4th June, 2019 Morning Brief

Market will open on a negative note today after closing at a historical high yesterday.

Asian stocks stabilised in early trading Tuesday after a technology rout sank Nasdaq shares overnight. The three major U.S. stock indexes declined on Monday on weaker-than-expected economic data, while shares of Alphabet, Facebook and Amazon.com fell sharply on fears the companies are the targets of U.S. government antitrust regulators, putting pressure on the tech-laden Nasdaq.

It was a fantastic day for the markets with Nifty closing above 12K and Sensex above 40K mark for the first time ever yesterday. Sentiments remained upbeat led by fall in crude oil prices, stronger rupee and hope of rate cut after weak Q4 GDP data and timely monsoon arrival announced by IMD.

The index closed above its psychological 12,000 level for the first time to form strong bullish candle on daily charts.

🎯 News & Impact 🎯

🎯 M&M :
Mahindra & Mahindra Benefit Trust sells M&M shares worth Rs12.44bn to Canada's CDPQ.

🎯 GE Power India :
Company received order worth Rs 738 crore.

🎯 TCS :
Company launched MasterCraft TransformPlus v4.0 with new cognitive features for analysis and modernization of enterprise applications.

🎯 Dr Reddy :
Company re-launched Zenatane (lsotretinoin capsules, USP), 10 mg, 20 mg, 30 mg and 40 mg in the US market.

🎯 CESC Ventures :
Company executed an agreement to acquire 64.63% in Herbolab India for Rs. 32.175 crore.

🎯 Auro Pharma : Generic drug distributor Aceto is accusing drug manufacturer Aurobindo Pharma of fraud and negligent. Yesterday aurobindo pharma' s unit 3 received 10 observations from USFDA.
Negative for the stock.
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Edited by Sharp.