Indian Indices:
The Indian equity benchmark indices are likely to witness a negative opening today, tracking negative cues from Nifty futures on the Singapore Stock Exchange and weak trend across the global markets.Bearish trend in the SGX Nifty Index Futures for February delivery, which was trading at 10,376.50, down by 29 points or 0.28 per cent, at 10:52 AM Singapore time, also signaled a negative start for local bourses. In lack of any major economic event and ending of earnings season, all eyes will on global cues and February F&O expiry which will set direction for Indian equities this week. The banking stocks will remain in focus as the department of financial services has asked all banks to integrate their Core Banking System with the SWIFT and implement a rotation policy for staffers in wake of PNB fraud incident.
On the Stock front
• Shares of Gitanjali Gems will remain in limelight as the company’s director and two executives resign, taking moral responsibility. Adding the woes, Punjab National Bank has asked Gitanjali Group companies to pay "outstanding" dues amounting to Rs 1,045.88 croreGitanjali Gems said in a regulatory filing.
• Shares of Bhushan Steel may also see some movement as Tata Steel, JSW Living and a consortium of the company's own employees have submitted bids to take over the assets of debt laden steel maker.
PREVIOUS DAY ROUNDUP (DOMESTIC)
• The Indian equities ended lower on Monday, undermining firm cues from Asian peers, led by selling in index heavyweight such as
Tata Steel, SBI, Asian Paints, Dr. Reddy's Laboratories, Adani Ports and L&T.
Global Market:
• Major Asian markets are also trading in the red at present. Nikkei is currently down 1.22%, Hang Seng is trading 0.63% lower, while the Chinese markets continue to remain shut.
• US Markets: Wall Street remained shut in yesterday’s trade on account of Presidents Day holiday, though the US stock futures were trading lower on Monday after Friday’s positive closing.
• European markets also closed in the red yesterday with FTSE down 0.65%, CAX was down 0.48% and DAX closed 0.54% lower.
Major Headlines of the day:
• IndiGrid Trust-Investment in power transmission asset of Techno Electric and Engineering Company Limited, Completed acquisitions of 3 units from Sterlite Power Grid Ventures Limited.
• Fortis Healthcare clarifies-On reports of SEBI & SFIO investigations against company & Religare Enterprises, Got no communication, written or otherwise, from government on probe.
• Religare Enterprises says raising of funds through issue of warrants for preferential issue by issuing 17.5 crore warrants at Rs 52.2 per share.
• Sun Pharma's wholly owned subsidiary buys additional shares in Ranbaxy Malaysia Sdn Bhd, post completion stake will increase to 90.74 percent, 63 Moons, NSEL merger case another hearing on April 18.
Trend in FII flows: The FIIs were Net Value of Rs -895.79 the cash segment Monday while the DIIs were Net Value of Rs 586.52 as per the provisional figures.
Securities in Ban For Trade Date 20-FEB-2018:
1.BALRAMCHIN
2.DISHTV
3.FORTIS
4.GMRINFRA
5.HDIL
6.JISLJALEQS
7.JPASSOCIAT
8.ORIENTBANK
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