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CAPITALSTARS- INDIAN EQUITY MARKET OUTLOOK – 09 MAY 2018

capitalstars Equity market Outlook

Nifty likely to open lower; Asia opens mixed; Eicher Motors, Federal Bank, Union Bank in focus

Indian Indices:     

The Nifty on Tuesday ended 0.02 percent higher at 10,717.80. Day long consolidation in the price band of 10,760 to 10,690 followed by subdued closing led to end the session with a bearish body candle. Nifty 50 is expected to open lower on Wednesday following muted trend seen in other Asian markets. The Nifty50 closed 2 points higher at 10,717 on Tuesday. Trends on SGX Nifty indicate a flat to negative opening for the broader index in India, a fall of 16 points or 0.15 percent. Nifty futures were trading around 10,725-level on the Singaporean Exchange.

Global Market:

  • Asian markets- Shares of Asian markets were trading mixed after US President Donald Trump pulled out of the Iran nuclear deal. Japan’s Nikkei 225 declined 0.38 percent while South Korea’s benchmark Kospi was flat.
  • US Markets: The Dow Jones Industrial Average ended 0.01 percent higher at 24,360.21, while the S&P 500 ended down 0.03 percent to 2,671.92. The Nasdaq Composite added 0.02 percent to 7,266.90.
  • European markets- European markets finished lower today with shares in Germany leading the region. The DAX is down 0.28% while France’s CAC 40 is off 0.17% and London’s FTSE 100 is lower by 0.02%.

Major Headlines of the day:

  • SBI Life: Company posts net profit of Rs 396 crore for FY18 on one-time gain
  • Tata Global Beverages board meeting on May 11 to consider issue of NCD/debt securities on private placement basis.
  • Lupin submits new drug application for Etanercept Biosimilar in Japan, which is used to treat arthritis and psoriasis.
  • Dalmia Bharat likely to move Supreme Court in Binani Cement case, CNBC-TV18 reported.
  • Wockhardt Seeks Shareholders’ Nod For Raising more Capital Worth Up To Rs 1,500 crore
  • Vijaya Bank appoints Ramesh Kumar Miglani as chief financial officer.
  • Dewan Housing seeks Sebi’s nod to raise up to Rs 15,000-cr via NCDs

Trend in FII flows:–  The FIIs were Net Value of Rs  -97.15 the cash segment TUESDAY while the DIIs were Net Value of Rs 923.25 as per theprovisional figures.

TODAY ON EARNING FRONT:-  Eicher Motors, Arvind, Federal Bank, EID Parry, Jubilant Life, JSPL, Parag Milk Foods, Dhampur Sugar, Hikal

Securities in Ban For Trade Date 08-MAY-2018 :-

  1. BALRAMCHIN
  2. IRB
  3. JETAIRWAYS
  4. JUSTDIAL
  5. WOCKPHARMA
  6. DHFL

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