Indian Indices:
The market snapped its four-session rally Monday to end flat with a negative bias as it readied for the upcoming Union Budget on February 1. Apart from the Economic Survey, which will be tabled in Parliament today, quarterly results of ICICI Bank and Bajaj Auto will be keenly watched.
The market may see a weak opening as the Street readies for the Union Budget on Wednesday. Weakness in global markets, particularly the US indices after Trump's renewed stance on H1-B visas, may also weigh in on the Indian market. The downbeat mood was also reflected in the SGX Nifty which was trading flat with a negative bias.
Among Asian markets, stronger yen pushed down the Nikkei over a percent. The index was also weak ahead of Bank of Japan’s key monetary policy decision. The Hang Seng index was down around 0.06 percent, almost flat with a negative bias.
Global Market:
In the US, equities closed lower, notching their worst day of the year, as a new measure taken by the US President Donald Trump on immigration sent jitters through the market.
In Europe, markets too closed lower after Trump's introduction of a travel ban on refugees coming from seven Muslim-majority countries prompted investor concern. The FTSE 100 was down nearly one percent, while the DAX fell more than a percent.
Major Headlines of the day:
Union Bank board meeting on February 23 to consider issue of shares on preferential basis to Government of India
Shree Cement approved setting up of plant in Karnataka
Tata Power subsidiary issued non-convertible debentures worth Rs 1,200 crore
Trend in FII flows: The FIIs were net buyers of Rs 607.36 the cash segment on Monday while the DIIs were net sellers of Rs 40.04 as per the provisional figures.
UPCOMING RESULTS: BAJAJAUTO, CADILAHC, CENTURYTEX, DABUR, ICICIBANK, IDFC, IOC, JSWSTEEL, KSCL, ONGC, UCOBANK, OIL INDIA, SHOPPERSTOP, CAPITAL FIRST, SRTRANSFIN, TCI EXP
CapitalStars Investment Adviser: SEBI Registration Number: INA000001647
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