Markets open on positive note; Asian Paints top Nifty gainer

Indian Indices:

BSE Sensex opened higher by 22 points at 29358, while the Nifty50 opened higher by 5 points at the 9108 mark. Nifty50 going forward has immediate support in the region of 9,060-9,070, and if this support level is breached, it is likely to open up for correction up to the level of 9,000, which could act as a major support for the Nifty50. On the upside, immediate resistance is placed around the level of 9,165, and if it holds above the level of 9,165, it is likely to test the level of 9,220

Indian equity markets may start day’s trade on a flat note. The muted trend in the SGX Nifty, which was trading with a modest loss of 5 points at 9,130, signalled a flat to subdued opening for the domestic bourses.

There are 951 advances, 417 declines and 428 unchanged stocks on NSE reflecting strong positive bias floating in the market. The National Stock Exchange has introduced Future and Options contracts of 16 additional securities and it would be available for trading with effect from April 28.

Global Market:

Asian markets are trading with a positive bias on Thursday. The Japan’s Nikkei 225 is trading higher by 68 points. Hong Kong’s Hang Seng has surged 84 points and China’s Shanghai Composite has gained 5 points.

European shares recovered on Wednesday from their biggest one-day loss in five months, as a rebound in banking stocks and some positive first-quarter results outweighed weakness in oil and gas stocks.

Major Headlines of the day:

Aurobindo Pharma receives Form 483 with 6 observations.

Godrej Properties by selling office assets, to raise Rs 1,500  crore.

ITC aims to become leader in packaged-foods industry.

Trend in FII flows:The FIIs were net buyers of Rs  -673.38  the cash segment on Wednesday while the DIIs were net sellers of Rs 525.52 as per the provisional figures.

UPCOMING RESULTS: CRISIL, CYIENT, MINDTREE, HINDZINC, MASTEK.

Securities in Ban For Trade Date 20-APR-2017:  

1.BHARATFIN

2.HDIL

3.IBREALEST

4.INFIBEAM

5.IRB

6.JINDALSTEL

7.JPASSOCIAT

8.JSWENERGY

9.RELCAPITAL

10.UJJIVAN

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

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