Indian equity market open on a negative note

 

Indian Indices:                               

Indian equity market is likely to open on a negative note today tracking weak cues from other Asian 

peers and bearish Nifty futures on the Singapore Stock Exchange. Moreover,hawkish tone by RBI 

policymakers, as indicated by the minutes of the recent policy review may weigh on investors’  

sentiments. The minutes of the Monetary Policy Committee (MPC) released on Thursday indicated a 

rise in interest rates might just be round the corner in wake of rising inflation.

Weak SGX Nifty Index Futures for April delivery, which was trading at 10,537.00, down 51 points, or 

0.48%, at 11:28 AM Singapore time, also signaled a negative opening for the domestic equity bourses. 

Dalal Street investors will react to IMF chief Christine Lagarde comment who said she does not expect 

the pace of economic reforms in India to continue in an election year.

Global Market:

·       Major Asian markets are trading mixed, Nikkei is up 0.03%, Hang Seng is down 0.04% while Shanghai Composite is trading 0.39% lower.

·       US Markets: Stocks witnessed a correction in yesterday’s session. The Dow fell 0.3% to 24,664.89, the Nasdaq slipped 0.8% to 7,238.06 and the S&P 500 dropped 0.6% to 2,693.13.

·       European markets ended on a mixed note yesterday with the FTSE closing 0.16% higher, CAC ended up 0.21% while the DAX ended 0.19% lower.

Major Headlines of the day:

·        Thomas Cook: The company has purchased 4.4 percent in Travel Corporation of India.

·        Indian Metals & Ferro Alloys: Company gets Rs 123 crore notices for excessive mining.

·        ABG Shipyard: Liberty House UK moves NCLT to challenge resolution professional's decision

·        TCS: Q4 profit up 5.7 percent QoQ at Rs 6,904 crore, EBIT margin at 25.4 percent; approves 1:1 bonus

·        Cyient: Q4 net up 16.2 percent to Rs 121.5 crore

Trend in FII flows: The FIIs were Net Value of Rs -624.99 the cash segment Thursday while the DIIs were Net Value of Rs 448.61 as per the provisional figures.

TODAY ON EARNING FRONT:- IBULHSGFIN, SASKEN TECH, AMA,.BIOPAC

Securities in Ban For Trade Date 20-APR-2018:

1.BALRAMCHIN

2.IRB

3.JETAIRWAYS

4.JPASSOCIAT

5.RCOM

6.TV18BRDCST

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