Indian Indices:
Indian shares are likely to witness a muted opening on Thursday morning as the global markets look subdued with SGX Nifty trading 6.50 points lower @9911
Indian shares are likely to witness a muted opening on Thursday morning as the global markets look subdued with SGX Nifty trading 6.50 points lower @9911Nifty closed at 9,908, down by 70 points while Sensex closed at 31,797, down by 216 points on Wednesday. The market witnessed lower closing for three consecutive trading sessions for the first time in six weeks.
There were 324 advances, 1,322 declines and 296 unchanged stocks on NSE, reflecting strong negative sentiments floating in the market. Nifty50 index breached its 20-day moving average of 9,974 level to touch intraday low of 9,893 level.
Going forward, Nifty50 index has immediate support placed around levels of 9,870 and next support stand at levels of 9,840. On the upside, immediate resistance is likely in the range of 9,925-9,930 and next resistance is placed around levels of 9,950.
Global Market:
Asian markets mixed as N Korea geopolitical tensions rise. Equities in Asia were trading mixed in Thursday’s trade, although geopolitical tensions continue to weigh on the Asian equities.
US President Donald Trump warned North Korea on Tuesday about facing "fire and fury" if North Korea delivers more threats against the US. North Korea responded by saying it was "carefully examining" the idea of a missile strike on Guam, a US Pacific territory.
Hong Kong's Hang Seng Index slipped 0.47% while mainland markets traded marginally higher. The Shanghai Composite added 0.08% and the Shenzhen Composite inched higher by 0.07%. The Korean won stabilised after tumbling overnight. The dollar fetched as little as 1,138.21 won in the Wednesday session compared to levels around the 1,127 handle earlier in the week.
Major Headlines of the day:
• Varun Beverages' intent to enter into a binding agreement to acquire PepsiCo India's previously franchised territories of the State of Odisha and parts of Madhya Pradesh along with three -manufacturing units at Cuttack, Bargarh and Bhopal (Mandideep).
• HPCL, ONGC in focus - The government has tweaked terms of sales of stake in HPCL to avoid open offer.
• NHPC signing of power purchase agreement with BSES Yamuna Power Limited.
• Piramal Finance (unit of Piramal Enterprises) invests Rs 400 crore in auto parts maker Hema Engineering:
Trend in FII flows: The FIIs were net buyers of Rs -841.44 the cash segment on Wednesday while the DIIs were net sellers of Rs 553.17 as per the provisional figures.
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Securities in Ban For Trade Date 10-AUG-2017:
1.DLF
2.HDIL
3.IBREALEST
4.INDIACEM
5.JINDALSTEL
6.JISLJALEQS
7.JPASSOCIAT
8.JSWENERGY
9.WOCKPHARMA
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