Asian stocks open mixed, Stocks in the news: Natco Pharma, SBI, Syndicate Bank, Sagar Cements, IOB

Indian Indices:                             The Asian stocks open mixed. Nifty50 which with a gap down managed to recoup a majority of its losses and closed flat with slight negative bias on Friday. The Nifty50 opened the week at 10,765.95 on Monday and closed at 10,767 on Friday. But, it hit a low of 10,633.15 on 5 June and a high of 10,818 on Thursday. For Friday, Nifty index opened negative but managed to hold on to its immediate support of 10,700 – 10,720 zones and recovered towards its crucial hurdle of 10,770-10,780 zones.

Global Market:

·       Asian markets- Japanese shares are higher today as the Nikkei 225 gains 0.64%. The stock markets in Hong Kong and Shanghai are closed at this time.

·       US Markets: The Dow Jones Industrial Average rose 75.12 points, or 0.3 percent, to 25,316.53, the S&P 500 gained 8.61 points, or 0.31 percent, to 2,778.98 and the Nasdaq Composite added 10.44 points, or 0.14 percent, to 7,645.51.

·       European markets- European markets finished mixed as of the most recent closing prices. The CAC 40 gained 0.03%, while the DAX led the FTSE 100 lower. They fell 0.35% and 0.30% respectively.

Major Headlines of the day:

·        Sagar Cements May standalone production up 15% at 1.84 lakh tone.

·        Indian Overseas Bank raises lending rate by 5-10 bps effective June 10.

·        Syndicate Bank raises one-year MCLR to 8.55% from 8.50.

·        Shoppers Stop's chief financial officer Vijay Jain resigned w.e.f. June 08, 2018.

·        Natco Pharma launches generic Posaconazole injection.

·        SBI to auction 12 bad accounts this month to recover over Rs 1325 crore.

·        PNB board approved to initiate the process to disinvest stake in PNB Housing Finance.

·        Seya Industries approved fund raising plans for expansion.

·        Jubilant Life Sciences issued commercial papers worth Rs 75 crore.

Trend in FII flows:-  The FIIs were Net Value of Rs  -222.5 in the cash segment FRIDAY while the DIIs were Net Value of Rs 459.44 as per the provisional figures.

Securities in Ban For Trade Date 11- JUNE-2018 :-

1.  BALRAMCHIN

2.  DHFL

3.  JETAIRWAYS

Get more details here:-

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