Nifty settles below 11500 mark amid worries over US-China trade talks
Closing Bell: Nifty settles below 11500 mark amid worries over US-China trade talks
The 50-stock Nifty crashed 100 points to 11,497 levels. Domestic equity index nifty shed nearly a percent on Tuesday too due to late selling tracking mixed global cues amid worries about US-China trade dispute. Among sectoral indices, only Nifty IT ended in green. The Nifty Media index was the top loser, down 2.74 per cent followed by banking, metal and realty sectors.
Nifty Top Gainers/Losers
Market Update: Nifty trade range-bound
The Nifty was trading 8 points higher at 11,607 on Tuesday. The benchmark index nifty opened higher in morning trade. Shares trimmed gains in mid-morning trade. Indices turned range bound in early afternoon trade. Good buying was observed in metal and capital goods sectors, while selling pressure was seen in media and realty sectors.
Morning Update: Nifty trade higher led by metal, banking stocks
The wider 50-scrip Nifty of the National Stock Exchange (NSE) traded 23 points higher at 11,621 points. The Indian benchmark index nifty were trading higher on Tuesday despite renewed US-China trade tensions led by gains in banking and metal stocks. Most of the sectoral gauges compiled by NSE advanced, led by the NSE Nifty Metal Index’s 1.32 percent gain.
The market breadth was tilted in favour of buyers. About 981 stocks advanced and 484 shares declined on National Stock Exchange.
FII & DII data
Foreign Institutional Investors (FIIs) sold shares worth Rs 89.76 crore while Domestic Institutional Investors (DIIs) bought Rs 89.89 crore worth of shares in the Indian equity market on 6 May.
Nifty Results To Watch
- ABB India
Earnings Reaction To Watch
- Total revenue grew to Rs 1637 crores in Q4 FY19, an increase from Rs 1503 crores in Q4 FY18.
- Net profit after tax to Rs 405 crores in Q4 FY19, a decrease from Rs 183 crores in Q4 FY18.
- Earnings per share to Rs 3.1 in Q4 FY19, a decrease from Rs 1.4 in Q4 FY18.
Top News Of The Day
Maruti Suzuki To Miss The Target
- Maruti Suzuki, India’s largest carmaker by volume, is set to miss its target of 2 million sales in 2019-20 as a prolonged market slowdown threatens to drag the offtake down to a six-year low and the company posting single-digit growth for the second year in a row.
Corporate Loan Grows Higher
- Corporate loan rate growth has overtook the retail loan growth for the first time in seven years as banks slowed lending to automobiles and personal consumption.
- Bank loan growth to large corporates touched a five-year high in FY19 clocking 8.2% to Rs 24 lakh crore.
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