war also hit commodity markets, sending U.S. crude down 0.11% to $60.97 a barrel. Brent crude was off 0.3 percent at $70.01 per barrel.
Gold rose amid broader market jitters, with spot gold trading up 0.25% at $1,302.96 per ounce. Bitcoin gained 1.9% to $7,959.16.
Domestic Markets :
Results Today: Siemens, Nestle India, UCO Bank, Union Bank of India, Welspun Corp, Zee Media Corporation Edelweiss Financial Services, Endurance Technologies, Fiem Industries, HOEC, IIFL Holdings, Lumax Industries, Pidilite Industries, Polycab India, PTC India, Sequent Scientific, Speciality Restaurants, Tribhovandas Bhimji Zaveri, Westlife Development
A black Monday on D-Street! The index posted its longest losing streak for the first time in the last 8 years. The index closed in red for the 9th consecutive day in a row.
The index broke below its crucial 100-days exponential moving average (EMA) placed at 11,253 to form a bearish candle. The next support could now be placed at its 200-days EMA placed around 11,035.
In terms of sectors, the Nifty PSU Bank lost 5 percent, followed by Nifty Pharma which lost 4.3 percent, and the Nifty Media was down by 3.7 percent.
Three levels: 11035, 11125, 11300
Max Call OI: 12000, 11800
Max Put OI: 11000, 10500
On the macro front, India's retail inflation stood at 2.92 percent in April, higher than 2.86 percent in March. It was well within the target of the Reserve Bank of India (RBI).
The CPI data is in-line with the RBI’s expectation of 2.8% hence we can expect more 25 bps rate cut in the next monetary policy to infuse liquidity in the system which is the need of an hour, suggest experts.
Investors will watch out for WPI inflation data which will be out later on Tuesday.
The rupee on Monday fell sharply by 59 paise to close at nearly two-and-a-half-month-low of 70.51 against the US dollar.
On the provisional front, FPIs were net sellers in Indian markets for Rs 1056 crore while the DIIs were net buyers to the tune of Rs 1057 crore, provisional data showed.
Stocks in news:
After making losses for seven consecutive quarters, city-based United Bank of India (UBI) registered a net profit of Rs 95.18 crore in the last quarter of 2018-19, a bank statement said on May 13.
India's largest telecom operator Vodafone Idea Ltd May 13 posted consolidated loss of Rs 4,881.9 crore for the fourth quarter ended March 31, amid a brutal tariff war in India's mobile market.
Karnataka Bank May 13 posted close to a six-fold jump in net profit at Rs 61.73 crore during March quarter 2019. The bank clocked a profit of Rs 11 crore during January-March period of 2017-18.
CARE reaffirmed credit rating on the bank facilities of PNC Infratech subsidiary PNC Khajuraho Highways as CARE A
Godrej Industries Q4: Consolidated net profit at Rs 424 crore versus Rs 178.3 crore, revenue up 48.3 percent at Rs 2,917 crore versus Rs 2,004 crore, YoY.
Indian Acrylics Q4: Net profit up 81.8% at Rs 5 crore against Rs 2.6 crore, revenue up 47.5% at Rs 174.2 crore versus Rs 118.1 crore, YoY
Avadh Sugar recommended the issue of bonus shares in the ratio of 1:1
Shreyans Industries recommended final dividend of Rs 5 per equity share
CRISIL downgraded DHFL’s commercial paper rating to A4+ from A3+ due to more than expected reduction in company’s liquidity
Aarti Industries board may consider issue of bonus shares on May 21
United Bank of India board approved raising of Rs 1,500 crore via equity
Engineers India signed a contract with Mangol Refinery from providing its PMC Services for construction of Crude Oil Refinery plant in Mongolia
Analyst or Board Meet/Briefings
BEML board meeting on May 25 to consider and approve the financial results for the period ended March 31, 2019 and dividend
Lakshmi Vilas Bank board meeting on May 28 to consider and approve the financial results for the period ended March 31, 2019
Divis Lab board meeting on May 25 to consider and approve the financial results for the period ended March 31, 2019 and dividend
JSPL board meeting on May 21 to consider and approve the financial results for the period ended March 31, 2019
Lok Sabha election LIVE :
PM Modi to hold rallies in UP, Bihar and Chandigarh today, The final phase of polling will happen on May 19. It will be followed by the exit polls.
Update: BJP President Amit Shah will be holding a roadshow in North Kolkata today.
Congress President Rahul Gandhi to hold rallies in Madhya Pradesh's Neemuch, Khandwa and Tarana today.
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