Capitalstars Updates: Flat opening seen on D-Street; SGX Nifty up 5 pts: 3 Nov 2017
Indian Indices:
Indian benchmark indices are likely to open flat on Friday, tracking muted cues from Nifty futures on the Singapore Stock Exchange and mixed trend across global peers. Banking stocks to be in focus. Equity benchmarks closed rangebound session flat with a negative bias on Thursday after investors digested the outcome of Federal Reserve policy meeting and focused on corporate earnings. SGX Nifty is trading @ 10460, + 5 points.13.
The key domestic benchmark indices ended the Thursday’s trading session on a subdued note as investors booked profits after indices scaled record highs in the previous trading session.Flat to a positive opening is likely for the Indian equity benchmarks today tracking the muted trend in Nifty futures on the Singapore stock exchange and mixed global cues. flat SGX Nifty Index Futures for November delivery, which were trading at 10,464, up by 9 points or 0.09,at 11:29 AM Singapore time, also signaled a flat opening for the domestic equity bourses today
Global Market:
• U.S. stocks eked out again in the final half hour of trading as investors reacted to details of the Republican plan to cut taxes & Powell nomination for Fed chairman
• Asian shares rose in early trade on Friday after U.S. stocks closed marginally higher @ record levels
Major Headlines of the day:
• Bharat Forge: North America Class 8 truck sales for October at 35,700 vs 13,674 last year (up 161% YoY and up 62% QoQ).
• Hindalco subsidiary Novelis reported better than expected results. It has also upped its full year guidance. It received $314 million (~2000crs) in cash giving up a 50% stake at Ulsan Aluminum.
• Glenmark
o Revenue up 1.4 % at Rs 2256 cr, PAT down 7.0 % at Rs 204 cr.
o EBITDA down 13.6 % at Rs 389 cr Margin at 17.2 % versus 20.2 %
• KSB Pumps
o Revenue up 24.5 % at Rs 200.5 cr. Net profit up 33.33 % at Rs 11.6 cr.
o EBITDA up 48 % at Rs 21.6 cr. Margin at 10.77 % versus 9.06 %.
• Jay Bharat Maruti: Revenue up 20.7 % at Rs 438 Cr. Net profit up 24.8 % at Rs 16.6 Cr. EBITDA up 22.35 % at Rs 41.6 Cr. Margin of 9.5 % versus 9.4 %.
• Lupin launched antibiotic gActiclate Tablets, which has a market size of $263 million in U.S
Trend in FII flows: The FIIs were Net Value of Rs 1032.88 the cash segment on Thursday while the DIIs were Net Value of Rs -456.51 as per the provisional figures.
UPCOMING-RESULTS:- EDELWEISS, HINDALCO, PNB, SCI, TITAN, TORRENT PHARMA, UCOBANK, UNICHEM LAB, UNION BANK, ZENSARTECH
Securities in Ban For Trade Date 03-NOV-2017:
1.HDIL
2.IBREALEST
3.JSWENERGY
4.WOCKPHARMA
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SBI, tata motors and other PSU companies are yet to announce its second quarter earnings. Public sector lender Punjab National Bank shares price regroup by 3.6 percent.
ReplyDeleteThe market air was remained positive as about 1,415 shares advanced against 992 declining shares on the BSE.
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