Indian Indices:
Indian benchmark indices are likely to open higher on Monday, tracking bullish cues from Nifty futures on the Singapore Stock Exchange and firm global cues. Markets across Asia were trading higher as investors took cues from strong closing of Wall Street on last Friday. SGX Nifty is trading 42 points up
Indian equity benchmarks end little changed but managed to post their best weekly performance in nearly two months led by the country’s largest drug maker Sun Pharmaceuticals Ltd. Dixon Technologies & Bharat Road Network to be listed on the exchanges today.
Back home, Indian market rebounded from the earlier losses to end the last trading session of the day on a flat note. ONGC and Bajaj Auto topped the list of gainers, while Dr Reddy’s Lab and IndusInd Bank led the losers. At the closing bell, the BSE Sensex rallied 31 points to end at 32,273 and Nifty index shed 1 point to finish at 10,085.
Global Market:
• Wall Street reached record highs on Friday, with the S&P 500 surpassing 2,500 points as telecommunications shares rose and technology bounced back after two days of declines.
• Asian stocks inched higher following a record-breaking Wall Street session.
• The US stock benchmarks ended Friday’s session in positive territory with the Dow and the S&P 500 reaching new record closing highs. The Dow Jones Industrial Average rose 65 points to close at 22,268. The Nasdaq Composite Index advanced 19 points to finish at 6,448 and the S&P 500 inched up 5 points to end the day at 2,500.
Major Headlines of the day:
• Dr. Reddy’s U.K. Plant Gets Three Observations with form 483 From U.S. Drug Regulator. The Mirfield UK facility manufactures API, which are the biologically active components used in medicines.
• Cadila: Received USFDA approval for Modafinil tablets used to improve wakefulness & Solifenacin Succinate tablets used to treat overactive bladder.
• BPCL eyes government stake in GAIL India for Rs18,000-20,000 crore. By acquiring a majority stake in GAIL , BPCL will automatically get a large customer base.
• Laurus Labs has received the Establishment Inspection Report from US FDA for its Finished Dosage Formulations & Active Pharmaceutical Ingredients manufacturing plant, Unit 2, Vishakhapatnam.
Trend in FII flows: The FIIs were net buyers of Rs 418.86 the cash segment on Friiday while the DIIs were net sellers of Rs 125.55 as per the provisional figures.
Securities in Ban For Trade Date 18-SEP-2017:
1.DHFL
2.HDIL
3.IBREALEST
4.JPASSOCIAT
5.JSWENERGY
6.WOCKPHARMA
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