SGX Nifty is showing flat to positive opening for nifty. Next hurdle for nifty is 9000 to further breach it’s all time high. The support for nifty is placed around 8860.Global market are flat to negative. European market was leading the sell off and bleeded most yesterday. As clarity on visa norms can create an uptick for IT sector today as we have seen some delivery base buying in TCS yesterday the support for TCS is around 2850.
Stocks in news for today:
Tech Mahindra
Board approves acquisition of US-based CJS Solutions Group
-Enterprise value for CJS acquisition at USD 110 million
-USD 89.5 million to be paid upfront for 84.7 percent shares of CJS
-To acquire remaining 15.3 percent in CJS over 3 years
-CJS transaction is expected to close by April 2017
Coal India: Approves interim dividend of Rs 18.75 per share for financial year 2016-17
Bombay Burmah Trading Company: Finance Committee of the board of directors propose to acquire additional shares in The Bombay Dyeing & Manufacturing Company Ltd., directly or through its wholly owned overseas subsidiary.
Gold&Metals:
Gold is expected to trade negative today as overall market for commodity are turning to be negative.Gold has been trading near it’s 100 days moving average and due to reduction in China’s GDP target base metal as well as precious metals are also seeing a selling pressure along with this Yellen’s words are working as adding fuel to the fire for market to be negative.
Crude:
Crude is also expected to remain negative for the day as due to continuous rising in inventory and also the hedged funds are reducing there long position in crude oil.
Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
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