Indian Indices:
Indian shares are likely to witness a flat to negative start on Friday morning as the global markets look slightly unsupportive with SGX Nifty trading 20 points lower @9647.Indian equities are likely to start on flat note on Friday, tracking muted cues from Nifty futures on the Singapore Stock Exchange and mixed trading across Asian markets.
Back home, muted trend in the SGX Nifty Index Futures for July delivery, which were trading at 9,513.00, down by 5.50 points or 0.06 per cent, at 11:00 AM Singapore time, also signaled a flat opening for local bourses. In absence of any major trigger, investors will keep an eye on progress of monsoon and beginning of the June quarter corporate earnings next week. According to the India Meteorological Department, rainfall activity is likely to be below normal over India during the first week of July 6-13.
On the corporate front, PSU banks will remain in focus as the government may infuse more money in public sector lenders following crackdown on bad loans and increasing capital needs under Basel III guidelines, says a media report. Shares of Gayatri Projects will see some movement as the Government of Singapore Investment Corp (GIC) on Thursday acquired a 6.2 per cent stake in the infrastructure company Gayatri in a block deal of about Rs 165 crore.
On Thursday, the Indian equities ended higher, albeit paring some of early gains, backed by gains in realty, banking and FMCG stocks, undermining soft cues from Asian peers.
The 30-share barometer SENSEX closed at 31369.34, up by 123.78 points or by 0.4 per cent, and the NSE Nifty ended at 9674.55, up by 36.95 points or by 0.38 per cent.
Global Market:
Asian shares lost ground on Friday after a weak session on Wall Street, while global sovereign debt yields were elevated across the board on bets the European Central Bank is moving ever closer towards unwinding its massive monetary stimulus.
Oil prices fell by more than 1 percent early on Friday, with U.S. crude futures dipping below $45 per barrel as news of a rise in U.S. production added to earlier reports that OPEC output was also on the rise.
Federal Reserve Chair Janet Yellen will deliver a second day of testimony on the U.S. central bank's semiannual report on monetary policy and the economy on July 13, a Senate committee announced on Thursday.
Major Headlines of the day:
• Bhushan Steel in deep crisis, net loss widens to Rs 1,130 cr in Q4.
• GST impact on real estate: Home buyers' tax burden won't rise.
• Nearly 15% growth in direct tax collections for FY18
Trend in FII flows: The FIIs were net buyers of Rs -15.29 the cash segment on Thursday while the DIIs were net sellers of Rs 315.95 as per the provisional figures.
Securities in Ban For Trade Date 07-JUl-2017:
1.HDIL
2.IBREALEST
3.JPASSOCIAT
4.JSWENERGY
5.UJJIVAN
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