Indian Indices:
Indian shares are likely to witness a bearish opening as the global cues look unsupportive with SGX Nifty trading 13.50 points lower. Indian equity benchmarks are likely to see a bearish start on Monday as the sharp sell-off in the past five trading sessions has created disappointment at existing levels.
Gains in the SGX Nifty Index Futures for November delivery which were trading at 8,093.5, up by 15.5 points or 0.19 per cent at 10:18 AM Singapore time, signal that the Sensex may open higher today. Volatility is expected to remain high this week at the domestic bourses as traders continue to assess the impact of demonetisation of higher value currency notes on Asia’s third biggest economy, while the expiry of the October futures & options (F&O) contracts also influences sentiment. News related to demonetization and Parliamentary proceedings will be keenly watched. Continued disruptions in the Parliament session and adverse impact on liquidity due to demonetization may weigh on sentiment at Dalal Street. Moreover, jitters over a looming US Federal Reserve interest rate hike could also impact foreign capital flows into Indian equities. Shares of Larsen & Toubro will be in focus this week as the company reveals its September quarter earnings.
Global Market:
Major Asian stocks rose today even as bets of a Fed rate hike in December rose while oil prices jumped as Russian President Vladimir Putin expressed hopes over a deal to freeze output.
New US President Donald Trump’s vow to step up fiscal stimulus has fuelled speculation of faster Fed monetary tightening as higher infrastructure spending spurs inflation.
Traders took comfort from the news that German Chancellor Angela Merkel is running for a fourth term. Shanghai Composite and Hang Seng advanced, while Nikkei 225 rose as a weaker yen bolstered the lure for exporter stocks. Wall Street ended lower on Friday as drug companies and consumer shares fell while a US leading index rose a modest 0.1 per cent in October.
Major Headlines of the day:
Alembic Pharma gets USFDA approval for Telmisartan and Amlodipine Tablets
Lupin receives USFDA nod for Losartan potassium
Cadila receives USFDA nod for Metrodinazole tablets
Trend in FII flows:The FIIs were net buyers of Rs -926.32 Cr in the cash segment on FRIDAY while the DIIs were net sellers of Rs 1143.44 Cr, as per the provisional figures.
UPCOMING RESULTS: INDIACEM, SIMPLEX, FINATECH, SOBHA, SUYAJYOTI.
Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
CapitalStars Investment Adviser: SEBI Registration Number: INA000001647
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