Indian Indices:
Indian shares are likely to witness a strong opening on Tuesday morning as the global markets look supportive with SGX Nifty trading 26 points higher @10132.Indian equities are likely to continue bullish momentum on Tuesday, tracking firm cues from Nifty futures on the Singapore Stock Exchange and positive trading across Asian markets.
Back home, firm trend in the SGX Nifty Index Futures for August delivery, which were trading at 10,127.00, up by 21.00 points or 0.21 per cent, at 10:44 AM Singapore time, also signaled a positive opening for local bourses.
Investors are expected to keep an eye on domestic fiscal deficit for June, numbers on infrastructure output and RBI policy review which could have implications on the market.
According to market experts, RBI's monetary policy review, macroeconomic data like manufacturing PMI and services PMI data, and corporate earnings would set the tone for stock market trend this week. According to rating agencies like ICRA and HSBC, RBI would reduce the repo rate by 25 basis points (bps) in the upcoming policy review scheduled on August 02, 2017.On the sectoral front, auto stocks will remain in focus as automobile companies will unveil sales number for July, first time after GST implementation.
Investors will keep an eye on earnings report of big companies such as JSW Steel, Marico, Power Grid, Piramal Enterprises and Torrent Power, will announce their June quarter results today. On Monday, the Indian equities ended higher on Monday, helped by strong buying across consumer durables, capital goods and metal stocks, undermining weak cues from Asian peers.
The 30-share barometer SENSEX closed at 32514.94, up by 205.06 points or by 0.63 per cent, and the NSE Nifty ended at 10077.1, up by 62.6 points or by 0.63 points. SBI shares jumped over 4 per cent after the country’s largest lender lowered interest rate on savings bank accounts to 3.5 per cent from 4 per cent on balance of Rs 1 crore and below.
Global Market:
Asian stocks were trading higher as investors cheered strong corporate earnings and also better-than-expected China Caixin manufacturing PMI released earlier today.
The U.S. government slapped sanctions on Venezuelan President Nicolas Maduro on Monday, the Trump's administration's toughest move so far against his government in response to Sunday's election of a legislative super body Washington denounced as a 'sham' vote.
In the overnight trade, Wall Street ended mixed in volatile trade, pulled down by teck stocks, ahead of power pack earnings result lined-up this week, while investors also weighed ongoing global political uncertainty.
Major Headlines of the day:
• Max India pulls out of Max Life-HDFC Life deal.
• IRB InvIT distributed Rs 90 cr cashflow to unit holders.
• SBI cuts savings rate; m-cap up Rs 11,525 cr.
Trend in FII flows: The FIIs were net buyers of Rs -1196.94 the cash segment on Monday while the DIIs were net sellers of Rs 1768.43 as per the provisional figures.
Upcoming Result : JSWSTEEL, MARICO, OPTO CIRCUIT, POWERGRID, TORRENTPOWER, TCIXPS
Securities in Ban For Trade Date 01-AUG-2017:
1.IBREALEST
2.INFIBEAM
3.JSWENERGY
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