Title: What changed your markets while you were sleeping
NEW DELHI: The domestic market is likely open on a tepid note on deteriorating global outlook and waning hopes of a solution to the US-China trade tussle. Tata Motors’ record Q3 losses, too, can play a spoiler.
Let's check out what all may move market all through the day:
Singapore trading sets stage for a negative start
Nifty futures on the Singapore Exchange were trading 44.50 points, or 0.40 per cent, lower at 11,050.50, indicating a negative start for the Nifty50.
Nifty forms Doji candle
The Nifty50 index on Thursday settled nearly at its opening level, forming an indecisive Doji candle on the daily chart. A formation of this pattern after a reasonable up move could be a sign of impending trend reversal. However, this downward reversal pattern needs to be confirmed with weakness in the subsequent session, said Nagaraj Shetti, HDFC Securities.
Asian stocks slipped on Friday as investors fretted about a broadening global economic slowdown, with sentiment not helped by the absence of any positive signs for a resolution in the US-China trade row, Reuters reported. Japan’s Nikkei fell 1.2 per cent.
Oil prices extend fall
Oil markets dipped on Friday, dragged down by concerns over a global economic slowdown although supply cuts led by producer club OPEC and US sanctions against Venezuela provided crude with some support, Reuters reported. International Brent crude oil futures were down by 12 cents, or 0.2 per cent, at $61.51 per barrel after falling 1.7 per cent the previous session.
No talks with Xi before deadline: Trump
US President Donald Trump said on Thursday he did not plan to meet with Chinese President Xi Jinping before a March 1 deadline set by the two countries to achieve a trade deal, Reuters reported Asked during an event in the Oval Office whether there would be a meeting before the deadline, Trump said: “No.”
Tata Steel, BPCL to report Q3 results
Tata Steel, BPCL, REC, GIC, Jaiprakash Associates, Sun TV, NHPC, Gujarat State Petronet, Gujarat Gas, Engineers India, Dilip Buildcon, VIP Industries, UCP Bank, Avanti Feeds, Balkrishna Industries, Dr Lal Pathlabs, Garden Reach Shipbuilders, Thermax, are among companies set to announce their December quarter results on Friday.
Tata MotorsNSE -17.58 % reports highest ever quarterly loss
Tata Motors, India’s largest automaker by revenue, posted its highest quarterly loss of .Rs 26,961 crore due to a one-time impairment charge of £3.1 billion (.Rs 27,838 crore) on account of its dominant UK-based Jaguar Land Rover (JLR) unit, which has been hit by a sales slump in China and faces headwinds such as Brexit.
SAIL Q3 net zooms 14-fold
Steel Authority of India’s (SAIL) net profit of Rs 616 crore in Q3 FY19 zoomed up 14-fold from Rs 43 crore in the corresponding period last year beating street estimates, the company said. Net profit improved more than 11 per cent over Q2FY19 to Rs 554 crore.
FIIs buy Rs 418 crore worth of equities
Foreign portfolio investors (FPIs) bought Rs 418.01 crore worth of domestic stocks on Thursday, data available with NSE suggested. DIIs were net buyers to the tune of Rs 294.11 crore, data suggested.