Daily Market Feed – 22 May 2020

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  • KKR, a VC fund to invest Rs 11,367 crore in Reliance Jio for 2.32% stake
  • RBI Governor Shaktikanta Das to hold a press conference at 10 AM today. Expected to announce extension for loan moratoriums.
  • LIC has hiked their stake in Hero MotoCorp by 2 percentage
  • Bajaj Holdings Q4 results: Net profit declines 54% to Rs 361 crore
  • ITC surged 7.5% yesterday, based on restart of cigarette factories
  • Amazon Launches Food Delivery Service In India. Info Edge (India) Limited, with 22% ownership in Zomato may take a hit
  • Global cues are negative. American markets closed in red, so did the Asian markets. SGX NIFTY is slightly down. Indian market is likely to open lower
  • NIFTY expected to trade between 9000 and 9200 today. Interesting to see if any of these are broken. Monday is a trading holiday, on account of Eid-ul-Fitr
  • Public sector banks outperformed private banks yesterday. Auto and FMCG secotrs continue to do well

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