Indian Indices:
After witnessing a good rally last week, the market may see volatile movements ahead of a truncated and expiry-laden week. HUL to be in focus after Kraft withdrew its takeover bid to Unilever after the latter had rejected the offer. Meanwhile, TCS' Board will meet on Monday to discuss the share buyback.
The market may see a subdued opening on Monday, indicated by trends on SGX Nifty, in a truncated, expiry week. Indian markets got off to a scintillating start courtesy HDFC Bank, as RBI removed it from FII purchase restriction. However, profit booking emerged at higher levels and the session ended off the day’s high.
The market may also look for cues on economic front as prospects of a GST rollout by July 1 brightened. The Council cleared the Compensation Bill.
However, crucial draft laws pertaining largely to central, integrated and state GST are yet to be finalised.
Global Market:
Asian markets were lower with stronger yen weighing on Japanese markets. Japan's exports rose in January at a slower pace than the previous month due to a decline in shipments to the US. The Nikkei was down over half a percent in early trades. Rest of Asian markets were also trading on the downside.
US, equities closed mixed on Friday, but managed another record close, while investors kept an eye on France's presidential election.
In Europe, markets were little changed on Friday, pausing for breath after a strong rally in the week, as investors digested economic data and more earnings reports. The FTSE 100 closed 0.30 percent higher, while the DAX ended flat.
Major Headlines of the day:
• BPCL says plan to raise up to Rs 2,000 crore via non-convertible debentures (NCDs) this financial year
• SBI merger may be delayed as banks yet to seek CCI approval
• Tata Teleservices in early talks to join RComm -Aircel-MTS combine
Trend in FII flows: The FIIs were net buyers of Rs 8,043.14 the cash segment on Friday while the DIIs were net sellers of Rs -5,631.99 as per the provisional figures.
Securities in Ban For Trade Date 20-FEB-2017:
1 IBREALEST
2 IFCI
3 JETAIRWAYS
4 CEATLTD
5 TV18BRDCST
6 HDIL
7 UNIONBANK
8 JINDALSTEEL
9 JPASSOCIATE
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