The Nifty50 is likely to open flat on Thursday following muted trend seen in other Asian markets. The index closed 60 points higher at 11,450 on Wednesday.
Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 4.5 points or 0.04 percent. Nifty futures were trading around 10,473-level on the Singaporean Exchange.
The S&P 500 closed slightly lower on Wednesday as falling crude prices and trade jitters held markets in check. The Nasdaq posted its seventh consecutive daily advance, while the Dow was down marginally, said a Reuters report.
Asia traded mixed on Thursday morning after the US market was mostly little changed overnight following new Chinese tariffs on American goods, it said.
The ASX 200 was up 0.15 percent in early trade. Japan's Nikkei 225 dropped 0.54 percent and the Topix index was down 0.55 percent.
China is slapping additional import tariffs of 25 percent on USD 16 billion worth of US goods ranging from oil and steel products to autos and medical equipment, the commerce ministry said, as the world's two largest economies escalate their trade dispute.
On the earnings front, as many as 241 companies will be reporting their results for the quarter ended June later today which include names like AIA Engineering, Bajaj Electricals, Bhushan Steel, Bharat Forge, EIL, Jet Airways, Jindal Steel & Power, MRF, Venky’s India, Zee Learn, etc.
Stocks in news:
Ace investor Dolly Khanna Thursday bought over 1 lakh shares in Selan Exploration amounting to over Rs 2.5 crore, according to NSE data.
NMDC Q1: Net profit at Rs 975.2 crore against Rs 969.2 crore, revenue down 14.8% at Rs 2,422 crore versus Rs 2,841 crore,YoY
Shree Renuka Sugars Q1: Net loss at Rs 179 crore versus net loss at Rs 191 crore, net revenue down 39.9% at Rs 966 crore versus Rs 1607 crore, YoY
Punjab & Sind Bank Q1: Loss at Rs 398 crore versus profit of Rs 25.4 crore, NII up 25.6% at Rs 710.7 crore versus Rs 565.8 crore, YoY
Siemens Q3: Net Profit down 7% at Rs 204.4 crore versus Rs 219.7 crore, Revenue down 6.4% at Rs 3,073 crore versus Rs 3,283.4 crore, QoQ
Nalco Q1: Net Profit at Rs 687.1 crore versus Rs 128.9 crore, Revenue at Rs 2,973.3 crore versus Rs 1,802.7 crore, YoY
Siti Network Q1: Loss at Rs 57 crore versus loss of Rs 15.1 crore, Revenue down 4.1% at Rs 350.1 crore versus Rs 365 crore, YoY
Technical Recommendations:
We spoke to ICICI Direct.com and here’s what they have to recommend:
UltraTech Cement: Buy| CMP: Rs 4,241| Target: Rs 4690| Stop Loss: Rs 3965| Retuirn 11%| Timeframe 6 months
Yes Bank: Buy| CMP: Rs 382| Target: Rs 424| Stop Loss: Rs 356| Return 11%| Timeframe 1 month
Sanofi India: Buy| CMP: Rs 6150| Target: Rs 6,995| Stop Loss: Rs 5,690| Return 14%| Timeframe 6 month
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Source: moneycontrol.com