Indian Indices:
Indian shares are likely to witness a bearish Tuesday morning deals as the global markets look subdued with SGX Nifty trading 30.50 points lower @9486.Indian equities are likely to open lower on Wednesday, tracking bearish cues from Nifty futures on the Singapore Stock Exchange and negative trading across Asian markets. Back home, bearish trend in the SGX Nifty Index Futures for June delivery, which were trading at 9,485.50, down by 0.31 points or 0.33 per cent, at 10:40 AM Singapore time, also signaled a weak opening for local bourses.
The market may see volatility this week ahead of June F&O expiry due tomorrow and GST rollout lined up for July 01.
On the economy front, the finance minister Arun Jaitley commented that some people may face short term pain from GST rollout, is likely to weigh on investor sentiment. On the corporate front, Jaipur-based AU Small Finance Bank will launch initial public offering today with price band fixed between Rs 355 and Rs 358. The company on Tuesday raised Rs 563 crore by allotting 1.57 crore shares to 34 anchor investors.
Weighed down by sharp losses in rate sensitive realty and bank stocks, the Indian equities ended lower for the second straight session on Tuesday, tracking mixed cues from Asian market.
On the sectoral front, banking stocks emerged as top losers after rating agency raised concerns over mounting loan-loss provisioning and said that banks will have to sacrifice nearly 60 per cent of the value of the loans extended to the 12 indebted companies recognized by the RBI.
The 30-share barometer SENSEX closed at 30958.25, down by 179.96 points or by 0.58 per cent, and then NSE Nifty ended at 9511.4, down by 63.55 points or by 0.66 per cent.
Global Market:
Asian shares slumped on Wednesday after Wall Street was knocked hard in the wake of a delay to a U.S. healthcare reform vote, while the euro rallied after European Central Bank President Mario Draghi hinted that the ECB could trim its stimulus this year.
In the overnight trade, Wall Street ended lower after the vote on a bill to replace Obamacare in the US was delayed by Senate Republicans, which dragged down healthcare and technology stocks.
U.S. Federal Reserve Chair Janet Yellen said on Tuesday that she does not believe that there will be another financial crisis for at least as long as she lives, thanks largely to reforms of the banking system since the 2007-09 crash.
Major Headlines of the day:
Sun Pharma to develop chikungunya, zika drugs.
RIL seeks shareholders' nod to cap non-promoter holding at 5%.
Apollo Hospitals launches air ambulance service network.
Trend in FII flows: The FIIs were net buyers of Rs 292.11 the cash segment on Tuesday while the DIIs were net sellers of Rs -148.54 as per the provisional figures.
Securities in Ban For Trade Date 28-JUN-2017:
1.DLF
2.FORTIS
3.GMRINFRA
4.IBREALEST
5.IFCI
6.INDIACEM
7.INFIBEAM
8.JPASSOCIAT
9.ORIENTBANK
10.RCOM
11.RELCAPITAL
12.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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