Dalal Street's Top Stories at Midday.12.00 PM, 26th August 2019:(Nifty 10,903, Up 73 points):

Benchmark indices firmed up from day’s low to trade with modest gains. Finance Minister Nirmala Sitharaman's announcements to boost economy failed to revive market sentiment.

• The immediate downside risk continues to be at 10,637 mark.As of now, beginning of a healthy relief rally would only be confirmed after surpassing 11197 on a sustainable basis. Aggressive buying advised only if Nifty is able to move above 11,197 mark

• Asian stocks were trading lower following an escalation in the US-China trade war late last week.

• US stocks ended sharply lower Friday as the US-China trade war intensified further, after President Donald Trump said he's ordering American companies to start looking for an alternative to China, while readying additional measures after Beijing imposed retaliatory tariffs on imports of US goods.

• China announced new tariffs of 5% and 10% on $75 billion in U.S. imports, set to go into effect in two tranches, on Sept. 1 and Dec. 15, respectively.

• The Chinese government said that the move was in response to the Trump administration's plans to institute 10% tariffs on $300 billion in Chinese imports, also in two stages and on the same dates, announced earlier in August

• Federal Reserve Chairman Jerome Powell left the door open for another interest rate cut in September in a widely anticipated speech in Jackson Hole, Wyoming.

• Barring Metal , IT and Auto rest all the sectoral indices are in green, with maximum pain visible in Metal index .

• The market breadth, indicating the overall health of the market is Positive.

• NSE Advances: 27. NSE declines: 23.

• The NSE Mid-Cap index is Up 0.34 % at 4,219. The NSE Small-Cap index is Up 0.91% at 5,290.

• INDIA VIX index representing volatility is Up 18.16: (+4.71%)

• On the Positive side: IBULHSGFIN at 486.75 (+4.04%), HDFC at 2092 (+2.36%), and ADANI PORTS at 357.10 (+2.22%) are in green,

• On the flip side: TATASTEEL at 325.70 (-5.66%), JSWSTEEL at 209.85 (-4.89%) and VEDL at 132.05

Free Press Journal