Indian Indices:
Indian shares are likely to witness a flat to positive start on Wednesday morning as the global markets look mixed with SGX Nifty trading 12 points higher @9806.Indian equities are likely to open flat with positive bias on Wednesday, tracking muted cues from Nifty futures on the Singapore Stock Exchange and bearish trading across Asian markets.
Back home, bullish trend in the SGX Nifty Index Futures for July delivery, which were trading at 9,806.00, up by 12 points or 0.11 per cent, at 10:50 AM Singapore time, also signaled a flat to positive opening for local bourses. Investors will react to earnings report of private-sector lender, IndusInd Bank, which reported a 26.5 per cent year-on-year growth in its net profit at Rs 836.55 crore for the June quarter, buoyed by higher net interest and other income.
Tata Steel will remain in focus after its UK unit has signed a definitive sale agreement to sell two of its pipe mills in Hartlepool to Liberty House Group. Tata group stocks will also see some movement after media report suggested that Tata Global Beverages has decided to sell its stake in various Tata group listed companies to its parent, Tata Sons, in the next few months.
On Tuesday, the Indian equities ended tad higher, with benchmarks Sensex and Nifty scaling fresh lifetime high led by gains in IT, auto and technology stocks, tracking firm cues from Asian peers. The foreign and domestic investors continued to bet on Indian equities amid optimism over June quarter corporate earnings and good monsoon rainfall.
The 30-share barometer SENSEX closed at 31747.09, up by 31.45 points or by 0.1 per cent, and the NSE Nifty ended at 9786.05, up by 15 points or by 0.15 per cent.
Global Market:
Asian shares steadied on Wednesday after Wall Street managed to weather a fresh twist in the political controversy surrounding U.S. President Donald Trump's administration, while investors looked ahead to Federal Reserve Chair Janet Yellen's comments later in the day.
President Donald Trump is increasingly unlikely to nominate Federal Reserve Chair Janet Yellen next year for a second term, and National Economic Council Director Gary Cohn is the leading candidate to succeed her, Politico reported on Tuesday, citing four people close to the process.
OPEC oil output has risen in June by more than 300,000 barrels per day, (bpd) according to figures the exporter group uses to monitor its supply, as a recovery in two nations exempt from a supply cut deal countered high compliance by many others.
Major Headlines of the day:
• Reliance Jio offer: Unlimited 3-month data at Rs399.
• Jet Airways to raise funds for fleet expansion.
• Tech Mahindra gets HC notice for illegal layoffs amid HR audio clip fiasco.
Trend in FII flows: The FIIs were net buyers of Rs 182.05 the cash segment on Tuesday while the DIIs were net sellers of Rs 335.75 as per the provisional figures.
Upcoming Result : BAJAJ CORP (TOMORROW), TCS, CYIENT, MCX (DAY AFTER).
Securities in Ban For Trade Date 12-JUl-2017:
1.HDIL
2.IBREALEST
3.JPASSOCIAT
4.JSWENERGY
5.UJJIVAN
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