Flat opening expected on D-Street; SGX Nifty up 10 pts;
Indian benchmark indices are likely to open higher on Friday, tracking firm cues from Nifty futures on the Singapore Stock Exchange and positive trend across global peers. Markets across Asia were trading mostly higher after Wall Street ended mixed in overnight trade led by gains in technology companies including Facebook and Alphabet. SGX Nifty is trading at 10212 (Up 10 points) indicating a flat opening.
Equity benchmarks staged smart recovery on Thursday, with the Sensex rising nearly 400 points intraday, driven by value buying and short covering after yesterday's sell-off. Buying was seen across sectors despite mixed Asian cues.
· U.S. stocks rose on Thursday as technology stocks regained some of the ground they lost in the past week.
· Asian markets edged up in early Friday trade after U.S. markets finished higher on Thursday as investors stateside awaited developments regarding tax reform. Markets also awaited the release of trade data out of China for clues about the health of its economy.
· Key data to watch out today U.S. Initial Jobless Claims
Major Headlines of the day:
· GAIL awards contracts for laying 520 km pipelines from Dobhi to Durgapur.
· Cipla receives USFDA approval for ophthalmic drug.
· GMR-Megawide short-listed for $250m Philippine airport finance bid.
· Jet Airways Q2
o Revenue up 3 % at Rs 5,627 cr
o Net Profit down 91 % to Rs 50 cr
o Ebitda down 31 % at Rs 837 cr
o Ebitda margin at 14.9 % v/s 22.1 %.
· Lupin and Cadila Healthcare are recalling nearly 1.11 lakh units of Duloxetine capsules.
Trend in FII flows: The FIIs were Net Value of Rs -1075.62 the cash segment on Thursday while the DIIs were Net Value of Rs 926.68 as per the provisional figures.
Securities in Ban For Trade Date 08-DEC-2017:
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