Indian shares are likely to witness a bearish trade in morning deals as the global markets look subduded with SGX Nifty trading 37 points lower @9636.50
Indian equities are likely to open lower on Wednesday, tracking bearish cues from Nifty futures on the Singapore Stock Exchange and negative trend from global markets.
Bearish trend in the SGX Nifty Index Futures for June delivery, which were trading at 9,645.00, down by 28.50 points or 0.30 per cent, at 10:54 AM Singapore time, also signaled a negative opening for local bourses. In absence of any major development on the global front, market may take cues from progress of monsoons and the country's preparedness for GST as government is all set to roll out GST with effective from mid night of June 30, 2017
The 30-share barometer SENSEX closed at 31297.53, down by 14.04 points or by 0.04 per cent, and the NSE Nifty ended at 9653.5, down by 4.05 points or by 0.04 per cent. Tata Group companies hogged the limelight with Tata Motors, Tata Steel, Nelco, Tata Power Company, Titan Company and Tata Sponge Iron rallied between 2 per cent to 20 per cent on slew of developments.
Asian markets retreated on Wednesday as crude oil slips on supply glut concerns, while investors also weighed inclusion of China A-shares in the MSCI Emerging Markets Index.
A renewed slump in oil prices to seven-month lows put Asian investors on edge on Wednesday, overshadowing a decision by U.S. index provider MSCI to add mainland Chinese stocks to one of its popular benchmarks.
In the overnight trade, Wall Street ended lower in volatile trade as energy linked stocks fell on renewed slump in oil prices.
Major Headlines of the day:
L&T bags 50Mw solar project from NHPC.
Ashok Leyland bets on fully built trucks to boost top line.
Piramal Enterprises to raise up to Rs 125 cr via non-convertible debentures.
Trend in FII flows: The FIIs were net buyers of Rs -312.84 the cash segment on Tuesday while the DIIs were net sellers of Rs 477.13 as per the provisional figures.
Securities in Ban For Trade Date 21-JUN-2017: