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Wednesday, December 21, 2016

D-Street likely to open lower on weak global cues

Stock tips

Indian Indices:

Indian markets are poised to open lower on Thursday tracking weak cues from fellow Asian markets ahead of US GDP data due today and the European Central Bank's (ECB) economic bulletin. The market is likely to see thin trading as traders begin to quiet down ahead of the upcoming holidays

Indian shares erased early gains to close lower on Wednesday, posting their sixth straight session of declines, dragged down by major IT stocks such as Infosys and TCS. The S&P BSE Sensex and CNX Nifty fell 0.25%-0.26% each.

The 30-share benchmark index closed trade at 26242.38, fell by 65.60 points or by 0.25%, and the NSE Nifty ended at 8061.30, slipped by 21.10 points or by 0.26%.

Global Market:

Asian shares struggled on Thursday, taking their cues from a lackluster day on Wall Street as investors locked in gains in thin trade ahead of the upcoming holidays.

US stocks fell on Wednesday, with healthcare and real estate shares losing ground a day after the Nasdaq Composite and the Dow Jones Industrial Average hit record highs.

European shares closed lower on Wednesday as concerns increased regarding the stability of the Italian banking system.

Major Headlines of the day:
Texmaco, Kalindee Rail get Delhi HC nod for merger.
Titan takes 5-6% sales hit due to demonetisation.
eClerx Services buys back shares worth Rs 234 cr.

Trend in FII flows: The FIIs were net buyers of Rs -1,178.08 Cr in the cash segment on Tuesday   while the DIIs were net sellers of Rs 1,057.96 Cr, as per the provisional figures.

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