Indian Indices:
Equity benchmarks saw a higher opening, driven by a rally in the banking stocks and tracking the global cues. Banking stocks Axis Bank, ICICI Bank were among the top gainers on both the indices, while GAIL and ONGC were a drag.
After ending Monday on a lower note, the market opened on a positive note, driven by a rally in the banks.
The 30-share Sensex was up 109.42 points at 29346.57, while the Nifty was up 43.15 points at 9088.35. The market breadth was healthy as 746 shares advanced against a decline of 189 shares, while 39 shares were unchanged.
Banking stocks such as Axis Bank, ICICI Bank were among the top gainers on both the indices, while GAIL and ONGC were a drag. IndusInd Bank, HDFC, DCB Bank and Cimmco touched their 52-week highs. Dishman Pharma surged 20 percent and was locked in upper circuit on the back of a product approval by the US drug regulator.
The currency market was closed on account of Gudi Padwa holiday.
Global Market:
The US stock markets ended mixed on Monday as worries loom over the fate of President Donald Trump’s economic plan, including tax reform and infrastructure spending.
The Dow Jones Industrial Average fell 45.74 points, or 0.22 percent, to 20,550.98, the S&P 500 lost 2.39 points, or 0.10 percent, to 2,341.59 and the Nasdaq Composite added 11.64 points, or 0.2 percent, to 5,840.37.
Asia markets gained on Tuesday morning as investors shrugged off the disappointment from the current US administration's ability to push through legislation to repeal and replace the Obama-era health-care law.
Major Headlines of the day:
UCO Bank: The bank by the way of preferential allotment, has approved issue of shares to the Government of India against proposed capital infusion of Rs 1150 crore.
Shriram EPC: The company from United Republic of Tanzania, Tanzania has received order worth $107.8 million in JV with Larsen & Toubro.
IDFC Bank: The bank has sold nine stressed loan portfolios worth Rs 5000 crore to Edelweiss Asset Reconstruction Company (ARC), which will be the largest such transaction in the financial year.
Trend in FII flows: The FIIs were net buyers of Rs 577.88 the cash segment on Monday while the DIIs were net sellers of Rs -594.48 as per the provisional figures.
Securities in Ban For Trade Date 28-MAR-2017:
1. BHARATFIN
2. CEATLTD
3. IBREALEST
4. IFCI
5. JINDALSTEL
6. JPASSOCIAT
7. JSWENERGY
8. ORIENTBANK
9. TV18BRDCST
10.WOCKPHARMA
Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
CapitalStars Investment Adviser: SEBI Registration Number: INA000001647
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