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Wednesday, October 5, 2016

Positive opening seen for Markets on firm Asia trend

stock tips

Indian Indices:

Key Indices are likely to witness a positive opening on Thursday tracking a bullish trend across markets in Asia and a strong finish at Wall Street overnight as a rally in crude oil prices bolstered energy stocks while upbeat US services data signaled strength in the world’s biggest economy, boosting risk taking app├ętit. SGX Nifty is trading 20.50 points higher.

Indian shares fell on Wednesday, heading for their first drop in four sessions, as investors booked profits in recent outperformers such as ICICI Bank Ltd and HDFC Bank Ltd after the central bank cut rates on Tuesday.r. The S&P BSE Sensex and CNX Nifty down by 0.40%-0.29%.

On Wednesday (October 05, 2016), SENSEX closed at 28334.55, fell by 113.57 points or by 0.40% and the NSE Nifty ended at 8743.95, slipped by 25.20 points or by 0.29%.

Global Market:

Asian shares firmed on Thursday, encouraged by stronger U.S. economic data and a rise in oil prices, while growing prospects of a U.S. rate hike hit gold and the boosted the dollar to one-month highs versus the yen.

US stocks closed higher Wednesday, trading off session highs as they rebounded from losses of the past two sessions, fueled by rising oil prices. A resurgent services sector also helped to lift demand for equities and other assets perceived as risky.

European shares fell on Wednesday on concerns that the European Central Bank might reduce the pace of bond-buying before its asset purchase programme ends, hitting utility and property stocks hardest.

Major Headlines of the day:
Adani buys R-Infra's transmission biz
ABG Shipyard promoters to lose controlling stake
Jindal Steel defaults on debenture interest payments

Trend in FII flows:The FIIs were net buyers of Rs 243 Cr in the cash segment on Wednesday while the DIIs were net sellers of Rs -349.86 Cr, as per the provisional figures.

STOCKS IN BAN PERIOD:IBREALEST, JINDALSTEEL.

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