Markets expected to be volatile ahead of weekly bank expiry and result announcements;
Indian Indices:
Negative opening is likely for the domestic equity market today tracking weak cues from Nifty futures on the Singapore Stock Exchange and global peers.
weak SGX Nifty Index Futures for January delivery, which were trading at 10,626.50, down by 12.00 points or 0.11at 11:36 AM Singapore time, also signaled
a negative opening for the domestic equity bourses. Dalal Street investors would react to reports stating that the Economists, in a meeting with Prime
Minister, have recommended reimposition of the longterm capital gains tax on listed securities and equitylinked mutual funds.
On the stock front
Ø Focus will be on Tata Consultancy Services as the IT major will announce its earnings for OctoberDecember quarter on Thursday.
Moreover, IndusInd Bank, the private sector lender will announce its third quarter earnings today.
Ø Shares of State Bank of India will be in focus as the Country’s largest lender expects financial bidding process for resolution of 12 big stressed
accounts to be over by the end of this month.
Previous Day Roundup
Ø Benchmark indices settled flat on Wednesday as investors remained cautious ahead of key corporate earnings later this week and the federal budget
next month.
Global Market:
· Major Asian markets are trading in the red at present Shanghai Composite is down 0.08%, Hang Seng is down 0.13%, while the Nikkei is trading 0.34% lower.
· US markets: The major averages ended the day modestly lower, with the S&P 500 and the Nasdaq closing lower for the first time in 2018.
· European also closed mixed yesterday with FTSE up 0.23 %, CAX down 0.35% and DAX down 0.78%.
Major Headlines of the day:
· Private sector JSW Steel has reported its highestever quarterly crude steel production in the October December quarter of this fiscal at 4.11
million tonnes (MT). "JSW Steel reported 4.11 million tonne of crude steel production during Q3 FY 201718, 7 per cent growth over corresponding
quarter of FY 201617," the company said in filing to the BSE.
· The security solutions division of Godrej & Boyce is targetting the home segment to increase the vertical's turnover in the next three years, a top
official said as per the PTI report.
· The Cellular Operators Association of India (COAI) on Wednesday sought lowering of GST on telecom services and bringing
tax withholding rate to 1 per cent over discount that companies offer for sale of prepaid SIM cards to independent distributors, reported PTI.
Trend in FII flows: The FIIs were Net Value of Rs -572.26 the cash segment on Wednesday while the DIIs were Net Value of Rs 600.24 as per the provisional figures.
Securities in Ban For Trade Date 11-JAN-2017:
1.FORTIS
2.GMRINFRA
3.HDIL
4.IFCI
5.JETAIRWAYS
6.JISLJALEQS
7.JPASSOCIAT
8.RCOM
9.RELCAPITAL
10.RPOWER
11.WOCKPHARMA
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