Indian Indices:
Indian equities are poised to open lower on Thursday, tracking mixed cues from fellow Asian peers, as traders would digest the impact of Union Budget on Dalal Street. Bearish trend in the SGX Nifty Index Futures for February delivery, which were trading at 8,704.00, down by 35.00 points or 0.40 per cent, at 10:58 AM Singapore time, also signaled a negative opening for Sensex.
The market may see sector specific movement as investors would assess the Budget impact as it tried to strike the right chord between popular and not a populist one.
On Wednesday, Indian equity benchmarks ended higher, with benchmark index Sensex ended nearly 486 points higher, while NSE Nifty settled above 8,700-mark, as investors gave thumbs up to Union Budget 2017-18, which unveiled a slew of measures in banking, finance, income tax, small housing and small & medium business sectors.
The 30-share barometer index of Bombay Stock Exchange, Sensex closed trade at 28,141.64 up by 485.68 points or 1.76 per cent, while the NSE Nifty ended at 8,716.4 up by 155.1 points or 1.81 percent.
Global Market:
Asian shares ticked up while the dollar was capped on Thursday after the U.S. Federal Reserve stuck to its mildly upbeat economic view but gave no hint of any immediate rate hike.
U.S. shares have been hit by worries that Trump's tough stance on refugees and immigration could stem inflows of talent to the U.S. labor market and raise geopolitical tension
Major Headlines of the day:
• Adani Power: Adani Power promoter and promoter group increase holding to 65.9% by converting part of convertible warrants into equity shares.
• Mphasis: Mphasis has said its board has approved a share buyback plan worth up to Rs 1,103 crore. The shares to be bought back with a maximum price is 1.73 crore equity shares of Rs10 each
• Cipla: The pharma company sold 100% equity stake in Four M Propack to Shriji Polymers.
Trend in FII flows: The FIIs were net buyers of Rs 92.73 the cash segment on Wednesday while the DIIs were net sellers of Rs 1,133.74 as per the provisional figures.
UPCOMING RESULTS: DR LALPATH, VIJAYA BANK, GODFREY PHILIP, AEGIS, ATLAS, GABRIEL, GLENAMRK, GOREJPROP, MARICO, TIMKE.
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