Monday, November 28, 2016

Flat opening on Dalal Street on weak global cues

Stock Tips

Indian Indices:

The Indian markets are likely to open on subdued note, tracking a mostly bearish trend across markets in Asia ahead of key global events such as the meeting of OPEC member to discuss possible output cuts, US GDP data and Italy's referendum. SGX Nifty is trading 3.00 points higher.

Shares of Tata Power and NFL will be in focus today as the companies unveil their earnings data for the September 2016 quarter.

The movement of the rupee, which hit a record low, will also influence sentiment on Dalal Street

Indian shares edged up on Monday, as stronger Asian shares and gains in oil retailing firms offset falls in lenders after the central bank temporarily hiked the cash reserve ratio to absorb the surge in deposits from the country's demonetisation drive. The S&P BSE Sensex and CNX Nifty rose 0.13%-0.16% each

The 30-share benchmark index closed trade at 26350.17, up by 33.83 points or by 0.13%, and the NSE Nifty ended at 8126.9, up by 12.6 points or by 0.16%.

Global Market:

Japanese markets slipped on Tuesday in a mostly lower Asian trading session, despite the release of government data hinting at a stabilization in domestic demand.

U.S. stocks closed lower on Monday as investors found few reasons to keep pushing shares higher following an extended rally that took major indexes to a string of records and lifted major indexes for three straight weeks.

European shares fell on Monday, weighed down by a drop in banks which were led lower by Italian lenders which hit their lowest point since end-September on continued worries over a cash call at troubled lender Monte dei Paschi.

Major Headlines of the day:
Reliance Jio crosses 50 million subscriber mark in 83 days
Infosys looks to take payments bank solution global
Tata Steel UK selling Speciality business to Liberty

Trend in FII flows: The FIIs were net buyers of Rs -1436.40 Cr in the cash segment on Monday  while the DIIs were net sellers of Rs 1233.79 Cr, as per the provisional figures.

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