Sensex opens above 34,000, Nifty trades flat; Reliance Comm surges 20%

Sensex opens above 34,000, Nifty trades flat; Reliance Comm surges 20%;

Indian Indices:

The domestic equity benchmark indices are likely to witness a negative opening today tracking weak SGX Nifty Index Futures and mixed Asian peers.Weak trends in the SGX Nifty Index Futures for December delivery, which were trading at 10,517, down by 10 points or 0.10%, at 11:20 AM Singapore time, signalled a flat to negative opening for the domestic equity bourses. 

Dalal Street investors would react to reports stating revenue collection from Goods and Services Tax (GST) for the month of November fell further to Rs 80,808 crore. 

The collection was lowest since the implementation of the indirect tax system from July 1. Further, markets regulator Sebi is mulling easing access norms for investment by foreign portfolio investors (FPIs) and bringing a new framework to strengthen the governance structure for mutual funds.

On the stock front

Shares of 63 Moons Technologies, formerly known as Financial Technologies will remain in focus as the Capital markets regulator Securities and Exchange Board of India (Sebi) on Tuesday penalised the company after it failed to seek prior approval for the name change from stock exchanges.

WALL STREET UPDATE

• Wall Street ended lower on Tuesday dragged down by decline in Apple shares, offsetting gains in energy stocks as oil prices hit their highest in more than two years.

PREVIOUS DAY ROUNDUP (DOMESTIC)

The Indian equities ended tad higher on Tuesday, tracking mixed cues from Asian peers, led by strong buying across realty and metal stocks.
Outperforming the benchmark index, the broader markets ended higher, with MidCap and SmlCap indices gaining between 0.64­0.76 per cent.

Global Market:

• The US economy grew at its fastest pace in more thantwo years in the third quarter, indicating steady growth in the world’s largest economy.

• Asian stocks were trading mixed in a thin holiday shortened week shrugging off overnight declines seen on Wall Street as investors await the release of industrial profit numbers out of China.

Major Headlines of the day:

• Canara Bank said it will raise up to Rs 3,500 crore capital through a qualified institutions placement (QIP) route.The decision in this respect was taken at the bank's board meeting.
  Jindal Steel and Power Ltd said it has successfully completed a 250 ton basic oxygen furnace (BOF), marking the completion of the company's 6­MTPA integrated steel project at Angul in Odisha.

Trend in FII flows: The FIIs were Net Value of Rs -44.07 the cash segment on Tuesday while the DIIs were Net Value of Rs 544.50 as per the provisional figures.

Securities in Ban For Trade Date 27-DEC-2017:

1.BALRAMCHIN

2.DHFL

3.DLF

4.GMRINFRA

5.HDIL

6.IFCI

7.JETAIRWAYS

8.JISLJALEQS

9.JPASSOCIAT

10.RELCAPITAL

11.WOCKPHARMA

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

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