Nifty likely to open lower
The Nifty50 is expected to open lower on Tuesday following Asian markets which were trading lower amid rising fears of rising trade-war as well as currency woes. U.S. Treasury Secretary Steven Mnuchin said on Monday the government had determined that China is manipulating its currency and that Washington would engage the International Monetary Fund to eliminate unfair competition from Beijing, said a Reuters report. Wall Street major indexes already posted their biggest percentage drop of the year on Monday on fears of an escalation in the U.S.-China trade war, the report added. Trends on SGX Nifty indicate a negative opening for the broader index in India, a with 0.66 percent loss or 72 points. Nifty futures were trading around 10,797-level on the Singaporean Exchange.
Global Market:
Asian Markets: Asian markets are lower today as Japanese and Hong Kong shares fall. The Nikkei 225 is off 2.03% while the Hang Seng is down 1.91%. The Shanghai Composite is not trading.
European Markets: European markets Finished Sharply Lower today with shares in London leading the region. The FTSE 100 is down 2.47% while France's CAC 40 is off 2.19% and Germany's DAX is lower by 1.80%.
Major Headlines of the day:
Rupee stands at 70.80 per dollar.
Spandana Sphoorty IPO subscribed 6% on day 1 The price band for the issue has been fixed at Rs853-856 per share.
Sterling & Wilson Solar raises Rs1,406cr from anchor investors; IPO opens today The company has raised about Rs1,406cr by selling shares to its institutional investors as part of its anchor book allocation on Monday.
Berger Paints reports 31.76% yoy rise in cons. PAT at Rs176cr for Q1FY20 In a separate filing, the company informed that it is "considering investment opportunities in Russia to complement its exisiting operations."
Trend in FII flows:- The FIIs were Net Value of Rs 1871.27 segment while the DIIs were Net Value of -2016.73 the provisional figures.
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