A gap down opening expected as SGX Nifty is trading down by 75 points.
Market was trading almost flat till the mid day but Italy political issue made the investors nervous and the sell-off began in the last couple of hours. Nifty dropped to make a low of 10616 and closed at 10633 which made a bearish engulfing candle on the daily chart.
U.S. stocks tumbled the most in more than a month, joining a global equity selloff sparked by concern Italy’s political woes. Asian markets are also following the down trend.
Italy is the high debt oriented country among the euro zone. It will have a widely negative impact in the global market if rating agency cut its bond rating which may impact the global currency. Euro vs Dollar fell to nearly 1 year low after the news of uncertainty in Italy and as Italy President resigned.
🎯 News & Impact 🎯
Major Results Today :
ONGC, Canbank, SAIL
Results updates :
🎯 BPCL :
Revenue up 8 % at Rs.65,239 crore.
Net profit up 25 % at Rs.2,674 crore.
🎯 Torrent Power :
Revenue up 15.5 % at Rs.2810 crore.
Net profit up 60 % at Rs.217 crore.
🎯 Powergrid :
Revenue up 16.5 % at Rs.7811.3 crore.
Net profit up 4.6 % at Rs.2004.7 crore.
🎯 Glenmark :
Revenue down 7 % at Rs. 2,280 crore.
Net profit down 17 % at Rs.152 crore.
🎯 BEL :
Revenue down 9.5 % at Rs.3,608.5 crore.
Net profit down 29.4 % at Rs.558.7 crore.
🎯 Thomas Cook :
Revenue up 20.2 % at Rs.2662 crore.
Net profit at Rs. 5860.7 crore versus net loss at Rs.13.1 crore.
🎯 Bank of Baroda :
Looks to sell NPAs worth Rs.2,954.28 crore and has invited expression of interest by June 15.
🎯 Indigo :
IndiGo announces fuel surcharges to counter the recent upward surge in oil prices.
Edited by Sharp.
© 2018 Sharp Investment & Financial Advisers
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