Tuesday, March 7, 2017

Market may open slightly lower

stock tips

Indian Indices:

Tracking global cues as well as cautious stance ahead of key exit polls data, the Street may see tepid opening. Wockhardt will be on investors’ radar following the warning letter issued by US FDA for its US plant.

Indian indices may open lower today, tracking global cues, and as investors turning cautious ahead of exit polls data for the assembly polls later this week. SGX Nifty’s trends indicate a flat opening with a negative bias.

In India, the markets were in consolidation mode as investors sat on the fence ahead of exit polls. The Nifty is still within a striking distance of 9000. The 30-share BSE Sensex was down 48.63 points at 28999.56 and the 50-share NSE Nifty fell 16.55 points to 8946.90.

Supermarket retail chain D-Mart’s initial public offering (IPO) will open on Wednesday. The price band for the issue is in the range of Rs 295-299 and the company has raised Rs 561 crore from anchor investors.

Global Market:

Asian markets had a mixed start due to mounting geopolitical risks in the region and rising expectations of a tighter monetary policy by the US Federal Reserve at its meet next week.

In the US, Wall Street closed lower as investors mulled over the prospects of tighter monetary policy and the house republicans' legislation to repeal and replace Obamacare.

In Europe, markets closed lower as investors digested fresh economic data and eyed a probable interest rate hike in the US later this month.

Major Headlines of the day:
Cadila Healthcare   announces interim dividend of Rs 3.2/share (face vale Re 1)
Bharat Financial trading volumes surge on IndusInd deal buzz
Kotak Mahindra Bank Canadian pension fund CPDQ looks to buy stake in Kotak Mahindra Bank

Trend in FII flows: The FIIs were net buyers of Rs  920.46  the cash segment on Tuesday  while the DIIs were net sellers of Rs -1073.75  as per the provisional figures.

Securities in Ban For Trade Date 08-MAR-2017:  

Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
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