Indian Indices:
Indian shares are likely to witness a flat opening as the global markets are muted with SGX Nifty trading 2.50 points higher @9622. The Indian benchmarks are set to open flat on Wednesday amid mixed cues from Asian peers. Also, Wall Street ended lower in the previous trading session as weakness in the energy and financial sectors outweighed gains in technology shares.
On the economic front, the investors will eye the GDP numbers as the Government will unveil GDP figures for the quarter ended on May 31, Wednesday post market hours. Gross domestic product (GDP) had grown marginally lower, at 7 percent, in the third quarter of FY17, down from 7.4 percent in the second quarter.
The Indian equity benchmarks ended at fresh record closing high with benchmark index Sensex ending nearly 50.12 points higher, while NSE Nifty settled at 9,624.55-mark, as investors cheered the news of early arrival of monsoon and expectation of implementation of GST.
The 30-share barometer index of Bombay Stock Exchange, Sensex closed trade at 31,159.4 up by 50.12 points or 0.16 per cent, while the NSE Nifty ended at 9,624.55 up by 19.65 points or 0.2 per cent.
Global Market:
Asian stocks climbed on Wednesday, capping a fifth consecutive month of gains, as data showed China's factory activity grew at a steady clip this month, bucking expectations of a slowdown.
Oil prices fell on Wednesday, as rising output from Libya added to concerns about increasing U.S. production which is undermining OPEC-led production cuts aimed at tightening the market.
Japan's factory output rebounded in April from March and grew at the fastest pace in almost six years, taking production to its highest level since 2008.
Major Headlines of the day:
• Eveready to form JV with McLeod Russel for packet tea business.
• EIH Q4 net profit up 78% at Rs 50 crore.
• Max Financial net profit jumps 51% at Rs 593 cr in FY17.
• JLR slashes select model prices by up to Rs 10.9 lakh to offer GST benefits
Trend in FII flows: The FIIs were net buyers of Rs -217.10 the cash segment on Tuesday while the DIIs were net sellers of Rs 366.97 as per the provisional figures.
UPCOMING RESULTS: CASTROLIND,
Securities in Ban For Trade Date 31-MAY-2017:
1. RCOM
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