Indian markets are likely to open on a positive note

Indian Indices:

Indian markets are likely to open on a positive note on Thursday tracking strength across markets in Asia and a bullish finish at Wall Street overnight amid hopes that the new US President Donald Trump may pursue business friendly policies, bolstering risk taking appetite. SGX Nifty is trading 52.00 points high.

Indian shares fell more than 1% on Wednesday, cutting losses of over 6% intraday, as investors saw a move to withdraw from circulation higher-denomination banknotes as positive for the economy and leading to easing inflation. The S&P BSE Sensex and CNX Nifty fell 1.23%-1.31%.

On Wednesday (November 09, 2016), 30-share benchmark index closed trading at 27252.53, down by 338.61 points or by 1.23%, and the NSE Nifty ended at 8432, down by 111.55 points or by 1.31%.

Global Market:

Asian shares rebounded on Thursday and the dollar firmed in a remarkable snapback from the shock of Republican Donald Trump's presidential victory, though the speed of the reversal left some market watchers scratching their heads.

European shares surged on Wednesday after the surprise victory of Donald Trump in the U.S. presidential election sparked a sharp reversal driven by gains among drug makers and financial stocks.

Wall Street roared to life Wednesday after a tumultuous day of trading in global financial markets amid hopes that president-elect Donald Trump would reinvigorate the American economy by combining massive tax cuts with new government spending.

Major Headlines of the day:

JK Tyre's net profit declines 10% to Rs 101.4 crore

L&T InfoTech Q2 net up 11.3%

Power Grid posts 32% increase in profit to Rs 1,872 crore in Q2 FY17a

     

Trend in FII flows:The FIIs were net buyers of Rs 5107.63 Cr in the cash segment on Wednesday  while the DIIs were net sellers of Rs 4753.76 Cr, as per the provisional figures.

UPCOMING RESULTS:

FORTIS, IGARASHI, BFUTILITIE, UBHOLDING, JAIN IRRIGATION, MINDAIND, PAGEIND, MANNAPURAM, THERMAX, PHILLIPCARBON, MOTHERSUMI, WOCKPHARMA. NAMGALAM, SUNPHARMA, ABIRLANUVO, BANKINDIA, LAOPALA, TATACHEM

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