Indian benchmark indices are likely to flat with positive bias on Thursday, tracking muted cues from Nifty futures on the Singapore Stock Exchange and mixed trend across global peers. Markets across Asia were trading mostly lower after Wall Street ended mixed in overnight trade as investors awaited tax reform developments. SGX Nifty is trading at 10080 (Up 8points) indicating a flat opening.
Equities suffered for the second straight session on Wednesday after the Reserve Bank kept interest rates on hold but raised the inflation forecast, dashing medium-term rate cut hopes and sparking a sell-off in the banking stocks.
The Sensex slumped 205 points, or 0.63 per cent, to end at 32,597.18, while the broader NSE Nifty finished at 10,044.10, down 74.15 points, or 0.73 per cent.
The S&P 500 fell a tiny bit on Wednesday, with Microsoft and other technology stocks making modest gains but not quite offsetting losses in energy shares after oil prices dropped more than 2 percent.
Asian shares held close to a two-month low on Thursday as softer oil and copper as well as US policy uncertainty kept sentiment in check, while high-tech stocks struggled to recover after a searing sell-off.
Key data to watch out today are Jobless Claim & Bloomberg Consumer Confidence Index.
Major Headlines of the day:
Claris Life’s Board Finds Delisting Option Best For Shareholders, Co Fix Delisting Price Via Reverse Book Building Appoints IDFC Bank For Delisting Due Diligence Have Net Cash Equivalent Of Rs 381/Sh.
IRB Infra: CBI Files charge sheet against IRB and its Promoters along with certain concern persons for Pune land case deal.
Lupin promoters have bought in 8.5 lakh shares in the past 17 days.
Balrampur Chini Mills Ltd.: Sugar ended near one-month low at 14.45 cents a pound; down 3.02 %.
Tata Motors rolls out first lot of Tigor EVs from Sanand plant
Trend in FII flows: The FIIs were Net Value of Rs -1217.92 the cash segment on Wednesday while the DIIs were Net Value of Rs 995.11 as per the provisional figures.
Securities in Ban For Trade Date 07-DEC-2017: