Nifty likely to open flat; Asian stocks trade mixed

Indian Indices:                              The Nifty50 is expected to open flat-to-positive on Thursday following muted trend seen in other Asian markets. The index closed 106 points lower at 10,430 on Wednesday. Trends on SGX Nifty indicate a positive opening for the broader index in India, a gain of 26.5 points, or 0.25 percent. Nifty futures were trading around 10,447.50 on the Singaporean Stock Exchange. Trends on SGX Nifty indicate a positive opening for the broader index in India, a gain of 26.5 points, or 0.25 percent. Nifty futures were trading around 10,447.50 on the Singaporean Exchange.

Global Market:

·       Asian markets- Asian markets are lower today as Japanese and Hong Kong shares fall. The Nikkei 225 is off 1.16% while the Hang Seng is down 0.19%. The Shanghai Composite is not trading.

·       US Markets: The Dow Jones Industrial Average rose 52.4 points, or 0.21 percent, to 24,886.81, the S&P 500 gained 8.85 points, or 0.32 percent, to 2,733.29 and the Nasdaq Composite added 47.50 points, or 0.64 percent, to 7,425.96.

·       European markets- European markets finished sharply lower today with shares in Germany leading the region. The DAX is down 1.47% while France's CAC 40 is off 1.32% and London's FTSE 100 is lower by 1.13%.

Major Headlines of the day:

·        Tata Motors Q4 YoY: Consolidated profit down 50 percent at Rs 2,175 crore.

·        Binani Cement: Committee of creditors meeting scheduled for May 24 postponed.

·        Ramco Cements: Company posts Q4 net profit of Rs 108 crore

·        Shalimar Paints: Company approves Rights Issue worth upto Rs 300 crore

·        Indiabulls Housing Finance: Company approves raising of funds via issue of NCDs upto Rs 15,000 crore.

·        Godrej Industries: Company's Q4 consolidated net profit at Rs 199 crore against Rs 46 crore (YoY)

Trend in FII flows:-  The FIIs were Net Value of Rs  -311.11 in the cash segment WEDNESDAY while the DIIs were Net Value of Rs 789.78 as per the provisional figures.

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Securities in Ban For Trade Date 24-MAY-2018 :-

1.  BEML

2.  DHFL

3.  RCOM

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