Indian Indices:
The Indian benchmark indices are set to open higher on Wednesday amid mixed cues from the Asian peers. The Asian markets have opened on a mixed note even after US equities closed higher overnight. SGX Nifty is trading @ 9885 up by 10 Points.
Equity markets closed higher for third consecutive session on Tuesday, ahead of outcome of RBI policy meeting due. Repo , Reverse Repo and CRR are expected to remain unchanged at 6%, 5.75% and 4% respectively. Nifty opened at 9,884 level, up by 25 points while Sensex opened at 31,522 level, up by 25 points. Nifty opened at 9,884 level, up by 25 points while Sensex opened at 31,522 level, up by 25 points.
Hindustan Petroleum was top Nifty gainer trading at Rs 444 per share, up by 2.16% whereas Coal India was top Nifty loser trading at Rs 270.5 per share, down by 0.55%.
Global Market:
• Asian equity benchmarks are trending up in the early morning trade on Wednesday, tracking positive cues overnight from Wall Street. Japan’s Nikkei 225 has gained 47 points, Hong Kong's Hang Seng has surged 243 points and China’s Shanghai Composite has added 10 points.
• US equities continue to set fresh records on Tuesday. The Dow Jones Industrial Average added 84 points to settle at 22,642. The Nasdaq Composite Index rose 15 points to close at 6,532. The S&P 500 inched up 6 points to finish at 2,535. Dow notches 5-day winning streak as stocks close at record highs.
Major Headlines of the day:
• Natco Pharma’s partner Mylan gets USFDA nod multiple sclerosis drug Copaxone
• Tech Mahindra signs multi-million euro deal with fiber products maker Ahlstrom-Munksjö
• Ahluwalia Contracts (India) Ltd has secured new orders aggregating to Rs556 crore for construction of Institutional, Residential building & commercial including Electrical, plumbing & firefighting services
• Tata Motors - JLR reports strong US sales for September; Total sales rise 16.9% to 9,703 units vs 8,29
Trend in FII flows: The FIIs were net buyers of Rs –693.03 the cash segment on Monday while the DIIs were net sellers of Rs 1552.41 as per the provisional figures.
Securities in Ban For Trade Date 04-OCT-2017:
1.IBREALEST
2.JSWENERGY
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RBI Governor Urjit Patel-headed six member in the monetary policy committee (MPC) on Wednesday decided to keep the short-term lending rate known as repo rate, unchanged at 6 per cent, the cash reserve ratio unchanged at 4 per cent, they cut the statutory liquidity ratio by 50 basis points to 19.5 per cent.
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