Reliance was in limelight yet again today after securing a $750 million investment from Abu Dhabi Investment Authority (ADIA) in Reliance Retail. Nifty and Bank Nifty was up by 0.66% and 0.49% respectively in today's trading despite the news that Trump abruptly called off talks with House Democrats on a fresh stimulus package and promised a fresh stimulus package after the November elections. After this news, the US markets crashed overnight with Dow Jones, S&P 500, and Nasdaq all plunging by 1.34%, 1.4%, and 1.89% respectively.
Nifty has continued its up-run this week after it closed up 1.38% yesterday with the impetus coming from the upside in Tata Motors and HDFC stock. Tata Consultancy Services Ltd. stock was also up 1.4% today ahead of its quarterly results. Infosys will also announce its quarterly results next week.
Nifty could push towards positive territory again tomorrow as Dow Futures and Nifty Futures are pointing with a gain of 0.88% and 0.68% respectively. Crude oil, however, lost more than 2% and fell below $40 after Trump's comments.
Thanks & Regards,
Aarbind Tiwari
Freelancer Research Analyst
Bangalore
Mobile No. 09980555517
Telegram 09980555517
Whats App 09900017008
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