Indian Indices:
Equity benchmarks as well as broader markets opened higher on Wednesday despite mixed Asian cues. Investors awaited the outcome of two-day Federal Reserve Policy meeting due tonight.
Nifty50 needs to hold above the level of 9,350 to continue its upward momentum. If it does hold above 9,350, it is likely to scale up to the level of 9,400. On the downside, the zone of 9,250-9,270 is a crucial support zone, and if Nifty50 trades below this support zone, it is likely to test the level of 9,200.
Indiabulls Housing Finance is the top Nifty gainer and Lupin is the top Nifty loser in the morning hours. Indiabulls Housing Finance is trading at Rs 1075.05 per share up by 5.71% whereas Lupin is trading at Rs 1303.90 per share, down by 2.57%.
The 30-share BSE Sensex was up 75.63 points at 29,996.81 and the 50-share NSE Nifty gained 23 points at 9,336.80. About 682 shares advanced against 194 declining shares on the BSE.
Global Market:
U.S equities closed mostly flat with a positive bias on Tuesday. The Nasdaq composite made an intraday high of 6,102.7 thus making a new high for itself.
Asian markets are trading mixed on Wednesday even as Wall Street recorded minor gains in spite of disappointing Apple earnings. Market participants will be eyeing the U.S. Federal Reserve meeting results.
Major Headlines of the day:
• Tata Steel UK completes sale of specialty steel business to Liberty House Group for 100 million pound
• RInfra revises InvIT issue size downwards to Rs2,500 crore
• Reliance Infratel approves Brookfield merger, RCOM to get Rs11,000 crore in cash
• Infosys plans to hire 10,000 American workers in next two years
Trend in FII flows: The FIIs were net buyers of Rs -611.82 the cash segment on Tuesday while the DIIs were net sellers of Rs 541.39 as per the provisional figures.
UPCOMING RESULTS: AJANTAPHARMA, ALEMBIC PHARMA, DHFL, ICICI BANK, VMART, ZANDU, KPR MILL, INTELLECT.
Securities in Ban For Trade Date 03-MAY-2017:
1.ADANIENT
2.BHARATFIN
3.JSWENERGY
4.UJJIVAN
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