Indian Indices:
Indian shares are likely to witness flat trade in morning deals as the global markets look subdued with SGX Nifty trading 5 points higher @9667
Indian equities are likely to open flat with negative bias on Thursday, tracking muted cues from Nifty futures on the Singapore Stock Exchange and mixed trend from global markets.
Back home, muted trend in the SGX Nifty Index Futures for June delivery, which were trading at 9,666.00, up by 04.00 points or 0.04 per cent, at 10:54 AM Singapore time, also signaled a flat opening for local bourses.On Wednesday, the Indian equities ended in negative terrain for the second straight session, tracking weak cues from Asian peers and slump in crude oil prices, as investors remained wary ahead of the release of minutes of a policy meet held by the Reserve Bank earlier this month.
On the economy front, RBI policy minutes showed that five of the six members had voted in favour of status quo on rates, citing risks to inflation.
RBI's Monetary Policy Committee (MPC), which met on June 6-7, revealed that it was for the first time that the decision of the MPC, constituted last September, was not unanimous as Ravindra Dholakia had pitched for a 50 basis point cut in the repo rate, saying several noteworthy developments recently on prices and output fronts warrant a decisive policy action.
Global Market:
Asian markets were trading mixed, with Hang Seng and Shanghai were up, while Nikkei was marginally down, as rebound in crude prices ease investor sentiment which slipped to 10-month low in overnight trade which dragged US and European markets.
U.S. financial regulators could ease rules that keep taxpayer-backed banks out of some risky investments, according to testimony released on Wednesday ahead of a Senate hearing.
In the overnight trade, Wall Street ended mostly lower, dragged by decline in bank and energy stocks, as investors weighed persistent slump in oil prices.
Major Headlines of the day:
• Tata Trent raises Rs 100 crore to refinance upcoming repayments.
• USFDA audit finds no flaws in Cadila Healthcare Moraiya unit.
• GTPL Hathway IPO subscribed 27% on Day 1.
• CDSL's Rs 524-cr IPO a massive hit; gets oversubscribed 169 times.
• SBI ETF pips HDFC Equity to become country's largest equity scheme.
Trend in FII flows: The FIIs were net buyers of Rs -152.82 the cash segment on Wednesday while the DIIs were net sellers of Rs -41.39 as per the provisional figures.
Securities in Ban For Trade Date 22-JUN-2017:
1.ALBK
2.BANKINDIA
3.BEML
4.HDIL
5.IBREALEST
7.IFCI
9.INFIBEAM
10.JPASSOCIAT
11.KSCL
12.ORIENTBANK
13.RCOM
14.WOCKPHARMA
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