Bulls fell down and Bears came tumbling after; SGX Nifty down 44 pts;

Indian Indices:

Indian shares are likely to witness a gapdown Friday morning with negative bias as the global markets look subdued with SGX Nifty trading 44 points lower @9485. The Indian benchmarks are set to open flat on Friday tracking muted cues from other Asian peers.

On the corporate front, Central Depository Services (CDSL) is all set to make its debut on exchanges on Friday, June 30. The final issue price is fixed at Rs 149, the higher end of the price band.

HDFC will also be in focus on the news that HDFC Life, one of the country’s leading private sector life insurance companies, will decide on the initial public offering (IPO) in its Board meeting in July.

Muted trends in the SGX Nifty Index Futures for July delivery, which were trading at 9504.50, up by 2 points or 0.02 per cent, at 10:40 AM Singapore time, signalled a flat opening for the domestic bourses.

On Thursday, the Indian equities ended tad higher in choppy trade, tracking firm cues from Asian peers, as traders rolled-over their position on the eve of June derivatives contract expiry. Investors also remained wary ahead of the launch of the long pending new tax regime GST on July 01.

The 30-share barometer SENSEX closed at 30857.52, up by 23.2 points or by 0.08 per cent, and the NSE Nifty ended at 9504.1, up by 12.85 points or by 0.14 per cent.

Global Market:

Asian markets opened lower despite China manufacturing activity beating expectations as select tech shares around the region sold off, while the Wall Street closed lower in the previous trading session as S&P 500 and the Dow industrials suffered losses largely weighed down by technology stocks.

U.S. President Donald Trump will use the premise of a national security review of the U.S. steel industry to demand action by the Group of 20 leaders to reduce excess capacity and other distortions in the global steel market, White House economic adviser Gary Cohn said on Thursday

President Donald Trump on Thursday promoted a 'golden era' of the U.S. energy business by seeking to assert power abroad through a boost in natural gas, coal and petroleum exports.

Major Headlines of the day:

Apollo LogiSolutions raises Rs 485 cr from Piramal.

ICICI Bank-led consortium completes Rs 16,189-crore asset resolution.

Sebi asks mutual funds to hone due diligence, playing on debt funds

Trend in FII flows: The FIIs were net buyers of Rs -1140.77 the cash segment on Thursday while the DIIs were net sellers of Rs 600.23 as per the provisional figures.

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