Bullish start seen on global support

Indian Indices:

Indian shares are likely to witness a positive opening as the global markets look slightly supportive with SGX Nifty trading 70.50 points higher. The Indian benchmarks are set to open higher on Thursday after the US Federal Reserve decided to stay on course and increase interest rates for the second time in three months.

Positive trend in the SGX Nifty Index Futures for March delivery, which were trading at 9179, up by 69.50 points or 0.76 per cent, at 10:54 AM Singapore time, signaled a positive opening for the domestic bourses. On Wednesday, the Indian benchmark indices ended the day in red as investors’ awaited Federal Reserve rate decision. Caution also prevailed ahead of GST Council meet on Thursday.

The 30-share barometer index of Bombay Stock Exchange, Sensex closed at 29398.11, down by 44.52 points or by 0.15 per cent, and the NSE Nifty ended at 9084.8, down by 2.2 points or by 0.02 per cent.

Global Market:

Asian markets have opened mostly higher following Wall Street's higher close after the Federal Reserve raised rates but kept a dovish stance, while Wall Street closed higher after the US Federal Reserve on expected lines decided to increase rates by 25 bps for the second time in three months.

U.S. stocks rose sharply on Wednesday after the Federal Reserve raised interest rates for the second time in three months, as expected, a move spurred by steady economic growth, strong job gains and confidence that inflation is rising to the central bank's target.

European shares achieved their highest closing level in two weeks on Wednesday, boosted by basic resource and oil stocks, while French aeroplane seat-maker Zodiac slumped after its latest profit warning

Major Headlines of the day:

HCL Tech board to consider share buyback on March 20.

Cipla gets tentative approval from USFDA for Darunavir Ethanolate oral tablet.

Maruti Suzuki “Ignis” receives strong response with waiting period of 3 month

Trend in FII flows: The FIIs were net buyers of Rs  1141.13   the cash segment on Wednesday while the DIIs were net sellers of Rs -126.75   as per the provisional figures.

Securities in Ban For Trade Date 16-MAR-2017:  

1 BHARATFIN

2 RCOM

3 JETAIRWAYS

4 JINDALSTEL

5 JPASSOCIAT

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