Indian Indices:
Indian equity markets may open in negative terrain on Tuesday following weak cues prevailing in the Asian peers and after reports of North Korea fired a ballistic missile that flew over Japanese airspace. The SGX Nifty, which was trading at 9,863 down by 50 points, indicate a weak start for the day.
Nifty50 index after registering up-move for the fourth session in a row, now needs to cross the major hurdle of 9,930-9,940 and if it does sustain above this resistance zone it may extend its up-move up to levels of 9,980-10,020. On the flip side, the region of 9,870-9,980 is an immediate support level and if this support is breached next support stands at 9,840.
Back home, after starting the fresh week on a firm note, Indian markets held firm throughout the session and ended in positive territory for the fourth straight session on Monday. BSE Sensex gained 155 points to close at 31,751 and Nifty surged 56 points to settle above 9,900 mark.
Global Market:
U.S. stocks spent the day oscillating in a narrow range and ended the session little changed on Monday, with the Dow industrial slipping in negative terrain and on the other hand, Nasdaq and the S&P 500 posting marginal gains as investor gauged the effect of Hurricane Harvey that has left parts of the Houston-area underwater. The Nasdaq Composite Index gained 17 points to finish at 6,383 and the S&P scaled up 1 point to finish at 2,444. While the Dow Jones Industrial Average slipped 5 points to close at 21,808.
Asian indices were under pressure in early trade on Tuesday after reports that North Korea fired a ballistic missile that flew over Japanese airspace. Japan’s Nikkei 225 has shed 143 points. Hong Kong’s Hang Seng has lost 122 points and China’s Shanghai Composite is trading flat.
Major Headlines of the day:
• Infosys: The company has informed the bourses that some members of the promoters and promoter group may participate in the proposed buyback.
• NTPC: Government has proposed to sell 41.22 crore shares or 5% stake in the company via offer for sale. The floor price is set at Rs 168 per share.
• Century Plyboards: The company has acquired additional 2% in Huesoulin wood processing factory increasing its holding to 51%.
• Magma Fincorp: The company has acquired 26% stake in Magma ITL Finance from International Tractors Limited.
Trend in FII flows: The FIIs were net buyers of Rs -124.74 the cash segment on Monday while the DIIs were net sellers of Rs 476.26 as per the provisional figures.
Securities in Ban For Trade Date 29-AUG-2017:
1.BEML
2.GMRINFRA
3.HDIL
4.IBREALEST
5.INDIACEM
6.JPASSOCIAT
7.JSWENERGY
8.JUSTDIAL
9.RELCAPITAL
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