Nifty opens marginally higher by 7 points; Maruti top Nifty gainer;

Indian Indices:

BSE Sensex opened lower by 17 points at 30553, while the Nifty50 opened higher by 7 points at the 9445 mark. Equity benchmark indices began the session on a flat note, with the Sensex and Nifty trading with double digit gains.

Nifty50 has immediate support placed at the level of 9,400, and if the index sustains below the level of 9,400, weakness could drag the index lower up to levels of 9,370-9350. On the upside, if index holds above the levels of 9,500-9,510, it is likely to move toward the level of 9,540 and higher. Maruti is the top Nifty gainer and Sun Pharma is the top Nifty loser.

There were 756 advances, 649 declines and 493 unchanged stocks on NSE reflecting fairly positive bias floating in the market. Midcaps gained marginally higher, along with IT and auto indices on the Nifty, while pharma stocks took a hit on the back of negative news flow. Aurobindo Pharma and Sun Pharma fell over 4 percent.

Global Market:

Asian Markets are trading mixed on Tuesday. Japan’s Nikkei 225 has shed 21 points. Hong Kong’s Hang Seng has advanced 77 points and China’s Shanghai Composite has slipped 7 points.

US stocks rose on Monday, boosted by technology shares and by defence companies, which gained after the United States and Saudi Arabia signed a multi-billion dollar arms deal.

Wall Street ended higher for the third session led by tech and industrial stocks. The Dow Jones Industrial Average advanced 90 points to close at 20,895. The S&P 500 index added 12 points to end at 2,394. The Nasdaq Composite surged 50 points to close at 6,134.

Major Headlines of the day:

SRF setting-up of a facility to produce agrochemical at SRF's Chemical Complex in Dahej, Gujarat at an estimated cost of Rs. 180 Crores

Adani Enterprises-Company to delay decision on Australis mine

Clariant Chemicals-Swiss group Clariant (global parent) announced an all-stock deal to merge with the US-based Huntsman Corp

Trend in FII flows:The FIIs were net buyers of Rs -4137.51 the cash segment on Monday while the DIIs were net sellers of Rs 4458.78 as per the provisional figures.

UPCOMING RESULTS: BALAJI TELIFIM,CENTURY PLYBOARD, DCM SHRIRAM IND, ENT NETWORK, JUBILANT LIFE ,MUNOTH FIN, NCC ,PUDUMJEE IND, TATAMOTORS, TCI EXPRESS, TORRENT POWER, TRF, VOLTAS.

Securities in Ban For Trade Date 23-MAY-2017:  

1.BANKINDIA

2.BHARATFIN

3.CAPF

4.CEATLTD

5.CESC

6.HDIL

7.IBREALEST

8.IDBI

9.INFIBEAM

10.JINDALSTEL

11.JISLJALEQS

12.JPASSOCIAT

13.JSWENERGY

14.ORIENTBANK

15.TV18BRDCST

16.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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