Dalal Street may witness selling pressure; SGX Nifty down 35 pts.

Indian Indices:

Indian shares are likely to witness a cautious opening as the global markets are bearish with SGX Nifty trading 35 points lower @9352

Indian equities are likely to open in red on Friday, tracking weak cues from Nifty futures on the Singapore Stock Exchange and weak trading across Asian markets as fall in commodities raised concerns about the health of the global economy.

Back home, weak trend in the SGX Nifty Index Futures for May delivery, which were trading at 9,352.50, down by 34.50 points or 0.37 per cent, at 10:46 AM Singapore time, also signaled a negative opening for local bourses. Investors will react to earnings of Multi Commodity Exchange of India (MCX) after commodity bourse reported a 10.43 per cent jump in its consolidated net profit at Rs 126.58 crore for the fiscal ended March 31, compared to Rs 114.62 crore in the previous fiscal.

The 30-share barometer SENSEX closed at 30126.21, up by 231.41 points or by 0.77 per cent, and the NSE Nifty ended at 9359.9, up by 47.95 points or by 0.51 per cent. The market rally was fueled by the Cabinet approval to NPA package and new steel policy, which pushed Bankex index to record high.

Global Market:

Asian stocks declined for a third consecutive day on Friday as fresh falls in commodities raised concerns about the health of the global economy, though the euro bucked the broad weakness on receding concerns about France's presidential election.

Wall Street ended mixed as investors weighed newly-appointed US president Donald Trump's reform plans after the US House of Representatives passed Republican healthcare plan, replacing Obamacare, while cautioned prevailed ahead of Friday's government payrolls data.

The U.S. Senate on Thursday gave final legislative approval to a $1.2 trillion spending bill to keep the government open through September, a measure President Donald Trump is expected to sign before Friday's deadline.

Major Headlines of the day:

Tata Comm Q4 loss at Rs209 cr, gross revenue at Rs4,300 cr.

JP Associates fails to pay interest on NCDs after over 3 months of due date.

Jet Airways turns 24: Offers 24% discount on base fare.

Trend in FII flows: The FIIs were net buyers of Rs -601.12 the cash segment on Thursday while the DIIs were net sellers of Rs 926.10  as per the provisional figures.

UPCOMING RESULTS: APOLLOTYRE, DALMIA SUGAR, EICHERMOT, EQUITAS, GE SHIPPING, MONSANTO, NIITTECH, RAIN, SHOPPERSTOP, SPARC, UNIVERSAL CABLE, FSL,BLUEDART.

Securities in Ban For Trade Date 05-MAY-2017:  

1.ADANIENT

2.BHARATFIN

3.JSWENERGY

4.UJJIVAN

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