Positive opening on D-Street
Key Indices are set to open higher on Monday, tracking firm cues from fellow Asian peers, on sustained buying by foreign portfolio investors after US Fed Chair Janet Yellen dropped a strong hint of a rate hike this month. SGX Nifty is trading 9.50 points higher.
On the corporate front, Music Broadcast, the operator of FM channel Radio City, will start its Rs500 crore IPO today.
Indian shares ended little changed on Friday, but posted their first weekly fall in six, as investors booked profits after a rally that lifted the benchmark indexes to near two-year highs in the previous session. The S&P BSE Sensex and CNX Nifty fell 0.03%-0.02% each
Sensex closed at 28832.45, fell by 7.34 points or by 0.03%, and the NSE Nifty ended at 8897.55, dipped by 2.20 points or by 0.02%.
Globally, markets were trading weak or closed lower.
Japanese shares fell on Monday as the yen firmed and as global geopolitical tensions rose after North Korea fired four missiles, three of which landed in Japan's exclusive economic zone.
European shares posted their best weekly gains of 2017 of Friday, although they were down on the day following disappointing company updates.
US stocks eked out gains on Friday, extending a weekly advance, as comments from Janet Yellen and other key Federal Reserve officials confirmed growing expectations of a March interest-rate increase.
Major Headlines of the day:
JSW Steel is frontrunner to buy Italy’s Ilva plant.
Shree Cement wins coal linkage of 60,000 tn/year at Rs970/tn.
Grasim Shareholders approve increasing FPI limit to 49%
Trend in FII flows: The FIIs were net buyers of Rs 1529.48 the cash segment on Thursday while the DIIs were net sellers of Rs -737.00 as per the provisional figures.
Securities in Ban For Trade Date 06-MAR-2017: