Indian Indices:
The domestic equity benchmark indices are set to open higher today tracking gains Nifty futures on the Singapore stock exchange and firm global peers
SGX Nifty Index Futures for December delivery, which were trading at 10,259.50, up by 38 points or 0.37% at 11:24 AM Singapore time, also signaled a positive opening for the domestic equity bourses.
On the economy front, Dalal Street investors will react to the data on India’s current account deficit which more than doubled to 1.2% of the gross domestic product during July-September period as compared to 0.6% in the same period a year ago. On the stock front, shares of IndusInd Bank will remain in focus after the Reserve Bank of India imposed a monetary penalty of Rs 3 crore on the private sector lender for non-compliance with the
directions issued by the central bank on Income Recognition and Asset Classification (IRAC) norms and contravention of regulatory restrictions pertaining to non¬fund based (NFB) facilities.
Global Market:
• Asian markets edged higher in early trade on Thursday after the US Federal Reserve raised interest rates for the third
time this year after the conclusion of its two-day policy meeting yesterday, 13 December 2017.
• Moreover, the US Fed raised its GDP forecast from 2.1% to 2.5% and its inflation forecast from 1.6% to 1.7%.
• Investors are focussing on a meeting of the European Central Bank (ECB) on its interest rate decision
scheduled on 14 December 2017.
Major Headlines of the day:
• PNC Infratech today announced that financial closure has been achieved for a highway project in Karnataka. The company has received a letter from NHAI regarding the achievement of financial closure for the project of 'Six¬ Laning of Chitradurga-Davanagere including Chitradurga bypass of NH¬48' in Karnataka to be executed on Hybrid Annuity Mode under NHDP Phase-V, it informed BSE. The project is being implemented by PNC Chitradurga Highways, a special purpose vehicle incorporated by the company.
• Cholamandalam, a Murugappa Group firm, said that it will finance earthmoving and construction equipment for JCB India's customers, reported PTI.
Announcing the tie-up between the two companies, Cholamandalam Investment and Finance Company (Chola) said that as part of the agreement, it will finance JCB's entire range of construction equipment and machinery. It will also customise the products and offerings to suit the needs of JCB customers, Chola said in a statement.
Trend in FII flows: The FIIs were Net Value of Rs -578.65 the cash segment on Wednesday while the DIIs were Net Value of Rs -116.48 as per the provisional figures.
Securities in Ban For Trade Date 14-DEC-2017:
1.FORTIS
2.HDIL
3.IRB
4.JETAIRWAYS
5.JISLJALEQS
6.JPASSOCIAT
7.JSWENERGY
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