Market will open with a gap down to follow Asian markets which are down more than a percent amid global growth concern.
India is the second-most underinsured country in the world with an insurance gap of $27 billion (approximately Rs 1.98 lakh crore). Traders will may react negatively to the crude oil import bill for India is expected to increase by $37 billion to $125 billion during the current financial year (2018-19, or FY19) - a 42% spike over the 2017-18 (FY18) bill of $88 billion.
Monday's price action is clearly favouring the bears as bulls were succumbed with two attempts by the bulls during the course of the day. Nifty dipped below it's crucial level of of 10210 but managed to close at 10245.25. Nifty has made a bearish engulfing look like pattern or bearish belt hold pattern yesterday. It will be interesting whether Nifty can recover opening losses or not in the rest of the day. Oil prices slipped below US$ 70 is a hope in the market.
🎯 News & Impact 🎯
Major Results Today :
Adani Ports, Bajaj Finserv, Bajaj Finance, HCL Tech, Ambuja.
Result Updates :
🎯 Asian Paints :
Revenue up 8.8 % at Rs.4639 crore.
Ebitda down 2.1 % at Rs.784 crore.
Margins contracted by 1.9%
🎯 CanFinHomes :
NII up 2 % at Rs.130.4 crore.
Net Profit up 7.5 % at Rs 76.8 crore.
Fee and Commission income fell 25.4 %.
🎯 ITD Cementation :
Company bagged multiple orders worth over Rs 1066 crore.
🎯 Lakshmi Machine Works :
Company said it will buy back 2.66 lakh shares at Rs 6,000 each at a discount of 2.2 percent to CMP.
🎯 Orient Press :
Company received order from the Maharashtra Pollution Control Board directing the company to stop all manufacturing activity at its Tarapur plant within 72 hours.
Negative for the stock.
🎯 HFCL :
Company received Rs.366.36 crore advance purchase order from BSNL.
🎯 Everest Organics :
Company has received closure orders of factory situated at Sadasivapet.
🎯 Bharti Airtel :
launches Google Assistant based digital customer care.
Edited by Sharp.
© 2018 Sharp Investment & Financial Advisers
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