Nifty likely to retest 10,600, Stocks in the News: Biocon, Idea, Vedanta, Quess Corp, SBI

Indian Indices:                             The Nifty50 is expected to open lower on Tuesday following muted trend seen in other Asian markets. The index closed 67 points lower at 10,628 on Monday. Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 20.5 points or 0.19 percent. Nifty futures were trading around 10,593-level on the Singaporean Exchange.

Global Market:

·       Asian markets- Asian markets are higher today as Japanese and Hong Kong shares show gains. The Nikkei 225 is up 0.25% while the Hang Seng is up 0.10%. The Shanghai Composite is not trading.

·       US Markets: The Dow Jones Industrial Average fell 54.95 points, or 0.22 percent, to 24,713.98, the S&P 500 lost 2.33 points, or 0.09 percent, to 2,720.13 and the Nasdaq Composite dropped 15.82 points, or 0.21 percent, to 7,382.47.

·       European markets- European markets finished higher today with shares in France leading the region. The CAC 40 is up 0.98% while Germany's DAX is up 0.91% and London's FTSE 100 is up 0.70%.

Major Headlines of the day:

·        Biocon & Mylan receive USFDA nod for biosimilar Pegfilgrastim

·        A penalty of Rs 7 crore has been imposed on SBI under FEMA 1999

·        Bajaj Corp: The company participated in an analysts' call on June

·        Mahindra Holidays: IDBI Mutual Fund and Motilal Oswal will meet the company's management on June 5 and June 6

·        Sunteck Realty approves proposal to raise RFPIs limit from 24% to 49%

·        Indian Hotels: Multiple investors will meet the company's management in an investors' conference on June 5.

·        EClerx: Emkay, JM Financial, and Matthews International Capital will meet the firm between June 5 and June 19

·        PNB Housing Finance raises funds by issue of NCDs

·        Idea Cellular gets approval to increase FDI limit in company to 100%

·        Vedanta pays Rs 5,300 crore for acquisition of Electrosteel Steel

·        Tube Investments divested its entire shareholding in TI Absolute Concepts

·        NIIT signs landmark Learning and Development Partnership with Pitney Bowes

·       Bank of India files application with NCLT for initiation of corporate insolvency resolution process against Khaitan Electricals

Trend in FII flows:-  The FIIs were Net Value of Rs  +2354.03 in the cash segment MONDAY while the DIIs were Net Value of Rs  -712.41 as per the provisional figures.

Securities in Ban For Trade Date 05 JUNE 2018 :-

NONE

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