Nifty likely to enter risk-off mode : 8 May 2017

Indian Indices:

Benchmark indices opened in the green, tracking positive global cues, with the Street seeing a quarter percent uptick.The Indian rupee gained in the early trade on Monday. It has opened higher by 10 paise at 64.27 per dollar versus Friday's close 64.37.

Market reaction was muted following the results of the French presidential vote, said National Australia Bank Head of FX Strategy Ray At trill in a Monday morning note, although the euro/dollar bounced significantly.

The 30-share Sensex was up 79.41 points at 29938.21, while the Nifty was up 25.65 points at 9310.95. The market breadth was healthy as 733 shares advanced against a decline of 255 shares, while 40 shares were unchanged.

Global Market:

Asian shares traded mostly higher on Monday following the landslide victory of Emmanuel Macron in the French polls on Sunday, with the Nikkei share average hitting its highest level since December 2015.

Market reaction was muted following the results of the French presidential vote, said National Australia Bank Head of FX Strategy Ray Attrill in a Monday morning note, although the euro/dollar bounced significantly.

Major Headlines of the day:

• ACC-Initiation of a study to explore the possibility of a merger of the Company and Ambuja Cements. Ambuja Cements says board has formed panel to consider merger with ACC.
• Eicher Motors says planning capex of Rs 800 crore for FY18, Will be able to roll out BS-VI motorcycles from April 2020.
• Aurobindo Pharma seeks environment nod to expand Srikakulam Unit-9, Aurobindo Pharma Unit-9 to make bulk drugs, intermediates

Trend in FII flows: The FIIs were net buyers of Rs  -363.98 the cash segment on Friday while the DIIs were net sellers of Rs 298.11  as per the provisional figures.

UPCOMING RESULTS:  GATI, DMART, CANBK, INFRATEL, MANGALAM, UNION BANK, JAYSHREETEA, WELCORP,ABB.

Securities in Ban For Trade Date 08-MAY-2017:    

1.ADANIENT
2.BHARATFIN
3.IRB
4.JSWENERGY
5.KTKBANK
6.UJJIVAN

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