Indian Indices:
Indian markets are likely to open flat on Monday, tracking mixed cues from fellow Asian peers, as oil prices fell sharply on Monday, while Indian Central Statistics Office lowered India’s economic growth estimate to 7.1%. Muted trend in the SGX Nifty.
The upcoming budget and assembly elections in UP, Punjab, Uttarakhand, Goa and Manipur would be key event to watch for which will set future direction for markets.
Indian shares ended down on Friday from a near two-month high hit earlier in the session, as a slump in IT shares on worries over H-1B visas outweighed positive sentiment from continued gains in Asian stocks. The S&P BSE Sensex and the CNX Nifty fell 0.44%-0.36% each.
Global Market:
Asian stocks edged higher on Monday, helped by a strong Wall Street, and the dollar stood tall against rivals after the latest U.S. payrolls data indicated strong underlying wage growth, strengthening the case for more rate increases in 2017.
US equities closed higher after hitting all-time highs on Friday as the technology sector led, while investors parsed through key employment data.
European stocks rallied from lows on Friday after a stronger than anticipated increase in earnings in a flagship U.S. jobs report made up for a weaker-than-forecast payrolls figure.
Major Headlines of the day:
• JSW Energy wins order from Karnataka Power Co for supply for 650 MW
• Suzlon bags maiden order win of 105-MW wind power project from Hyderabad-dased Axis Energy Group
• SREI Infra looking to divest up to 35% stake in Sahaj e-Village within FY18
Trend in FII flows: The FIIs were net buyers of Rs -255.218 Cr in the cash segment on Friday while the DIIs were net sellers of Rs 165.29 as per the provisional figures.
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