Indian Indices:
Indian shares are likely to witness a muted opening on Thursday morning as the global markets look subdued with SGX Nifty trading 13 points lower @10075,Indian equities are likely to open lower on Thursday, tracking bearish cues from Nifty futures on the Singapore Stock Exchange and mixed trading across global markets.
Back home, bearish trend in the SGX Nifty Index Futures for August delivery, which was trading at 10,073.00, down by 14.50 points or 14.00 percent, at 10:48 AM Singapore time, also signaled a negative opening for local bourses. On the economy front, the government has asked state-controlled oil companies to keep raising prices of subsidized kerosene by 25 paise every fortnight until the subsidy is eliminated, says media report.
On the corporate front, the market regulator Sebi has imposed fine on 13 individuals for alleged insider trading in shares of MCX and Financial Technologies, which include close relatives of FTIL promoter Jignesh Shah. Investors will keep an eye on earnings report of big companies such as Jindal SAW, Majesco, HFC PNB, Ramco Cements, Titan, and VIP Industries.
On Wednesday, the Indian equities ended lower as investors resorted to profit booking after the Reserve Bank slashed repo rate by 25 bps, which fell short of market expectations of 50 bps rate cut hopes. The Reserve Bank of India today announced the first rate cut in October 2016 by 25 basis points to 6 per cent, based on the assessment of the current and evolving macroeconomic situation.
The 30-share barometer SENSEX closed at 32476.74, down by 98.43 points or by 0.3 per cent, and the NSE Nifty ended at 10081.5, down by 33.15 points or by 0.33 points.
Global Market:
US stock displayed a mixed performance on Wednesday with the Dow finished above the important psychological 22,000 mark for the first time as Apple shares rallied to a record after strong earning. The Dow Jones Industrial Average jumped 52 points to end at 22,016. The S&P 500 rose a point to close at 2,477 and the Nasdaq Composite Index slipped less than a point to end at 6,362.
Most of the Asian stocks were trading in negative territory in early trade on Thursday. Japan’s Nikkei 225 has slipped 81 points. Hong Kong Hang Seng has plunge 139 points, while China’s Shanghai Composite trading flat with positive bias.
In the overnight trade, Wall Street ended higher as corporate results dominated market sentiment.
Major Headlines of the day:
• IOC aims to source a tenth of oil needs from own assets.
• Reliance Infra Q1 net dips 24% at Rs 334 cr.
• Lupin Q1 net plunges 59% to Rs 358 cr on price erosion in US.
Trend in FII flows: The FIIs were net buyers of Rs 473.72the cash segment on Wednesday while the DIIs were net sellers of Rs -232.95 as per the provisional figures.
Upcoming Result: CEAT LTD, COLGATE, CUMMINS IND.
Securities in Ban For Trade Date 03-AUG-2017:
1.IBREALEST
2.JPASSOCIAT
3.JSWENERGY
4.WOCKPHARMA
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