Indian Indices:
The domestic equity benchmark indices are likely to open on a flat note today tracking muted cues from Nifty futures on the Singapore Stock Exchange and positive global peers. bullish trend in the SGX Nifty Index Futures for December delivery, which were trading at 10,462.00, up by 7.5 points or 0.07%at 11:22 AM Singapore time, also signaled a flat opening for the domestic equity bourses.
On the stock front
• Shares of HDFC Ltd will remain in focus as the company announced the sale of two subsidiaries, HDFC Developers and HDFC Realty to Quikr India Pvt. Ltd for a total of Rs350 crore.
• Shares of Reliance Infrastructure Ltd will be in focus as the company said it has signed a definitive binding agreement to sell its Mumbai power business to Adani Transmission Ltd for Rs18,800 crore.
On the economy front
IMF has said that India's financial sector is facing considerable challenges in the backdrop of high non-performing assets and slow deleveraging and repair of corporate balance sheets which is holding back growth.
PREVIOUS DAY ROUNDUP (DOMESTIC)
The key Indian benchmarks ended lower on Thursday after minutes of the Reserve Bank of India (RBI)'s fifth bi-monthly policy review showed that all members of rate setting committee were worried due to rise in inflation and an uncertain recovery of growth.
Global Market:
• The US economy grew at its fastest pace in more thantwo years in the third quarter, indicating steady growth in the world’s largest economy.
• Asian markets were trading higher tracking positive closing at Wall Street overnight following upbeat US economic data.
• Wall Street finished higher on Thursday supported by rally in energy and financial shares following passage of the landmark US tax cut. The two chambers of the U.S. Congress approved a $1.5-trillion tax bill this week. On the data front, the US economy grew at its fastest pace in more than two years in the third quarter. Gross domestic product expanded at a 3.2% annualized rate last quarter, the US Commerce department said. Separately, data showed that initial jobless claims rose a higher¬than-expected 20,000 in the latest week.
Major Headlines of the day:
• Motherson Sumi Systems' promoter Samvardhana Motherson International today sold 1.37 per cent stake inthe firm for over Rs 1,079 crore, through an open market transaction.
• Dalmia Bharat said its Rs 402 crore bid to acquire Murli Industries Ltd (MIL) has been approved by the Committee of Creditors (CoC) of the Nagpur based company.
Trend in FII flows: The FIIs were Net Value of Rs -388.99 the cash segment on Thursday while the DIIs were Net Value of Rs 1574.30 as per the provisional figures.
Securities in Ban For Trade Date 22-DEC-2017:
1.BALRAMCHIN
2.DHFL
3.DLF
4.FORTIS
5.GMRINFRA
6.HDIL
7.IFCI
8.JETAIRWAYS
9.JPASSOCIAT
10.JSWENERGY
11.RCOM
12.WOCKPHARMA
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