Indian Indices:
Indian shares are likely to witness a bearish opening on Friday morning as the global markets look unsupportive with SGX Nifty trading 46 points lower @9865.Indian equities are likely to open lower on Friday, tracking weak cues from Nifty futures on the Singapore Stock Exchange and bearish trend across global markets following reports of a terrorist attack in Spain.
Back home, bearish trend in the SGX Nifty Index Futures for August delivery, which were trading at 9,863.50, down by 47.5 points or 0.48 per cent, at 10:50 AM Singapore time, also signaled a negative opening for local bourses. On the economy front, the government plans to revamp the country’s drug pricing regulator NPPA, which will have impact on phara stocks movement. Shares of HDFC Bank and Punjab National Bank will remain in focus after the duo announced cut in interest rate on savings bank accounts.
On Thursday, the Indian equity benchmarks ended marginally higher in choppy trade, undermining firm cues from Asian peers, as IT and Teck stocks offset losses in rate sensitive auto and bank stocks.
Adding to it, easing geo-political tensions between North Korea and the US also prompted traders to invest in most beaten stock. Among sectoral indices, IT and Teck stocks emerged as top gainers, rising as much as 1.84 per cent and 1.79 per cent, respectively.
The 30-share barometer SENSEX closed at 31795.46, up by 24.57 points or by 0.08 per cent, and the NSE Nifty ended at 9904.15, up by 6.85 points or by 0.07 per cent. Index heavyweight Infosys jumped 4.5 per cent after Sebi approved IT bellwether's share buyback proposal and also offered a solution for participation by holders of the company’s American Depository Receipts (ADRs) and Global Depository Receipts (GDRs).
Global Market:
Most of the Asian stocks were bleeding in red after Wall Street ended sharply lower in overnight trade as concerns over the Trump administration’s ability to push through its economic agenda spooked investors sentiment.
The dollar edged lower versus the yen on Friday, hampered by renewed investor concerns over the Trump administration's ability to push forward its economic policy agenda.
The United States plans to start negotiations with South Korea on Tuesday in Seoul on amending a five-year-old free trade agreement, U.S. Trade Representative Robert Lighthizer said on Thursday.
Major Headlines of the day:
Axis Bank offers 12 EMI-waiver on home loans of up to Rs 30 lakh.
Srei Equipment Finance to dilute 25% stake.
IIFL Asset Management picks up 2.59% in Reliance MF for $60 mn.
Trend in FII flows: The FIIs were net buyers of Rs -981.05 the cash segment on Thursday while the DIIs were net sellers of Rs 828.59 as per the provisional figures.
Securities in Ban For Trade Date 18-AUG-2017:
1.FORTIS
2.HDIL
3.IBREALEST
4.JPASSOCIAT
5.JSWENERGY
Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
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