Nifty likely to open lower; ITC, JSW Steel, Tata Steel to be in focus

Indian Indices:                             The market is likely to open sharply lower on Wednesday, tracking global weakness. The Nifty50 closed down 4.70 points at 10,801.90 on Tuesday. The SGX Nifty futures also indicated weak opening for the market as it was trading down 67.50 points at 10,758 on the Singaporean Stock Exchange. US stocks dropped sharply on Tuesday after Home Depot reported quarterly sales that fell short of Wall Street's expectations and interest rates breached new highs,

Global Market:

·       Asian markets- Asian markets are lower today as Japanese and Hong Kong shares fall. The Nikkei 225 is off 0.38% while the Hang Seng is down 0.54%. The Shanghai Composite is not trading.

·       US Markets: The Dow Jones industrial average fell 193 points to close at 24,706.41 while the S&P 500 declined 0.7 percent to 2,711.45 and the Nasdaq composite dropped 0.8 percent to 7,351.63.

·       European markets- European markets finished mixed as of the most recent closing prices. The CAC 40 gained 0.23% and the FTSE 100 rose 0.16%. The DAX lost 0.06%.

Major Headlines of the day:

·        Tata Steel’s resolution plan for Bhushan Steel approved

·        NTPC to take over power projects in Bihar.

·        Britannia Industries Q4 profit rises 25%.

·        PNB posts record Rs13,417 crore loss.

·        Allahabad Bank divests CEO of all powers.

Trend in FII flows:-  The FIIs were Net Value of Rs  -518.47 the cash segment TUESDAY while the DIIs were Net Value of Rs 531.33 as per the provisional figures.

TODAY ON EARNING FRONT:-   PRATAP SNACKS, SAYAJI IND, BIRLA CORP, TATA STEEL, TVS MOTORS, NESCO, AXIS BANK, ALEMBIC PHARMA, AARTI DRUGS, MUTHOOT FIN, JK LAXMI CEMENT, JSW STEEL, ITC, DB CORP, HINDALCO

Securities in Ban For Trade Date 16-MAY-2018 :-

1. DHFL
2. JETAIRWAYS
3. JPASSOCIAT
4. JUSTDIAL
5. PCJEWELLER
6. WOCKPHARMA

Get more details here:-

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