Markets to take ques from macro data

Indian Indices:

Indian benchmark indices gained for the third day in a row, but in an indecisive manner. Post a tremendous volatile session, Nifty and Sensex managed to close moderately higher with 0.3% gains. Pharma and FMCG refrained markets from gaining grounds. However, IT recovered, after Infosys surged 3% plus ahead of Q3 results

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Indian benchmark indices gained for the third day in a row, but in an indecisive manner. Post a tremendous volatile session, Nifty and Sensex managed to close moderately higher with 0.3% gains

All in all market bias remained negative with just 1167 advances compared to 1599 declines on BSE.Nifty Bank Jan future is trading at a premium of 25.10 points as compared to a premium of 9.55 points in the last trading session.

Global Market:

US markets remained weak as uncertainty over economic policies prevailed post Trump’s speech. Moreover, investors awaited corporate earnings and economic data for clues on the economic condition.

European markets closed lower with moderate losses as a reaction to Trump’s press conference held late on Wednesday. Moreover, the minutes of ECB’s December 7-8 Governing Council Session put forth two options to continue asset purchases from April 2017, maintaining present speed of EUR 80 billion for half year, or to extend it to December end 2017

Asian markets remained a mixed bag where Japanese shares have gained after Yen weakened but other bourses traded weak after subdued closure on the Wall Street. Nikkei 225 is up 0.35%, Hang Seng too is up 0.32%, while China’s Shanghai Composite is down with 0.3% losses.

Major Headlines of the day:

OMCs and banks to absorb card transaction charges on purchase of petrol and diesel – negative for IOC, BPCL and HPCL

JLR has launched the petrol variant of the Range Rover Evoque SE in India at an Ex-showroom price of Rs53.2 lakh

Reliance Infra drops plans to sell stakes in airports

Trend in FII flows: The FIIs were net buyers of Rs-12.77 in the cash segment on Thursday   while the DIIs were net sellers of Rs  -110.08   as per the provisional figures.

RESULTS: INFY, GRUH FINANCE, MCX INDIA

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