19th March, 2019 Morning Brief

Market will open on a flat note today ahead of weakness in Asian markets today.

Yesterday, U.S. equity benchmarks rose at the start of a week filled with potentially significant catalysts -- from central bank meetings, geopolitical developments and economic data.

Late recovery helped the market close higher for the sixth consecutive session yesterday, but the Nifty50 failed to hold  11,500 level due to some profit booking. Nifty formed Long-Legged Doji pattern on daily charts which shows uncertainty as the second day in a row is pointing towards creeping weakness in broader markets. Investors are awaiting for the outcome of the US Fed policy meeting due later in the week to get more cues about global market movement as well as US-China trade talks. Oil prices hovered just below 2019 highs early on Tuesday, supported by ongoing supply cuts led by producer club OPEC which can be a concern for upmove in the market.
Nifty has new support zone at 11270 - 11350 levels to achieve 11760 mark.

🎯 News & Impact 🎯

🎯 Hotel Leelaventure :
Company said it will sell four hotels in Bengaluru, Chennai, Delhi and Udaipur to a Brookfield-sponsored private real estate fund for Rs.3,950 crore.

🎯 HCL Tech :
Xerox will outsource certain global administrative and support functions from HCL. The transaction revenue over the course of seven years will be $1.3 billion.

🎯 Majesco :
Company acquired insurance software business from its parent company Majesco Ltd.

🎯 Voltas :
Company launched adjustable inverter air conditioner range which allows the use to switch from 1.5 ton to 1 ton capacity and vice versa, depending on the ambient heat or number of people.

🎯 Vakrangee :
The Reserve Bank of India renewed authorization issued to the Vakrangee for white label ATMs.

🎯 Mindtree :
V.G. Siddhartha (Promoter of Coffee Day Enterprises) have signed a definitive agreement to sell their entire stake in Mindtree to L&T.

🎯 RCom :
Reliance communications and Reliance Jio terminated their agreement for sale of specified assets by mutual consent.
Company made payment of Rs.458 crore to Ericsson as per Supreme Court orders.

🎯 Talwalkars :
Promoter entity sold 0.23% stake in market on March 15.

🎯 Dewan Housing Finance : 
PGGM World Equity BV acquired 25.17 lakh shares or 0.80 % equity at Rs.136.55 each.

🎯 Justdial :
Morgan Stanley France SAS acquired 4.07 lakh shares or 0.63 % equity at Rs.639.34 each.

🎯 Reliance Infrastructure : 
PGGM World Equity BV acquired 14.6 lakh shares or 0.57 % equity at Rs. 135.93 each.
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Edited by Sharp.