Markets likely to open in red; SGX Nifty down by 36 pts;

Indian Indices:                               

Indian Benchmark equity indices on Friday finished flat after a day of sedate trading, despite fresh global trade war fears. SGX Nifty is trading down 36 points. Lemon Tree Hotels to List On Exchanges Today; Issue Price: Rs 56

Global Market:

·       U.S. stock market ended the week with a deep selloff,  a drop of 2.3%, after President Trump threatened to escalate a confrontation with China over trade. No Key data in US today

·       Stocks in Asia fluctuated and U.S. equity-index futures rebounded as trade worries remained a key market driver, keeping risk appetite in check.

Major Headlines of the day:

·        A Lookout notice has been issued against Videocon promoter Venugopal Dhoot and Deepak Kochhar, husband of ICICI Bank chief Chanda Kochhar and promoter of NuPower.

·        Max India is in talks to buy the 47.5% stake that its South African partner Life Healthcare Group Holdings owns in hospital chain Max Healthcare for $450-540 million.If successful, that will take Max India’s stake up to 95%.

·        India began the process to acquire a fleet of around 110 fighter jets worth over USD 15 billion.At least 85 per cent of the aircraft will have to be made in India while 15 per cent of them can be in a flyaway condition.

Trend in FII flows: The FIIs were Net Value of Rs -524.85 the cash segment Friday while the DIIs were Net Value of Rs  1305.45 as per the provisional figures.

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