Indian shares are likely to witness a flat to positive opening as the global markets look slightly supportive with SGX Nifty trading 13 points higher. Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 7.50 points at the opening bell.
On the economic front, the GDP growth is estimated to be 7.0% in Q3 December 2016, as per the second advance estimates of national income from Central Statistics Office (CSO) under Ministry of Statistics and Programme Implementation. The growth in GDP during 2016-2017 is estimated at 7.1% as compared to the growth rate of 7.9% in 2015-2016. Separately, the eight core infrastructure sector output, comprising nearly 38% of the weight of items included in the Index of Industrial Production (IIP), rose 3.4% in January 2017 over January 2016. Its cumulative growth was 4.8% in April-January 2016-2017.
Key benchmark indices dropped in a volatile session yesterday, 28 February 2017, as investors await an address that US President Donald Trump is scheduled to make to Congress in the global day today, 28 February 2017. The barometer index, the S&P BSE Sensex, fell 69.56 points or 0.24% to settle at 28,743.32. The Nifty 50 index fell 17.10 points or 0.19% to settle at 8,879.60. Both the Sensex and the Nifty settled at over one-week low. The key benchmarks declined for second consecutive session in a row.
Asian shares were mixed today, 1 March 2017. US stocks closed lower yesterday, 28 February 2017, as investors eagerly awaited a speech from President Donald Trump while parsing through key economic data.
Among economic news in the US, the second read on fourth-quarter US GDP remained unchanged, but consumer spending was revised sharply higher to a 3% rate from 2.5%. Other data released Tuesday, 28 February 2017, included consumer confidence for February, which hit its highest level since July 2001.
Meanwhile, low inventory and mortgage rates pushed home prices 5.8% higher in December 2016, up from November's 5.6% annual gain, according to the S&P/Case-Shiller US National Home Price Index.
Major Headlines of the day:
Aurobindo gets USFDA approval for Etomidate Injectable
M&M Ssangyong eyes 24% CAGR volume growth over CY16-19 on new launches
India's fiscal deficit in the first 10 months to January was 5.64 trillion rupees
Trend in FII flows: The FIIs were net buyers of Rs 1146.23 the cash segment on Tuesday while the DIIs were net sellers of Rs 268.34 as per the provisional figures.
Securities in Ban For Trade Date 01-MAR-2017: