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CAPITALSTARS – INDIAN EQUITY MARKET OUTLOOK – 12 JAN 2018

capitalstars Equity market Outlook

Markets expected to open in the green on the back of strong global cues;

Indian Indices:

Benchmark indices are open at record high on Thursday as investors remained optimistic ahead of Infosys earnings later today and the federal budget next month. The domestic equity market is likely to witness a positive opening today tracking firm Nifty futures on the Singapore Stock Exchange and strong cues from global markets.

Bullish trend in the SGX Nifty Index Futures for January delivery, which were trading at 10,691, up by 33.50 points or 0.31at 11:34 AM Singapore time, also signaled a positive opening for the domestic equity bourses. Dalal Street investors would react to Q2FY18 earnings numbers of India’s largest software company, Tata Consultancy Services (TCS) as net profit dropped 3.9% YoY to Rs 65.45 billion, while its revenues rose at higher­ than expected rate of 2.7% to Rs 317.7 billion driven by large deals and increasing contribution in digital verticals from clients such as Nielsen and Rolls Royce. Moreover, investors’ focus will be on Infosys’ Q3FY18 earnings scheduled to be released today.

Wall Street Update

  • Wall Street closed at record highs on Thursday supported by rising crude oil prices that lifted energy stocks and investors bet on a upbeat U.S. corporate earnings season.

Previous Day Roundup

  • The Indian equities closed higher, paring early losses, tracking muted cues from Asian peers, as investors remained wary ahead of beginning of the corporate earnings result.

Global Market:

  • Major Asian markets are trading in the green, at present Shanghai Composite is up 0.08%, Hang Seng is up 0.39%, while the Nikkei is trading flat 0.05% lower.
  • US markets: The major averages ended the day on a strong note closing at the high point of the session.
  • European closed mixed yesterday with FTSE up 0.19 %, CAX down 0.29% and DAX down 0.59%.

Major Headlines of the day:

  • Indian Oil Corp (IOC) bought its third shipload or cargo of US crude oil as it looks at cheaper alternatives that have emerged due to the global supply Glut.
  • Indiabulls Real Estate announced that it will acquire a prime commercial building in Gurgaon having a leasable area of 2.5 lakh sq ft for an undisclosed Amount.
  • Private sector lender IndusInd Bank today posted a 24.72 per cent increase in net profit to Rs.936.25 crore for the quarter ended on December 31, 2017.

Trend in FII flows: The FIIs were Net Value of Rs -623.63 the cash segment on Thursday while the DIIs were Net Value of Rs 770.02 as per the provisional figures.

Securities in Ban For Trade Date 12-JAN-2017:

1.FORTIS

2.GMRINFRA

3.HDIL

4.JETAIRWAYS

5.JINDALSTEL

6.JPASSOCIAT

7.RCOM

8.RELCAPITAL

9.RPOWER

10.WOCKPHARMA

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