Market will open on a positive note today after a roller coster movement yesterday.
Stocks drifted lower after the top U.S. trade negotiator dialled back expectations for a sweeping deal with China and investors fixated on a Congressional hearing about President Donald Trump’s political controversies.
Geopolitical tensions between India and Pakistan spooked Dalal Street yesterday as benchmark indices gave up early gains and fell over 200 points in afternoon trade on widespread selling. The Nifty50 erased 133 points from day's high to close marginally lower amid volatility ahead of expiry of February derivative contracts falls on today. Again 10900 will be the challenge to overcome before stretching to 11140 mark which can be considered as another resistance on the upper side above 11k mark.
Oil slipped on record US crude output which can be taken positively. India Q4 GDP data and India fiscal deficit data for January to be announced today.
🎯 News & Impact 🎯
🎯 Tata Metaliks :
Company to increase DI pipe capacity by 2 LTPA (lakh tonne per annum) and hot metal capacity by 0.7 LTPA.
🎯 Wipro :
Company signed an agreement to sell its ‘Workday and Cornerstone On Demand Business’ to alight for $110 million.
🎯 Varroc Engineering :
Company's Moroccan arm commenced commercial operations from Feb. 26. The plant has been set up to manufacture and supply automotive lighting parts.
🎯 Jet Airways :
Company said seven more aircraft had been grounded due to non-payment to lessors.
Impact negative.
🎯 SCI :
Company has given physical delivery of its 1 container vessel "M V Lal Bahadur Shashtri to its buyer.
🎯 HAL :
Company clarified that during the Aero India 2019 held in Bengaluru the company has signed a MoU with CPWD for execution of stage wise infrastructure development of its Helicopter Factory, near Tumakur.
Positive for the stock. 👍
Edited by Sharp.
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