Indian Indices:
Indian shares are likely to witness a flat to positive start on Thursday morning as the global markets look slightly supportive with SGX Nifty trading 6.50 points higher @9661.Indian equities are likely to start on cautious note on Thursday, tracking muted cues from Nifty futures on the Singapore Stock Exchange and mixed trading across Asian markets.
Back home, muted trend in the SGX Nifty Index Futures for July delivery, which were trading at 9,513.00, down by 5.50 points or 0.06 per cent, at 10:54 AM Singapore time, also signaled a flat opening for local bourses. In absence of any major trigger, investors keenly eyed the June quarter corporate earnings which will begin next week. The market is also anticipating rate cut by the Reserve Bank in its next meeting as June CPI inflation is expected to be around 1.5 per cent, says a media report.
On the corporate front, Vedanta will remain in focus after the government asked the company to make a buyback offer for Cairn UK’s 9.8 per cent equity in the company. Among others, HDFC will also see some movement as media report suggested that HDFC Property Fund is in advanced talks with buyers to sell its stake in The Windflower Resorts and Spa for about Rs 100 crore.
On Wednesday, the Indian equities ended tad higher in choppy trade, tracking mixed cues from Asian peers, as investor sentiment was spooked by escalating geopolitical tensions after North Korea launched a long-range ballistic missile yesterday.
The 30-share barometer SENSEX closed at 31245.56, up by 35.77 points or by 0.11 percent, and the NSE Nifty ended at 9637.6, up by 24.3 points or by 0.25 per cent.
Global Market:
Asian stocks were trading mixed as investors digested the Federal Reserve’s recent meeting ahead of a G-20 summit, while geopolitical tension also remained on traders mind after North Korea tested a long-range ballistic missile.
The Fed minutes showed that there is disagreement among policy makers on the timing of interest rate hikes and the timeframe for rolling back the multi-trillion-dollar investment holdings.
In the overnight trade, Wall Street ended mixed after returning from the Independence Day holiday as cautioned prevailed in the market ahead to the release of the Federal Reserve's latest meeting minutes.
Major Headlines of the day:
• Reliance Industries again overtakes TCS as the most valued Indian company.
• Zydus begins Phase-II trials for its new anaemia drug Zyan.
• Wipro Infrastructure Engineering partners with Israel Aerospace Industries.
• Mahindra Finance to raise Rs 2,000 cr via NCDs to fund future lending.
Trend in FII flows: The FIIs were net buyers of Rs 227.57 the cash segment on Wednesday while the DIIs were net sellers of Rs 75.36 as per the provisional figures.
Securities in Ban For Trade Date 06-JUl-2017:
1.IBREALEST
2.JPASSOCIAT
3.JSWENERGY
4.UJJIVAN
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