10.05.2019 - EQUITY MARKET POST DATA|8 வது நாள் தொடர்ந்து இறக்கம் கண்ட NIFTY 5 LAC CRORE நஷ்டம்|TTZ TATA STEEL 6 % DOWN காரணம் என்ன?
SBI Q4 RESULTS ?
About 1187 shares have advanced, 1270 shares declined, and 162 shares are unchanged
In terms of market capitalisation, investors lost nearly Rs 5 lakh crore during this week. The average market-capitalisation of BSE-listed companies fell from Rs 151.62 lakh crore on May 3 to Rs 146.51 lakh crore on May 10.
Trade tensions between the two nations i.e. US and China fuelled volatility in global markets and the rub-off effect was seen on Indian market as well.
The recent correction got aggravated post Q4 numbers from India Inc. In the last 10 days, we saw more earnings downgrades than upgrades. Almost 21 Nifty companies which have declared their numbers which constitute about 60% of profits suggest that FY19 EPS will be modest around 6% compared to expectations of 10%,”
State Bank of India (SBI) reported a net profit of Rs 838.4 crore for the quarter ended March 31, 2019, on the back of higher provisions. The bank had reported a loss of Rs 7,718 crore in a year ago period. The stock rose nearly 3%.
The share price of steel major Tata Steel was down 6 percent after sources told Reuters that Thyssenkrupp is expecting the joint venture with Tata Steel to fail.
The share price of Delta Corp ended nearly 7 percent lower after news report emerged that DG GST Intelligence has booked two Goa companies, including Delta Corp, for Rs 6,189 crore evasion.
Most brokerage firms maintained their rating on Asian Paints post its March quarter results but slashed target prices as margins took a hit. The stock fell by over 1% on the BSE.
Indian market bounced back from its 100-days exponential moving average (EMA) for the second consecutive day in a row on Friday but failed to reverse losses and closed with a bearish candle on the daily charts for the 8th consecutive day in a row.
In the near term, sustaining above 11,250 levels looks key for bulls to prevent further damage. On sustaining above 11,250 levels, Nifty can bounce up to 11,400 kind of levels and in such scenario, a range-bound market between 11,450 – 11,250 can be witnessed,
that if the level of 11,229 gets breached on a closing basis, the index will head towards its 200-day moving average whose value is placed around 11,020 kind of levels.
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