Indian Indices:
Indian shares are likely to witness a positive start on Monday morning as the global markets look slightly supportive with SGX Nifty trading 17 points lower @9690.Indian equities are likely to start week on flat to positive note on Monday, tracking cues from Nifty futures on the Singapore Stock Exchange, undermining positive trading across Asian markets.
On the economy front, the government has decided to fast track 71 foreign direct investment proposals, which includes Amazon, Grofers, Urban Ladder, One97 (which runs Paytm) and Jasper Infotech (Snapdeal). Besides, the government may soon kick-off next round of strategic sales in state-run units following Air India stake sale proposal.
Investors will also keep an eye on progress of monsoon and beginning of the June quarter corporate earnings this 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, IDFC will remain in focus after infra lender entered into merger agreement with financial services major Shriram Group to create the largest retail-focused bank in the country.
The 30-share barometer SENSEX closed at 31360.63, down by 8.71 points or by 0.03 per cent, and the NSE Nifty was at 9665.8, down by 8.75 points or by 0.09 per cent.
Global Market:
Asian stocks were trading higher after Wall Street ended on positive note on Friday as investors sentiment were buoyed by strong US data.
Japan's core machinery orders unexpectedly tumbled in May on persistent weakness in the services sector, and the government downgraded the outlook for orders for the first time in eight months, raising doubts about the strength of the economic recovery.
Oil prices recovered some losses on Monday after a 3 percent fall in the previous session, but markets remain under pressure from high drilling activity in the United States and ample supplies from producer club OPEC.
Major Headlines of the day:
• JSW eyes lion's share in ongoing coal, steel e-auctions.
• GSK to invest Rs 1,000 cr in Karnataka for new plant.
• AU Small Finance Bank to make market debut today.
Trend in FII flows: The FIIs were net buyers of Rs -522.08 the cash segment on Friday while the DIIs were net sellers of Rs 720.08 as per the provisional figures.
Securities in Ban For Trade Date 10-JUl-2017:
1.HDIL
2.IBREALEST
3.JPASSOCIAT
4.JSWENERGY
5.UJJIVAN
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