Indian Indices:
Indian markets likely to open with modest loss. Indian equity markets are likely to open tad lower on Thursday tracking mixed cues from the Asian peers and slightly lower close overnight on Wall Street. The muted trend in the SGX Nifty, which was trading with nominal loss of 11 points at 9,626, indicated that domestic bourses may open with modest loss.
Nifty50 needs to hold above the levels of 9,645-9,650 to extend its upmove towards the levels of 9,670-9,700. On the downside, the support for Nifty50 index is placed at levels of 9,550 and 9,500.
The GDP data were released after market hours on Wednesday. India’s GDP grew at 6.1% Y-o-Y during the January-March period. The GDP growth rate for the full year 2016-17 came in at 7.1%.
Global Market:
US stocks were little changed on Wednesday as financials dropped after JPMorgan and Bank of America warned of revenue weakness, offsetting gains in defensive plays.
Stocks in Asia were mostly flat on Thursday following a slightly lower close on Wall Street in the last session and ahead of the Caixin PMI data from China due later in the morning.
Asian markets were trading mixed on Thursday. Japan’s Nikkei 225 has surged 161 points, whereas Hong Kong’s Hang Seng has slipped 33 points and China’s Shanghai Composite has shed 13 points.
Major Headlines of the day:
• IOC, HPCL, BPCL in focus: Petrol price hiked by Rs 1.23 per litre, diesel price hiked by 89 paise per litre
• Bharat Gears considered and approved the proposal to avail a term loan of Rs 110 crore from KKR India Financial Services
• Dr Reddy's gets US FDA nod for Bivalirudin injectable (a specific & reversible direct thrombin inhibitor)
• Capital International sold entire stake in Reliance Communications via block deal on Wednesday
Trend in FII flows: The FIIs were net buyers of Rs 1048.93 the cash segment on Wednesday while the DIIs were net sellers of Rs -939.54 as per the provisional figures.
Securities in Ban For Trade Date 01-JUN-2017:
1.JPASSOCIAT
2.RCOM
3.RELCAPITAL
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