Wednesday, December 27, 2017

Nifty above 10,500 in opening, Midcap outperforms Sensex; metals shine

stock tips

Indian Indices:
Equity benchmarks rebounded with mild gains amid volatility on Thursday morning, ahead of expiry of December futures and options contracts. The 30-share BSE Sensex was up 51.96 points at 33,963.77 and the 50-share NSE Nifty gained 21 points at 10,511.80.Hindalco Industries, Vedanta, Aurobindo Pharma, BPCL, Lupin, HUL, Tata Steel, Coal India and Dr Reddy’s Labs were early gainers.
The domestic equity benchmark indices are likely to open on a positive note today tracking gains in Nifty futures on the Singapore Stock Exchange and positive trend across global Peers. The Nifty Midcap was up 0.24 percent.
Positive trend in the SGX Nifty Index Futures for December delivery, which were trading at 10,527, up by 33.50 points or 0.32,at 11:22 AM Singapore time, also signaled a higher opening for the domestic equity bourses. Volatility is expected to remain high in today session due to expiry of December futures and options (F&O) contracts today. Traders roll over positions in the futures & options (F&O) segment from the near month December 2017 series to January 2018 series.

On the economy  front
The government’s plans to borrow additional Rs 50,000 crore through bond and equities markets will put further pressure on the fiscal deficit and could lead to it breaching the government’s fiscal deficit target.

On the stock front
Shares of Country’s largest lender State Bank of India (SBI) will remain in focus as the bank on Wednesday said it has got board’s nod to raise Rs 8,000 crore to meet Basel III capital adequacy norms.
Moreover, automobiles stock will be in focus after the Lok Sabha approved a bill to hike cess on luxury vehicles from 15% to 25% in a move aimed at compensating the states for revenue .loss following the rollout of GST.

Wall Street ended on a flat note on Wednesday as gains in the technology sector were offset by losses in energy stocks. Trading volume remained light in a holiday shortened week ahead of New year. The Dow Jones Industrial Average rose 15.81 points to 24,762.02 and the Nasdaq Composite gained 0.64 point to 6,936.89.

The key Indian benchmarks closed lower after hitting fresh record highs intraday, dragged by banks, auto, FMCG stocks, and offsetting gains in pharma stocks.The key Indian benchmarks closed lower after hitting fresh record highs intraday, dragged by banks, auto, FMCG stocks, and offsetting gains in pharma stocks.
Global Market:

Major Asian markets are trading in the green at present with Shanghai Composite up 0.34%, Hang Seng is up 0.61% while Nikkei is trading 0.15% higher.
US Markets: Stocks witnessed a continuation of the sideways momentum in yesterday’s trade. The major averages closed in positive territory but off their best levels of the day. The Dow ticked up 0.1% to 24,774.30, the Nasdaq inched up 3.09 points or less than a tenth of a percent to 6,939.34 and the S&P 500 edged up 0.1% to 2,682.62
European markets closed in the flat to positive yesterday with FTSE up 0.37%, CAC up 0.08% and DAX ended 0.02% lower
Major Headlines of the day:

Realty major DLF’s shareholders approved an issue of debentures and warrants to promoters in lieu of Rs 11,250 crore equity infusion into the company to reduce company’s net debt significantly.
United Bank of India has raised Rs 100 crore by issuing Basel III compliant bonds on a private placement Basis.
Vedanta Ltd announced acquisition of a controlling stake in Japanese glass substrate manufacturer AvanStrate Inc from global private equity firm Carlyle Group.
Trend in FII flows: The FIIs were Net Value of Rs 172.32 the cash segment on Wednesday while the DIIs were Net Value of Rs -206.68  as per the provisional figures.

Securities in Ban For Trade Date 28-DEC-2017:













Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
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