Indian Indices:
Indian shares are likely to witness a bullish opening on Wednesday morning as the global markets look supportive with SGX Nifty trading 13 points higher @9813. Robust trends in the SGX Nifty Index Futures for August delivery, which were trading at 9814, up by 18.00 points or 0.18 per cent, at 10:17 AM Singapore time, signaled a higher opening for the domestic bourses.
The Indian benchmark indices are set to open higher on Wednesday tracking strong cues from the Asian peers.
On the economy front, India’s retail inflation picked up to grow at 2.36 percent in July, firming up for the first time in three months, mainly due to an increase in foods prices. Also, state-owned Coal India Ltd (CIL) will be in focus today as it posted 23 per cent decline in consolidated profit at Rs 2,351.2 crore for the quarter ended June 30, 2017, due to higher expenses.
RIL will be in focus today as the government has imposed a new penalty of USD 264 million (about Rs 1,700 crore) on Reliance Industries Ltd and its partners for producing less than the targeted natural gas from eastern offshore KG-D6 fields in 2015-16.Banking stocks will be in focus today as public sector banks have reported 20 per cent jump in the outstanding loans by nearly 9,000 willful defaulters who collectively owed to lenders more than 92,000 crores at the end of March this year.
The 30-share barometer SENSEX closed at 31449.03, up by 235.44 points or by 0.75 per cent, and the NSE Nifty ended at 9794.15, up by 83.35 points or by 0.86 percent.
Global Market:
The Asian markets have opened higher as investors digested earnings releases from regional corporates and a resurgent dollar, while the Wall Street closed little changed in the previous trading session as declines in retailers following results offset upbeat US retail sales data.
Oil prices edged up on Wednesday on a fall in U.S. crude inventories, although markets were still being weighed down by general oversupply.
Negotiators from Canada, Mexico and the United States are aiming for an 'ambitious' first round of trade talks, a senior U.S. official said on Tuesday, as the countries try to fast-track a deal to modernize the 23-year-old pact by early next year.
Major Headlines of the day:
• TVS Motor acquires 24% stake in online marketplace RentOnGo.
• Maruti CEO Kenichi Ayukawa's salary up 6% at Rs 4.2 cr in 2016-17.
• Switzerland's biggest party is threatening to derail India's access to black money data.
Trend in FII flows: The FIIs were net buyers of Rs -1638.83 the cash segment on Monday while the DIIs were net sellers of Rs 1619.17 as per the provisional figures.
Securities in Ban For Trade Date 16-AUG-2017:
1.FORTIS
2.HDIL
3.IBREALEST
4.JISLJALEQS
5.JPASSOCIAT
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