SGX Nifty is currently trading in the red down 56 points. Indian markets could witness bit of consolidation after having rallied for the past four weeks. SGX Nifty is currently trading in the red, down 56 points. Indian markets could witness bit of consolidation after having rallied for the past four weeks. Today's action is expected to be more stock specific with Q4 results currently underway.
• Asian stocks were narrowly mixed on Monday, with Japan and South Korea getting off to a muted start after US markets posted Friday losses amid declines in technology stocks.
• US Markets: Stocks witnessed a correction in Friday’s session. The Dow dropped 0.8% to 24,462.94, the Nasdaq corrected 1.3% to 7,146.13 and the S&P 500 slumped 0.9% to 2,670.14.The weakness on Wall Street was mainly due to the steep correction seen in shares of Apple, with the tech giant dipping 4.1%.
• European Ended on a mixed note on Friday with the FTSE closing 0.53% higher, CAC ended up 0.39%, while the DAX ended 0.21% lower.
Major Headlines of the day:
• TCS bets on Business 4.0 to push digital revenue to over $5 billion this year
• Economic recovery on firm footing: RBI governor Urjit Patel
• True North in talks to buy 26% stake in Federal Bank’s NBFC
• Idea Cellular’s proposal for 100% FDI under consideration of DIPP
• L&T sells Bengaluru land parcel to Phoenix-CPPIB platform for Rs650 crore
Trend in FII flows: The FIIs were Net Value of Rs -21.02 the cash segment Fruday while the DIIs were Net Value of Rs 111.01 as per the provisional figures.
TODAY ON EARNING FRONT:- Bharat Financial, Delta Corp, Bharti Infratel and LIC Housing Financ.
Securities in Ban For Trade Date 23-APR-2018:
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