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Sensex, Nifty likely to open flat

Yatheendradas C.k. at 09:01 AM - Jun 24, 2019 ( ) Views: 82

Share market LIVE: Sensex, Nifty likely to open flat tracking weak global markets; IndusInd Bank in focus
By: FE Online | Updated:Jun 24, 2019 8:54:55 am
Indian headline indices-Sensex and Nifty are likely to open flat tracking subdued global markets. The Sensex and Nifty ended lower on Friday amid US-China trade worries and geopolitical tensions in the Middle East.

Indian headline indices-Sensex and Nifty are likely to open flat tracking subdued global markets. The Sensex and Nifty ended lower on Friday amid US-China trade worries and geopolitical tensions in the Middle East. While the Sensex ended 407 points down at 39,194, the Nifty50 lost 108 points to settle at a level of 11,724. The crude oil prices soared on Monday amid escalating tensions between Iran and the US. The US Secretary of State Mike Pompeo said “significant” sanctions on Tehran would be announced in a bid to choke off resources being used to fund terror activities in the region. Pompeo os travelling to Saudi Arabia and the United Arab Emirates to hold talks on Iran. Brent futures were up 37 cents, or 0.6%, at $65.57 a barrel by 0044 GMT. West Texas Intermediate crude was up 43 cents, or 0.8%, at $57.86 a barrel.

IndusInd Bank and Glenmark Pharmaceutical will be in focus today. The Hindujas will pump Rs 2,700 crore into IndusInd Bank via a warrant issue to increase the promoter’s holding after the merger of Bharat Financial, PTI reported. The USFDA has issued a complete response letter or CRL with regard to the new drug application for Ryaltris. The letter cites deficiencies in the drug master file in relation to one of the active pharmaceutical ingredients and in manufacturing facilities. The CRL does not specify any deficiencies with the clinical data supporting the New Drug Application for Ryaltris, the company said in an exchange filing.


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