Markets likely to open flat on mix global cues

Indian Indices:

Indian markets likely to open lower in the early trade as global cues displayed mixed cues. SGX Nifty is trading 7.50 points lower.

The focus today will be on the August manufacturing PMI data which will offer further cues over the economy’s health.

Indian shares rose for a third straight session on Wednesday and hit their highest in more than a year after recent positive corporate results, including that of Whirlpool of India Ltd, raised optimism ahead of the release of economic growth data later in the day. The S&P BSE Sensex and CNX Nifty gained 0.39%-0.48% each.

On Wednesday (August 31, 2016), BSE SENSEX closed at 28452.17, up by 109.16 points or by 0.39%, and the NSE Nifty ended at 8786.20, gained by 41.85 points or by 0.48%.

Global Market:

Asian shares dipped on Thursday after lower crude oil prices dented Wall Street and a pair of Chinese manufacturing surveys did little to inspire investors as markets waited to see if U.S. employment data could put the Federal Reserve on track to hike interest rates.

The Dow Jones Industrial Average snapped a six-month winning streak on Wednesday as weak energy shares weighed on the broader market. A batch of economic reports that may potentially add more cause for the Federal Reserve to follow through with recent talk of lifting key interest rates also dampened sentiment.

European shares edged lower on Wednesday, weighed down by losses among miners and energy stocks, but banks extended recent gains amid talk of possible tie-ups in the battered sector.

Major Headlines of the day:

ZEE sells Ten Sports to Sony for $385 mn

DLF close to 40% stake sale in rental assets arm

Rcom evaluating options regarding 700 MHz spectrum

   

Trend in FII flows:The FIIs were net buyers of Rs 854.19 Cr in the cash segment on Wednesday while the DIIs were net buyers of Rs 847.7 Cr, as per the provisional figures.

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