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Tuesday, December 13, 2016

Flat to positive start seen as CPI hits record low

stock tips,

Indian Indices:

Indian equities are likely to open on a flat to higher note on Wednesday as decline in November retail inflation fuels hopes that the Reserve Bank of India will cut key rate soon.

The investors will also keep an eye on the US Federal Reserve policy meet to know Janet Yellen’s stand on the much-awaited and widely anticipated interest rate hike.

Bullish trend in the SGX Nifty Index Futures for December delivery, which were trading at 8,227.00, up by 11 points or 0.13 per cent, at 10:46 AM Singapore time, signaling a positive start for Sensex.

The 30-share benchmark index closed trade at 26697.82, up by 182.58 points or by 0.69 per cent and the NSE Nifty ended at 8221.8, up by 51 points or by 0.62 per cent.

Global Market:

Asian shares were narrowly mixed on Wednesday as the Fed gets set to hike interest rates with the market more focused on forward guidance from the U.S. central bank, known as the Fed "dot-plot."

U.S. stocks were higher after the close on Tuesday, as gains in the Technology, Oil & Gas and Utilities sectors led shares higher.

European shares rose on Tuesday, helped by a rally in Italy's biggest bank UniCredit on plans to bolster its balance sheet, while takeover speculation allowed Mediaset to make its best one-day gain ever.

Major Headlines of the day:
NTPC has partnered with Inox Wind for a 50MW wind project to be deployed in Gujarat.
Gujarat Ambuja Exports to buy back up to 17.12% of equity shares at Rs 95/share.
Asian Oilfield gets LoA for contract from Oil India worth Rs 63.7 crore.

Trend in FII flows: The FIIs were net buyers of Rs -2181.03 Cr in the cash segment on Tuesday  while the DIIs were net sellers of Rs 178.92 Cr, as per the provisional figures.

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