Indian Indices:
Indian equity markets may open on a flat-to-positive note during early morning trade on Friday on the back of positive global cues. Indian equity markets may open on a flat-to-positive note during early morning trade on Friday on the back of positive global cues. The SGX Nifty, which was trading at 9,944 higher by 6 points is indicating a flat-to-positive start for the day.
Nifty50 index managed to close above 9,900 mark, now going forward, Nifty needs to cross hurdle of 9,930-9,945 to witness a fresh up-move towards 10,000 and 10,040 mark. Whereas, on the downside supports are seen at levels of 9,860 and 9,800. On Thursday, after the market hours GDP data was released. GDP for the April-June quarter fell to a three-year low of 5.7%. The economy had expanded at 6.1% in the previous quarter i.e. March and at a 7.9% in the April-June quarter last year.
Back home, Indian stocks on Thursday swung between gains and losses around the flat line till mid-afternoon trade, but buying in the latter part of the day helped indices to regain strength and Nifty ended above psychological 9,900 mark and the BSE Sensex closed above 31,700 mark.
Global Market:
The US stocks moved mostly higher during trading on Thursday, with the technology-laden the Nasdaq Composite Index logged its first all-time high since July. The Nasdaq Composite Index closed up 1% at 6,429, a fresh closing record. The Dow Jones Industrial Average inched up 60 points to close at 21,952 and the S&P 500 advanced 14 points to 2,472.
Asian stock indices were trading in positive territory on Friday. The Japan’s Nikkei 225 has advanced 0.17% and the Hong Kong's Hang Seng has gained 0.30%. The China’s Shanghai Composite has rose 0.43%.
Major Headlines of the day:
• Genus Power: Reliance MF purchases 15 lakh shares in the company, Already holds 1.2 crore shares.
• Welspun Enterprises: Receives letter of award from NHAI for highway project in Bihar, Company will develop the project stretch of 8.15 km at a bid project cost of Rs 1,161 crore
• Shankara Building: Products starts new processing facility and relocates one of its existing facility
• CCL Products: gets approval for setting up of freeze dried instant coffee manufacturing unit at Chittoor District, Andhra Pradesh
Trend in FII flows: The FIIs were net buyers of Rs 77.58 the cash segment on Thursday while the DIIs were net sellers of Rs 509.71 as per the provisional figures.
Securities in Ban For Trade Date 01-SEP-2017:
1.JSWENERGY
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