Markets open lower; Nifty below 9200, Infosys, Tata Steel down : 13 Apr 2017

Indian Indices:

The benchmark indices opened marginally lower on Thursday on the back of weak global cues.

The Sensex down 46.92 points at 29596.56, and the Nifty down 18.35 points at 9185.10. About 673 shares have advanced, 441 shares declined, and 55 shares are unchanged.

Reliance Industries, Cipla, Sun Pharma, Bajaj Auto, GAIL, Bosch, Indiabulls Housing and Aurobindo Pharma are the top gainer on the indices, while Adani Ports, Infosys, Tata Steel, Larsen and Toubro, Tata Motors, Hindalco and Tata Power are the top losers. Infosys has reported profit at Rs 3,603 crore for January-March quarter, degrowth of 2.8 percent against Rs 3,708 crore in previous quarter.

There are 812 advances, 597 declines and 488 unchanged stocks on NSE reflecting fairly positive bias floating in the market. For Nifty index, the levels of 9,245 and 9,280 may prove as a short-term resistance levels, whereas the level of 9,150 is likely to act as a short term support.

Global Market:

The US stocks fell for a second day in a row on Wednesday as lingering geopolitical concerns weighed on investor’s sentiment. The Dow Jones Industrial Average shed 59 points to end at 20,592.

Asian markets declined on Thursday. Japan’s Nikkei 225 declined for a third session after the yen rose to the strongest in almost five months.

The market is still offering globally diversified equity investors a free lunch, but only if they are in it for the long haul.

Major Headlines of the day:

• Heritage Foods completes acquisition of dairy business of reliance retail.
• Infosys Q4 profit falls 2.8%, FY18 dollar revenue guidance at 6.5-8.5%.
• Cipla subsidiary Cipla Medpro South Africa completes acquisition of Anmarate.

Trend in FII flows: The FIIs were net buyers of Rs  -580.70  the cash segment on Thursday while the DIIs were net sellers of Rs 701.12  as per the provisional figures.

UPCOMING RESULTS:  DCB BANK,RELIANCE POWER, RELINFRA, BAJAJ CORP.

Securities in Ban For Trade Date 13-APR-2017:    

1.ADANIPOWER
2.BHARATFIN
3.INFIBEAM
4.JINDALSTEL
5.UJJIVAN

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