Indian Indices:
Indian benchmark indices are likely to open lower on Tuesday, tracking bearish cues from Nifty futures on the Singapore Stock Exchange and weak trend across global peers. Markets across Asia were trading lower following the weak closing of the Wall Street in overnight trade.
SGX Nifty is trading at 10390 down by 10 points.
Equity benchmark ended at record closing highs led by index heavyweights like Reliance industries and Hdfc bank. Sensex closed up by 109 points at 33266 and Nifty closed up by 40 points at 10364. It was a day of broader markets as the Midcap and Smallcap indices rallied more than 1%.
Global Market:
• Wall Street pulled back from record-high territory on Monday, weighed down by a drop in Merck shares and a report that US lawmakers are discussing a gradual phase-in of much-anticipated corporate tax cuts.
• Asian stocks were mostly sluggish on Tuesday following weakness on Wall Street, while the dollar sagged following news that investigators probing Russian interference in the 2016 US election.
Major Headlines of the day:
• Bharat Electronics
o BEL reports strong set of numbers for Q2FY2018
o Revenues up 45 percent at Rs 2476 crore
o Net profit up 19.1 percent at Rs 412 crore
o EBITDA up 75.8 percent at Rs 595 crore
o Margin at 24.0 percent from 19.9 percent
• IDFC Ltd announces the weak set of numbers for Q2FY2018. Revenue from operations fell 2 percent to Rs 2647 crore Net interest income down 22.7 percent at Rs 837 crore Net profit down 35.8 percent at Rs 181 crore. IDFC and Shriram Group: Called off merger as both parties were unable to agree on a mutually acceptable swap ratio
• Bain Capital is in advanced talks with Axis to invest between $750 million and $1 billion (Rs 4,800-6,400 crore), in what could be one of the largest private equity investments in the Indian banking sector.
Trend in FII flows: The FIIs were net buyers of Rs -186.04 the cash segment on Monday while the DIIs were net sellers of Rs 139.68 as per the provisional figures.
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Securities in Ban For Trade Date 31-OCT-2017:
1.IBREALEST
2.JSWENERGY
3.WOCKPHARMA
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Global market - Asian stocks were mostly inactive on Tuesday following weakness on Wall Street.
ReplyDeleteIndian market - The Indian rupee opened higher at 64.83 per dollar on Tuesday versus previous close 64.85.
Indian ADRs ended higher on 30 oct - ICICI Bank increased by 2.73 percent at USD 9.04 while HDFC Bank fell by 1.36 percent at USD 90.68.
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