SGX Nifty The Indian equity benchmark indices are likely to open on a flat note with positive bias today amid muted cues from Asian peers Muted trends
in the SGX Nifty Index Futures for January delivery, which were trading at 10,914, unchanged, at 11:32 AM Singapore time, signalled a flat opening for the domestic equity bourses. The markets may react to the report that India will overtake China to be the fastest growing large economy in 2018 and the country's
equity market will become the fifth largest in the world.
On the corporate front
Shares ONGC and HPCL will be in focus ONGC has agreed to acquire the government's entire 51.11 per cent stake in Hindustan Petroleum for about
Rs 37,000 crore in an all cash deal that would close by month end.
Shares of Reliance Industries will remian on investors' radar as the company reported a record net profit at Rs 9,423 crore in the quarter ended
December 2017, up by 25%, as against Rs7,533 crore a year earlier.
On the Earning front
Around 29 companies are scheduled to report their December 2017 quarter earning results today which include names like Asian Paints, Axis Bank,
Diwan Housing, Havells India, JustDial, Rallis India, Videocon Industries
Previous Day Roundup
The Indian equities extended broad-based rally on Friday, helped by sustained buying by foreign investor coupled with gains in rate sensitive bank and
realty stocks, tracking firm cues from Asian peers.
Major Asian markets are trading flat at present Nikkei is down 0.15%, Hang Seng is up 0.07%, while Shanghai Composite the is trading 0.06% higher.
US Markets: Major indices continued to march ahead with Nasdaq and the S&P 500 managing to close at record highs in Friday’s session. The Dow rose 0.2% to 26,071.72, the Nasdaq advanced 0.6% to 7,336.38 and the S&P 500 ended 0.4% higher at 2,810.30.
European also closed in the green on Friday with FTSE up 0.39 %, CAX up 0.57% and DAX closed 1.14% higher.
Major Headlines of the day:
Tata Steel will remain in focus in today’s trade as the company's board after the market hours on last Friday approved to raise Rs 12800 crore
through a rights issue of equity shares.
Oil and Natural Gas Corp (ONGC) has increased its first ever debt-raising plans by 40 per cent to as much as Rs 35,000 crore to fund its Rs 36,915¬
crore acquisition of Hindustan Petroleum (HPCL).
Trend in FII flows: The FIIs were Net Value of Rs 988.25 the cash segment on friday while the DIIs were Net Value of Rs 209.86 as per the provisional figures.
Securities in Ban For Trade Date 22-JAN-2017: