Indian Indices:
The Indian equity benchmark indices are likely to witness a gap down opening today tracking weak global cues and bearish Nifty futures on the Singapore Stock Exchange. weak SGX Nifty Index Futures for February delivery, which was trading at 10,320, down by 241 points or 2.28, at 11:18 AM Singapore time, also signaled a negative opening with a sharp cut for the domestic equity bourses.
Banking stocks will remain in focus as they have started raising interest rates even though RBI maintained a neutral stance in its recent policy review
On the Earning front
• Stock focus will be on ACC,BHARATFORGE,BHEL,CADILA,CESC,DRLALPATH,GLENMARK,GRANULES,GSPL,HEIDALBERG,MANAPPURAM,PETRONET,SAIL,RELCAP,TORRENTPHARMA,MUTHOOTFIN,PAGEINDUSTRIES,TATACOMM among others which will announce their December 2017 quarter earnings report today.
PREVIOUS DAY ROUNDUP (DOMESTIC)
Global Market:
• Major Asian markets are trading with deep cuts, at present Nikkei is down 3.33%, Shanghai Composite is trading 5.55% lower while Hang Seng is trading down 4.14%.
• US Markets: Wall Street witnessed another session of heavy sell-off with the selling pressure intensifying in the final hours of trade.
• European markets also closed in the red yesterday with FTSE down 1.52%, CAX was down 2.02% and DAX closed 2.69% lower.
Major Headlines of the day:
• Oil Minister Dharmendra Pradhan today said IOC and BPCL are both keen to acquire gas utility GAIL India Ltd, which as per the
extant policy needs to be split by separating gas transportation business from its marketing unit.
• The Union Cabinet approved offering of 60 oil and gas fields of ONGC and OIL in the second auction of Discovered Small Field round, reported PTI. Out of the 60 fields, 22 were discovered by Oil and Natural Gas Corp (ONGC), 5 belong to Oil India Ltd and 12 are relinquished fields/discoveries from blocks offered in bids rounds under New Exploration Licensing Policy (NELP) since 1999, an official statement said.
• Alkem Laboratories on Thursday has entered into an exclusive licensing deal with stem cell specialist Stempeutics Research to market latter’s osteoarthritis (OA) therapy Stempeucel in India.
Trend in FII flows: The FIIs were Net Value of Rs -2297.09 the cash segment Thursday while the DIIs were Net Value of Rs 2373.59 as per the provisional figures.
Securities in Ban For Trade Date 09-FEB-2018:
• FORTIS
• GMRINFRA
• HDIL
• JISLJALEQS
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