Wednesday, March 8, 2017

Weak opening on D-Street ahead of exit polls

stock tips

Indian Indices:

Indian markets are likely to open lower on Thursday tracking weak global cues as well as volatility on the domestic front. SGX Nifty is trading 52.00 points lower.

Market may remain cautious ahead of the key exit polls data for assembly elections in five states that is set to release later on Thursday. Yesterday, the Indian equity benchmark indices ended lower weighed down by oil, metals, auto, infra and select private banks stocks, ahead of the exit polls data and results for assembly elections in five states and the US Federal Reserve policy meeting next week

Indian shares ended lower for a second consecutive session on Wednesday as caution prevailed ahead of state elections results, including that of the crucial state of Uttar Pradesh, and a U.S. Federal Reserve policy meeting next week. The S&P BSE Sensex and CNX Nifty fell 0.34%-0.25% each.

Sensex closed at 28901.91, down by 97.62 points or by 0.34%, and the NSE Nifty ended at 8924.30, dipped by 22.60 points or by 0.25%.

Global Market:

European shares rose on Wednesday, with results-driven gains from German sportswear company Adidas and British security company G4S partly offset by losses from EDF and Boskalis

Japan's Nikkei share average rose on Thursday, benefitting from a weaker yen after the dollar gained when U.S. jobs data cemented expectations the U.S. Federal Reserve is poised to raise interest rates next week.

The S&P 500 and the Dow Jones Industrial Average dipped on Wednesday as energy stocks suffered their worst drop in nearly six months. Also moving lower were interest rate-sensitive real estate stocks, off 1.5%, after US private sector adds 298000 jobs in February.

Major Headlines of the day:
Capital First Limited to consider fund raising on March 14
Glenmark gets USFDA nod to start phase-II clinical trials for respiratory drug
Maruti to launch four new models in 2017-18

Trend in FII flows: The FIIs were net buyers of Rs  3573.04   the cash segment on Wednesday   while the DIIs were net sellers of Rs -1735.12   as per the provisional figures.

Securities in Ban For Trade Date 09-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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