Wednesday, 20 July 2016

Today Live Indian Stock Market News ; Sensex, Nifty to open on a flat note

The Indian stock market may be a bit under pressure Wednesday on global cues and IMF outlook. For the first time in two years, International Monetary Fund (IMF) has cut India's growth forecast and also slashed growth outlook for almost every geography thanks to Brexit. Get Live Stock Market News Updates Visit Us www.marketmagnify.com/freetrial.php or Get Free Trials Just Give One Missed Call @78-79-88-11-22.

The IMF has cut India's growth projections to 7.4
percent for 2016 and 2017, a drop of 0.1 percent from its previous forecast, attributing it to a more sluggish investment recovery while declaring Brexit as a "spanner" in the global economic recovery. Yesterday, the 30-share BSE Sensex was up 40.96 points at 27787.62 after a swing of 189 points intraday while the 50-share NSE Nifty rose 19.85 points to 8528.55.

The indices are set to open on a flat note. Asian markets are trading mixed. Japan's Nikkei slipped 0.73%, Hong Kong's Hang Seng gained 0.73% and Shanghai Composite is trading in red. US markets closed mixed on weak quarterly results from Netflix Inc. S&P 500 at 2,163 points closed down 0.14%.
 
Among other stocks in focus:

Wipro: The company disappointed as consolidated Profit after tax (PAT) of the company stood at Rs. 2052 crore in Q1 FY17 as compared with Rs.2238 crore in Q4 FY16.

DLF: DLF Home Developers Limited entered into joint venture agreements with Ridgewood Holdings Limited for development of seven residential projects in the cities of Bangalore, Chennai, Kochi and Indore.

Coal India: The company has sought shareholders' approval for the buyback of 10.98 crore shares worth Rs.3,650 crore.
 
CRISIL Ltd: The company posted a net profit of Rs.698.10 mn for the quarter ended June 30, 2016 as compared to Rs.649.20 million for the quarter ended June 30, 2015.

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