Tata Steel, UPL, Ather Energy, Bajaj Electricals, Happiest Minds Technologies, CARE Ratings, Chalet Hotels, JM Financial, Jyothy Labs, Krishna Institute of Medical Sciences, Krsnaa Diagnostics, Prudent Corporate Advisory Services, PVR Inox, Raymond, SRF, Vijaya Diagnostic Centre, and Zaggle Prepaid Ocean Services will release their March quarter earnings on May 12.
#1 Asian markets rise after White House announces US-China trade deal
#2 GIFT Nifty rallies nearly 2% to above 24,500
#3 US, China allude to positive conclusion of high-stakes trade talks
#4 Details on US-China trade deal in a complete briefing today
#5 Trump to slash prescription drug prices by up to 80%
#6 Dow futures jump 400 points as traders await details on US-China trade deal
#7 Wall Street clocked its first weekly loss in three
#8 European markets ended higher with DAX at record high
#9 US 10-year yield holds steady as investors monitor global trade negotiations
#10 Oil posts weekly gain; Brent futures near $64
#11 Gold futures slip amid US-China trade talks
#12 Bitcoin holds above $1,00,000
After showing a range bound movement in the last couple of weeks, Nifty slipped into a sharp weakness on the back drop of rising escalation between India and Pakistan on Friday and closed the day lower by 265 points amidst high volatility. After opening with a negative note, the market later shifted into a range bound action in the mid to later part of the session with an attempt of upside recovery in between.
A small green candle was formed on the daily chart at the lows with long upper shadow. Technically, this market action indicates an attempt of downside breakout of the range movement.
Nifty on the weekly chart formed a bearish engulfing type candle pattern (not a classical one) this week after a sustainable upside in the last four weeks. This is negative indication and signals a formation of crucial reversal pattern on the downside as per long term chart.
The geo-political tensions between India and Pakistan is weighing heavy on the market. Further weakness from here could find strong cluster supports around 23800-23600 levels (weekly 10/20 period EMA and support as per change in polarity) and there is a possibility of an upside bounce occurring from the lows. Immediate resistance is placed at 24200.
After remaining net buyers in the previous sixteen sessions, the Foreign institutional investors (FIIs) turned net sellers on May 9 as they offloaded equities of Rs 3,798 crore. On the other hand, Domestic institutional investors (DIIs) bought equities of Rs 7,277 crore on same day….Read More
Trends on GIFT Nifty indicate a strong start for the broader index in India, with a gain of 463 points or 1.89 percent. The Nifty futures were trading around 24,553 level.
US stocks ended the week on a quiet note on Friday after oscillating between slight gains and declines, as investors gauged President Donald Trump’s comments on Chinese tariffs ahead of weekend trade talks between the two countries.
The Dow Jones Industrial Average fell 119.07 points, or 0.29%, to 41,249.38, the S&P 500 lost 4.03 points, or 0.07%, to 5,659.91 and the Nasdaq Composite gained 0.78 points, or flat, to 17,928.92.
The Indian indices extended the losses in the second consecutive session on May 9 amid pick-up in war activity between India and Pakistan, ignoring positive global cues.
The market opened gap-down with Nifty slipping below 24,000 mark and traded in negative territory throughout the session to close near day’s low. At close, the Sensex was down 880.34 points or 1.1 percent at 79,454.47, and the Nifty was down 265.80 points or 1.1 percent at 24,008.
For the week, BSE Sensex and Nifty fell more than 1 percent each.
BSE Midcap index ended flat, while smallcap index was down 0.3 percent.
ICICI Bank, Power Grid Corp, UltraTech Cement, Shriram Finance, Grasim Industries were among major losers on the Nifty, while gainers were Titan Company, Tata Motors, L&T, Bharat Electronics, Hero MotoCorp.
On the sectoral front, realty index shed 2.3 percent, private bank index was down 1.3 percent, while media, consumer durables, capital goods, PSU Bank indices rose between 0.9-1.6 percent.
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