Flat start likely ahead of F&O expiry; SGX Nifty trades slightly positive;

Indian Indices:

Indian shares are likely to witness a flat to positive opening as the global markets are slightly higher with SGX Nifty trading 13 points higher @9406. The broader markets witnessed hefty selling with MidCap and SmallCap indices falling between 1.5-1.9 per cent.

Indian equities are likely to open flat with positive bias on Wednesday, tracking firm cues from Nifty futures on the Singapore Stock Exchange and mixed trading across Asian markets. Back home, bullish trend in the SGX Nifty Index Futures for May delivery, which were trading 9,411.50, up by 18.50 points or 0.20 per cent, at 10:50 AM Singapore time, also signaled a flat to positive opening for local bourses.

The market may see customary volatility amid expiry of May futures and options contracts due today. The 30-share barometer SENSEX closed at 30365.25, down by 205.72 points or by 0.67 per cent, and the NSE Nifty ended at 9386.15, down by 52.1 points or by 0.55 per cent.

Global Market:

Asian shares mostly gained on Wednesday after Moody's downgraded China's credit rating, and as investors awaited minutes from the U.S. Federal Reserve and an upcoming OPEC meeting.

U.S. stocks closed higher for a fourth-straight day Tuesday, as the recent political turmoil weighing on equities eased in the wake of President Trump’s absence, as he continued his first trip abroad since taking office.

Nokia jumps on Apple settlement; UK mid-caps outperform - For more see the European equities Live Markets blog

Major Headlines of the day:

JK Paper-Plans Rs 650 crore for investment, To raise USD 5mn from IFC GAIL, NTPC

GAIL, NTPC-RGPPL demerger: GAIL to own LNG terminal, NTPC to get power plant

Mangalore Chemicals & Fertilizers-CARE has revised the Long Term Rating to BBB Stable from BBB-;Stable and Short Term Rating to BBB from BBB

Trend in FII flows:The FIIs were net buyers of Rs -400.53 the cash segment on Tuesday while the DIIs were net sellers of Rs 352.54 as per the provisional figures.

UPCOMING RESULTS: Adani Enterpris, Adani Ports, Amara Raja Batt, Bharat Forge, Escorts Finance, Lupin, Zee Media.

Securities in Ban For Trade Date 24-MAY-2017:  

1.BANKINDIA

2.BHARATFIN

3.CAPF

4.CEATLTD

5.IBREALEST

6.IDBI

7.INFIBEAM

8.JISLJALEQS

9.JPASSOCIAT

10.ORIENTBANK

11.RCOM

12.TV18BRDCST

13.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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