Nifty likely to open flat; Asia opens higher; Godrej Consumer, Jubilant Foodworks in focus

Indian Indices:                             The Nifty is expected to open higher on Tuesday following the positive trend seen in other Asian markets. The Nifty, which started with a gap on the higher side, reclaimed its crucial resistance level of 10,700 on Monday to close near its intraday high. The index closed 97 points higher at 10,715 on Monday. Trends on SGX Nifty indicate a flat-to-positive opening for the broader index in India. Nifty futures were trading around 10,756 on the Singaporean Exchange, 0.1 percent higher.

Global Market:

·       Asian markets- Asian markets are higher today as Japanese and Hong Kong shares show gains. The Nikkei 225 is up 0.31% while the Hang Seng is up 1.22%. The Shanghai Composite is not trading.

·       US Markets: The Dow Jones Industrial Average rose 0.39 percent to end at 24,357.32, while the S&P 500 gained 0.35 percent to 2,672.63. Earlier, the S&P 500 was up as much as 0.75 percent. The Nasdaq Composite added 0.77 percent to end at 7,265.21.

·       European markets finished broadly higher today with shares in Germany leading the region. The DAX is up 1.00% while London's FTSE 100 is up 0.86% and France's CAC 40 is up 0.28%.

Major Headlines of the day:

·        ICICI Bank: Q4 net profit falls 50 percent on jump in NPAs, in line with expectation. Brokerages maintain their rating but slashed their target price for ICICI Bank post Q4 results.

·        Pfizer: Company posts Q4 net profit at Rs 104.51 crore

·        Firstsource: Q4 net profit rises to Rs 92.8 crore

·        Axis Bank: The lender has allotted 28,260 shares of Rs 2 each under the ESOP scheme.

·        Balrampur Chini: The Board will meet on May 19, 2018 to discuss the financial results.

·        Lupin: Receives FDA approval for generic Temovate ointment, 0.05 percent

·        Unichem Labs: Receives ANDA approval from US FDA for Valsartan tablets, USP. These are used to treat high blood pressure and congestive heart failure.

·        Bharti Infratel: The company and Indus will likely invest Rs 3,500 crore capex for FY19 ahead of their merger.

Trend in FII flows:-  The FIIs were Net Value of Rs  -635.24 the cash segment MONDAY while the DIIs were Net Value of Rs 1037.23 as per the provisional figures.

TODAY ON EARNING FRONT:- ABB, ABCAPITAL, BLUEDART, GODREJCP, JUBLFOOD, SINTEX, SUNPHARMA ADVANCE, WHIRLPOOL, SKFINDIA

                     

Securities in Ban For Trade Date 08-MAY-2018 :-

1. BALRAMCHIN

2. IRB

3. JETAIRWAYS

4. JUSTDIAL

5. WOCKPHARMA

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