Indian Indices:
Indian equities are set to open lower on Monday, tracking mixed cues from fellow Asian peers, as investors remained wary over Donald Trump’s protectionist policies which would hurt Indian exports industry, especially IT and Pharma, which have a significant contribution to Indian economy. SGX Nifty is trading 12.50 points lower.
The volatility will remain high in the holiday shortened week with the January expiry happening a day ahead of Republic Day holiday.
Investors would also react to earnings reports of index heavyweights such as, Hindustan Unilever, Idea Cellular and Bharti Infratel, which will test the nerves of the traders with their financial results for the quarter ended December 31, 2016.
Indian shares fell by 1% on Friday to post their first weekly fall in four as Axis Bank slumped after it posted disappointing results, dragging down other. lenders. The S&P BSE Sensex and CNX Nifty dipped 1%-1.02% each.
Global Market:
Japan's Nikkei share average dropped more than 1% on Monday as shares of exporters fell on a stronger yen, while sentiment was subdued on concerns over newly sworn-in US President Donald Trump's protectionist trade view.
US market closed modestly higher Friday, came against the backdrop of the inauguration of Donald Trump as U.S. president. Investors also had their eye on the latest batch of corporate earnings. No key data to watch in US today.
European markets closed flat as investors cautiously awaited the inauguration of soon-to-be U.S. President Donald Trump.
Major Headlines of the day:
Bilt Paper parent in talks to raise about Rs400 crore.
BSE IPO issue opens today. Price band 805 to 806.
Deep Industries Ltd receives LOA from Cairn India for contract worth Rs36.72 crores
Trend in FII flows: The FIIs were net buyers of Rs -26.34 the cash segment on Tuesday while the DIIs were net sellers of Rs -175.48 as per the provisional figures.
UPCOMING RESULTS: MCDOWELL, ULTRATECH, PERSISTENT, NAVINFLUORINE, L&T TECH, UNICHEM LAB, HUL, TATACOMM, INFRATEL, CHENNAI PETRO, QUESS CORP, ASIAN
CapitalStars Investment Adviser: SEBI Registration Number: INA000001647
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