Markets set to open lower as US bond yields soar higher;

Indian Indices:                               

SGX Nifty is currently trading in the red down 64 points at 10,555. Indian equities could trade with a negative bias as profit booking on account of April F&O expiry settlements along with plunging global markets could weigh in.

Benchmark indices were higher in pre-opening trade despite global weakness, with the Sensex rising 112.63 points to 34,729.27 and the Nifty climbing 1.90 points to 10,616.30. A gauge of world stocks tumbled on Tuesday, erasing early gains as US bond yields scaled the 3 percent threshold for the first time in four years, while oil prices reversed course after climbing above the USD 75 per barrel mark, said a Reuters report.

Global Market:

·       Major Asian markets are trading mixed, Nikkei is down 0.85%, Hang Seng is down 1.2% while Shanghai Composite is trading 0.43% lower.

·       US Markets: Stocks witnessed a big correction is yesterday’s session. The Dow Jones fell 1.74% to 24,024, while the Nasdaq slipped 1.75% to 7,007 as 10-year US Treasury yield continued to surge higher, breaching its important psychological level of 3% during the trade.

·       European markets ended higher with FTSE closing 0.36% higher, CAC ended up 0.1% while the DAX ended 0.17% lower.

Major Headlines of the day:

·        State Bank of India: The bank will issue & encash electoral bonds through its 11 authorised branches from May 1-10.

·        REI Agro, SBI, UCO Bank, Bank of Baroda - REI Agro to give Rs 10,800 crore jolt to bankers: DNA

·        Burmans of Dabur increase stake in Religare Enterprises to 9.9 percent: ET

·        ICICI Bank drops plan to sell housing finance Unit: BS

·        Tata Steel may dispute Liberty’s Bhushan bid: ET

·        Fortis Healthcare: IHH has submitted binding bids for Fortis and has proposed to inject Rs 650 crore at Rs 160 per share.

Trend in FII flows: The FIIs were Net Value of Rs 681 the cash segment Tuesday while the DIIs were Net Value of Rs 509 as per the provisional figures.

TODAY ON EARNING FRONT:- GHCL, IBREALEST, M&MFIN, ULTRACEMCO, WIPRO, STERTECH, ICICI LOMBARD, BAJAJ CORP, KSB PUMP.

Securities in Ban For Trade Date 25-APR-2018:

1.BALRAMCHIN

2.DHFL

3.GMRINFRA

4.WOCKPHARMA

Markets set to open lower as US bond yields soar higher;

Indian Indices:                               

SGX Nifty is currently trading in the red down 64 points at 10,555. Indian equities could trade with a negative bias as profit booking on account of April F&O expiry settlements along with plunging global markets could weigh in.

Benchmark indices were higher in pre-opening trade despite global weakness, with the Sensex rising 112.63 points to 34,729.27 and the Nifty climbing 1.90 points to 10,616.30. A gauge of world stocks tumbled on Tuesday, erasing early gains as US bond yields scaled the 3 percent threshold for the first time in four years, while oil prices reversed course after climbing above the USD 75 per barrel mark, said a Reuters report.

Global Market:

·       Major Asian markets are trading mixed, Nikkei is down 0.85%, Hang Seng is down 1.2% while Shanghai Composite is trading 0.43% lower.

·       US Markets: Stocks witnessed a big correction is yesterday’s session. The Dow Jones fell 1.74% to 24,024, while the Nasdaq slipped 1.75% to 7,007 as 10-year US Treasury yield continued to surge higher, breaching its important psychological level of 3% during the trade.

·       European markets ended higher with FTSE closing 0.36% higher, CAC ended up 0.1% while the DAX ended 0.17% lower.

Major Headlines of the day:

·        State Bank of India: The bank will issue & encash electoral bonds through its 11 authorised branches from May 1-10.

·        REI Agro, SBI, UCO Bank, Bank of Baroda - REI Agro to give Rs 10,800 crore jolt to bankers: DNA

·        Burmans of Dabur increase stake in Religare Enterprises to 9.9 percent: ET

·        ICICI Bank drops plan to sell housing finance Unit: BS

·        Tata Steel may dispute Liberty’s Bhushan bid: ET

·        Fortis Healthcare: IHH has submitted binding bids for Fortis and has proposed to inject Rs 650 crore at Rs 160 per share.

Trend in FII flows: The FIIs were Net Value of Rs 681 the cash segment Tuesday while the DIIs were Net Value of Rs 509 as per the provisional figures.

TODAY ON EARNING FRONT:- GHCL, IBREALEST, M&MFIN, ULTRACEMCO, WIPRO, STERTECH, ICICI LOMBARD, BAJAJ CORP, KSB PUMP.

Securities in Ban For Trade Date 25-APR-2018:

1.BALRAMCHIN

2.DHFL

3.GMRINFRA

4.WOCKPHARMA

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