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Thursday, April 27, 2017

Global markets signal muted start on Dalal Street; SGX Nifty flat

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Indian Indices:

Indian shares are likely to witness a cautious opening as the global markets are subdued with SGX Nifty trading 1 point lower @9368

The Indian equities are likely to remain flat on Friday, tracking muted cues from Nifty futures on the Singapore Stock Exchange and mixed trading across Asian markets. Investors will keep an eye on earnings number of Ambuja Cement, CEAT, Federal Bank, IDFC, Raymond and Supreme Industries, which will be released today. Among others, DCB Bank, HDFC Bank will also remain in focus as the private sector lenders plan to raise fund. Investors will also react to earnings report of Biocon after the company’s net profit dipped 58 per cent to Rs 148.4 crore in the quarter ended on March 31, 2017, compared to Rs 354.4 crore in the year ago period. On Thursday, the Indian equities ended tad lower in choppy trade as investors resorted to profit booking after strong rally in the last three trading session, tracking weak cues from fellow Asian peers and negative opening of European markets.

The market also saw some volatility as traders rolled over positions in the futures & options (F&O) segment from the April series which expired yesterday.

Axis Bank fell over 2 per after the private sector lender reported a fall of 43.1 per cent in its net profit after tax at Rs 1,225.10 crore for the quarter ended March 31, 2017, on the back of higher provisions. The 30-share barometer SENSEX closed at 30029.74, down by 103.61 points or by 0.34 per cent, and the NSE Nifty was at 9342.15, down by 9.7 points or by 0.1 per cent.

Global Market:

Asian stocks inched higher on Friday and looked set to close a strong week on a positive note, while the euro slipped after the European Central Bank showed no signs of paring its stimulus program.

President Donald Trump downplayed the severity of a potential government shutdown on Thursday, just two days shy of a deadline for Congress to reach a spending deal to avert temporary layoffs of federal workers.

Oil prices rose on Friday but were still on track for a second straight weekly loss on concerns that an OPEC-led production cut has failed to significantly tighten an oversupplied market.

The dollar edged up in Asian trading on Friday but was on track for a losing month against a basket of currencies, while the euro shed some of its monthly gains after the European Central Bank maintained its easing bias.

U.S. President Donald Trump on Friday will order a review of offshore areas currently off limits to oil and gas drilling to determine which might be reopened, in his administration's latest move to expand domestic energy production.

Major Headlines of the day:
Biocon Q4 net up 75% at Rs135 cr
ONGC discovers more than 20 oil, gas sites in FY17
Hudco's Rs1,200 cr IPO to open May 8.

Trend in FII flows: The FIIs were net buyers of Rs -181.71 the cash segment on Thursday  while the DIIs were net sellers of Rs 233.31  as per the provisional figures.

UPCOMING RESULTS: IDFC, CEAT, UPL, AMBUJA CEM, FEDERAL BANK, KITEX, NAVIN FLUORINE, VARDHAMAN, CHOLAFIN, RAYMOND.

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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  2. Market sentiments were positive following global cues. The BSE Sensex was trading 87.37 points up at 31,858.26 around 10.10 am (IST). NSE Nifty index was trading 29.70 points up at 9,927.Equity tips


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