Bears dominate bulls on D-Street, Nifty tanks 28 points;

Indian Indices:

Tracking weak global cues on the back of a selloff, the market on Thursday opened on a negative note. The BSE Sensex opened down by 190 points at 30466, while the Nifty50 opened lower by 28 points at 9453 mark.

Nifty managed to recover from intra-day losses in the previous session and closed at an all-time high level with marginal gains. Hence, despite poor opening, we may see some short covering during the session today if Nifty recovers and continues trading above 9350 level. With this, the zone of 9550-9600 will act as the resistance level for the Nifty. In case of any turnaround, we hold 9470-9450 as the support levels for the Nifty.

There are 282 advances, 1138 declines and 481 unchanged stocks on NSE reflecting some bnegative bias floating in the market.The rupee opened at 64.34 per dollar lower by 18 paise.

Global Market:

Asian stocks fell on Thursday in line with global peers, and the dollar nursed deep losses against the yen as uncertainty mounted over US President Donald Trump's future following reports that he tried to interfere with a federal investigation.

US markets ended lower as S&P 500 and the Dow notched their biggest one-day fall since September 9 after reports suggested that US President Donald Trump tried to interfere with a federal investigation which set off alarm bells on Wall Street.

Asian markets also opened on a weaker note. Japan’s Nikkei 225 is down 1.8% at 19456, shedding 352 points. Hong Kong’s Hang Seng is marginally down with 0.36% loss and China’s Shanghai Composite too is down 0.26%.

Major Headlines of the day:

Capital First-Warburg Pincus sells 25 percent in Capital First, GIC Singapore ups stake to 14 percent'.

PVR realty firm Elan to invest Rs 550 crore and tie up with PVR.

Reliance Infrastructure’s subsidiary files Section 9 petition in the Delhi High Court for urgent payment of Arbitration Award

Trend in FII flows:The FIIs were net buyers of Rs -731.39 the cash segment on Tuesday while the DIIs were net sellers of Rs 614.51 as per the provisional figures.

UPCOMING RESULTS: ABNUVO, BAJAJ AUTO, BANKBARODA, CESC, CUMMINS, DBCORP, MUTHOOTFIN,  PIDILTEIND,  TATACOFFE,  VIP.

Securities in Ban For Trade Date 18-MAY-2017:    

1.CANBK

2.CAPF

3.HDIL

4.ICIL

5.IFCI

6.INFIBEAM

7.JINDALSTEL

8.JISLJALEQS

9.JSWENERGY

10.ORIENTBANK

11.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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