Tuesday, January 30, 2018

Sensex opens lower, Nifty holds 11,000; IOC, Bharti Airtel gain

Indian Indices:

The market began the session on a mildly lower note, with the Nifty holding 11,000-mark.

The Sensex is down about 25.75 points or 0.07% at 36,007.98, while the Nifty was down 9.90 points or 0.09% at 11039.80. The market breadth still continues to be negative as 413 shares advanced, against a decline of 639 shares, while 140 shares are unchanged. Midcaps continued to be weak, with the Nifty midcap index trading around 0.40 percent lower. The Indian rupee opened lower at 63.67 per dollar on Wednesday versus previous close 63.60.Pramit Brahmbhatt of Veracity said, "On the back of negative cues from domestic equity market, the rupee will remain under pressure."

On the Earning front

Stock  focus will be ARVIND, DABUR, ESCORT, EXIDE, ICICIBANK, IIFL, JSWSTEEL, KAJARIACER, L&T, NTPC, PVR, RELINFRA, VEDL, VRLLOGISTIC, among others which will announce their December 2017 quarter earnings report today.

Global Market:
Asia stocks eased on Wednesday, pulling further back from record highs, as the recent rise in global bond yields weighed on equities. MSCI's broadest index of Asia-Pacific shares outside Japan added to the previous day's losses and dipped 0.1 percent, after reaching a record high on Monday.
US Markets: US stocks fell for a second straight day on Tuesday, with the Dow registering its biggest two-day drop since September 2016, pressured by healthcare stocks and rising bond yield
European markets also closed lower yesterday with FTSE down 1.10%, CAX was down 0.87% and DAX closed 0.98% lower.

Major Headlines of the day:
Syndicate Bank board meet on Feb 2 to approve revised capital plan pf bank from earlier Rs 3500 cr to Rs 3990cr through QIP/ Rights issue/ Follow on public offer.
Welspun Enterprises acquired 49% stake in the Project for Four laning of Chikhali - Tarsod (Package-IIA) section of NH-6 from km. 360.000 to km.422.700 from Vishvaraj Group for a consideration of Rs 83.3 million.

Trend in FII flows: The FIIs were Net Value of Rs -105.56  the cash segment Tuesday while the DIIs were Net Value of Rs -281.65 as per the provisional figures.

Securities in Ban For Trade Date 31-JAN-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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