Indian Indices:
Indian shares are likely to witness a flat to weK opening as the global markets are seen trading slightly lower with SGX Nifty trading 16 points lower @9840. The broader markets, MidCap and SmalCap, after seeing correction in last few sessions, gained 1.35 per cent and 2.01 per cent.
Indian equities are likely to open lower on the first trading day of the June futures and options contracts, tracking bearish cues from Nifty futures on the Singapore Stock Exchange and mixed trading across Asian markets.Back home, bearish trend in the SGX Nifty Index Futures for June delivery, which were trading 9,482.50, down by 13.50 points or 0.14 per cent, at 10:44 AM Singapore time, also signaled a negative opening for local bourses.
The 30-share barometer SENSEX closed at a new high of 30750.03, up by 448.39 points or by 1.48 per cent, and the NSE Nifty gained 149.2 points, or 1.59 per cent, to settle at 9509.75.
Global Market:
Asian stocks dropped, turning away from Wall Street's strong performance overnight.
OPEC and non-members led by Russia decided on Thursday to extend cuts in oil output by nine months to March 2018 as they battle a global glut of crude after seeing prices halve and revenues drop sharply in the past three years.
The current level of U.S. prices is noticeably lower than what it would be if the Federal Reserve had delivered on its 2-percent inflation target, St. Louis Federal Reserve President James Bullard said, calling the trend 'worrisome.'
Major Headlines of the day:
• Nalco's revenue pegged at Rs 8,100 crore in FY18.
• Voltas net jumps 22% in Q4, shares gain 6%.
• IOC posts 85.5% rise in Q4 profit on back of inventory gains.
Trend in FII flows: The FIIs were net buyers of Rs 589.11 the cash segment on Thursday while the DIIs were net sellers of Rs -236.44 as per the provisional figures.
UPCOMING RESULTS: ALKEMLAB, BEML, CG POWER, DIVIS LAB, HPCL, ITC, NBCC, ONGC, TECHM, SUNTV, SUNPHARMA, TORRENTPHARMA, VIDEOCON.
Securities in Ban For Trade Date 26-MAY-2017:
NIL
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