Indian Indices:
The domestic equity benchmark indices are likely to open on a negative note today tracking weak Nifty futures on the Singapore Stock Exchange and global peers. Bearish trend in the SGX Nifty Index Futures for December delivery, which were trading at 10,451.00, down by 18 points or 0.17% at 11:26 AM Singapore time, also indicated a lower opening for the domestic equity bourses.
Moreover, shares of IndusInd Bank will be in focus as CCI has approved the scheme of amalgamation between IndusInd Bank and Bharat Financial Inclusion. However, the scheme is yet to receive regulatory approvals. Further, Housing Development Finance Corporation (HDFC) will also remain in limelight after the company’s board approved a proposal to raise Rs 13,000 crore by selling 5% equity shares to institutional investors.
On the economy front
Ficci's quarterly survey on manufacturing indicated slightly less optimistic outlook for the manufacturing sector for October ¬ December quarter, which may weigh on manufacturing companies. Sugar stocks are likely to remain on investors’ radar as the government has withdrawn stock holding and turnover limits on sugar dealers with immediate effect.
On the corporate front
Shares of Tata Steel will remain in focus after steel major said that its board has approved raising Rs 12,800 crore through a rights issue to finance organic and inorganic growth plans.
PREVIOUS DAY ROUNDUP (DOMESTIC)
The Indian equities continues gaining streak on Tuesday, tacking firm cues from Asian peers, led by gains in automobile, consumer durables, metal, pharmaceutical and infrastructure companies.
Global Market:
• Wall Street Retreating from records on Tuesday, Wall Street finished lower as investors remain wary as the Republican tax bill moved closer to passage. The US House of Representatives approved the long¬awaited Republican tax cut bill. The Dow Jones Industrial Average fell 37.45 points, or 0.15 to 24,754.75 and the S&P 500 lost 8.69 points, or 0.32%, to ,681.47.
• Asian markets trading mostly lower on Wednesday tracking overnight losses on Wall Street as investor remained wary,
awaiting tax reform as the Republican tax bill moved closer to passage.
Major Headlines of the day:
• State-owned Indian Bank will raise up to Rs 7,000 crore through various means, including a follow on public offer (FPO), in the current fiscal and the following years. The bank said the proposal has been okayed by the board.
• Banking services provider AU Small Finance Bank signed a memorandum of understanding with Sahaj e Village for extending its banking services in remote areas through business correspondent (BC) model
Trend in FII flows: The FIIs were Net Value of Rs -407.83 the cash segment on Tuesday while the DIIs were Net Value of Rs 357.40 as per the provisional figures.
Securities in Ban For Trade Date 20-DEC-2017:
1.FORTIS
2.HDIL
3.JETAIRWAYS
4.JPASSOCIAT
5.JSWENERGY
6.TV18BRDCST
7.WOCKPHARMA
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