Indian Indices:
SGX Nifty is trading with a positive uptick at 10517. Selling pressure in Banks & Auto stocks led to fall in Indian markets with nifty closing below 10450 (fall by 95 points ) & Sensex closing down by over 200 points at 33812.
Shrugging off firm cues from the global peers, the domestic equity benchmark indices are likely to witness a negative opening today, tracking weakness in Nifty futures on the Singapore Stock Exchange.
The SGX Nifty Index Futures for January delivery, which were trading at 10,527.50, down by 31 points or 0.29at 11:24 AM Singapore time, also signaled a negative opening for the domestic equity bourses
On the stock front
• Shares of Idea Cellular will remain in focus as the company announced that a meeting of the board of directors of the company will be held on 4 January 2018, to consider a proposal for fundraising through a preferential allotment, qualified institutional placement, rights issue or such other routes as the board of directors may determine to be in the best interests of the company.
• Shares of State Bank of India will remain in focus after the country’s largest lender cut lending rates by 30 basis points to 8.65 percent which is likely to benefit the home loan borrowers
• Shares of L&T will be on investors’ radar as its wholly owned subsidiary L&T Hydrocarbon Engineering has bagged a major order for crude distillation and vacuum distillation unit from HPCL, Visakhapatnam Refinery, and an extension to an ongoing contract for Reliance Industries, Jamnagar, both amounting to approximately Rs 2,100 crore
WALL STREET UPDATE
• US stock markets were closed on Monday, on account of New Year's Day.
PREVIOUS DAY ROUNDUP (DOMESTIC)
• Marking its lowest close in more than two weeks, Indian equity benchmarks ended the session lower on Monday.
Global Market:
• Major Asian markets are trading in the green at present Shanghai Composite is up 0.96%, while the Hang Seng is up 1.42%.
• US and European markets remained closed yesterday.
Major Headlines of the day:
• TVS Motor Company reported robust sales nos with a 39% increase in total sales at 2,56,909 units in December
• Adani, Neyveli Lignite & Sembcorp in the race to buy stake in GMR’s Power project
• Thermax wins Rs 327 crore order for a co-generation power plant.
• PVR opens three-screen multiplex in Ghaziabad taking its total tally to 603 screens at 132 properties in 51 cities. Also movie, Tiger Zinda Hai has earned a staggering Rs 423.6 crore worldwide till now
• Royal Enfield sales up 17% at 66968 Vs 57398. Nos are below street Estimates
Trend in FII flows: The FIIs were Net Value of Rs 325.91 the cash segment on Monday while the DIIs were Net Value of Rs -1300.31 as per the provisional figures.
Securities in Ban For Trade Date 02-JAN-2017:
1.HDIL
2.JPASSOCIAT
3.RCOM
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