Indian Indices:
Indian shares are likely to witness a positive start on Monday morning as the global markets look supportive with SGX Nifty trading 40 points higher @9943.50,Indian equities are likely to open higher on Monday, tracking firm cues from Nifty futures on the Singapore Stock Exchange and positive trading across Asian markets.
Back home, bullish trend in the SGX Nifty Index Futures for July delivery, which were trading at 9,943.50, up by 40 points or 0.40 per cent, at 10:54 AM Singapore time, also signaled a positive opening for local bourses.
On the economy front, Wholesale inflation fell to the lowest in at least eight months. Contraction in food prices dragged India's annual rate of inflation based on wholesale prices to record low levels of 0.90 per cent in June, official data showed on Friday. With WPI and retail inflation falling in June, this would put pressure on the Reserve Bank of India to cut the policy interest rate in August.
Investors will also react to earnings of Infosys after IT major reported a 3.3 per cent year-on-year drop in net profit at Rs 3,483 crore for the first quarter ended June 30, 2017. Revenue for the quarter dropped 0.2 per cent to Rs 17,078 crore compared with Rs 17,120 crore in the corresponding quarter of last year. The company, however, continued to maintain its constant currency revenue growth guidance of 6.5 to 8.5 percent.
On the earnings front, 17 companies will announce its June quarter results today, which include, ACC and Jubilant Food Works.
On Friday, The Indian equity benchmarks ended flat with negative bias on Friday, snapping the 4-day record closing trend as weak corporate earnings failed to boost the market sentiments. Last week turned out to be a historic one for the domestic bourses as the both the benchmark indices rallied to hit record highs.
The BSE Sensex gained over 660 points while the NSE component Nifty added 220 points to clock the lifetime highs. The 30-share barometer SENSEX closed at 32020.75, down by 16.63 points or by 0.05 per cent, and the NSE Nifty ended at 9886.35, down by 5.35 points or by 0.05 percent.
Global Market:
The Asian stocks were trade in green after Wall Street ended higher on Friday amid hopes that Federal Reserve would continue accommodative monetary policy following disappointing economic data which indicated that US economic growth is not growing as previously anticipated.
China's economy grew faster than expected in the second quarter as industrial output and consumption picked up and investment remained strong, though analysts expect slower growth over the rest of the year as policymakers seek to reduce financial risk.
The dollar huddled near a 10-month through on Monday as the diminished risk of aggressive U.S. policy tightening sent investors piling into leveraged positions in higher yielding currencies or risky assets.
Major Headlines of the day:
• Govt will invest Rs 8.5 lakh cr in railways in 5 yrs, says Suresh Prabhu.
• Mahindra to invest $1 bn in US in 5 yrs, seeks to double American revenues.
• HPCL to invest Rs 61,000-cr by 2021 on expansion projects.
• NBCC targets 25% revenue growth via Rs 25-cr new biz in FY18.
Trend in FII flows: The FIIs were net buyers of Rs 673.56 the cash segment on Friday while the DIIs were net sellers of Rs -136.27 as per the provisional figures.
Upcoming Result : GRUHFINANCE, DCBBANK, KTKBANK, ACC, JUBLFOOD, SHARDA MOTOR
Securities in Ban For Trade Date 17-JUl-2017:
1.GMRINFRA
2.HDIL
3.IBREALEST
4.JPASSOCIAT
5.JSWENERGY
6.KSCL
7.ORIENTBANK
8.UJJIVAN
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