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CAPITALSTARS- INDIAN EQUITY MARKET OUTLOOK – 17 APR 2018

capitalstars Equity market Outlook

Markets indicating a flat opening in line with Asian peers;

Indian Indices:     

Indian markets are expected to trade sideways witnessing a consolidation after rallying in the past 8 consecutive sessions. SGX Nifty is currently trading flat up 0.5 points at 10,547. Indian markets are expected to trade sideways witnessing a consolidation after rallying in the past 8 consecutive sessions. The underlying trend in the market for the near term continues to remain positive.

Asian stocks gain in morning trade- Asian markets opened higher. Stocks rose, tracking the overnight gains in the US stocks, as focus shifted to corporate earnings, reports Reuters.

Global Market:

  • Major Asian markets are trading marginally lower, Nikkei is down 0.19%, Hang Seng is down 0.74% while Shanghai Composite is trading 0.26% lower.
  • US Markets: Stocks moved noticeably higher in yesterday’s trading session. The Dow surged 0.9% to 24,573.04, the Nasdaq climbed 0.7% to 7,156.28 and the S&P 500 ended 0.8% higher at 2,677.84.
  • European markets closed in the red yesterday with the FTSE closing 0.92% lower, CAC ended down 0.04% while the DAX ended 0.41% lower.

Major Headlines of the day:

  • Fortis Healthcare raises Rs150 crore debt to stave off bankruptcy-  Fortis Healthcare Ltd, which is weighing multiple takeover offers for its assets, has got a Rs150 crore bridge loan from Rattan India Finance amid a credit squeeze. Meanwhile the board of Fortis Healthcare would meet on Thursday to consider options after the company became the target of rival takeover bids, reports Reuters.
  • Adani Ports in pact to offer LNG regasification services- Adani Ports and Special Economic Zone has signed an agreement with Indian Oil Corporation to provide liquefied natural gas (LNG) regasification services at its upcoming terminal at Dhamra in Odisha, reports Business Standard.
  • Uttam Galva offers to repay all its debt to banks- Debt-laden Uttam Galva Steels Ltd offered to repay its creditors in full, after its previous offer to pay back 51% of its dues was rejected last week. The steelmaker also sought time to arrange the funds.
  • Railways to spend Rs9,000 crore in 3 years on new wagons- The Indian Railways will spend Rs9,000 crore over the next three years to procure new wagons as it seeks to beef up its goods transportation services, reports The Economic Times.

Trend in FII flows: The FIIs were Net Value of Rs 308 the cash segment Monday while the DIIs were Net Value of Rs 28 as per the provisional figures.

Securities in Ban For Trade Date 17-APR-2018:

1.BALRAMCHIN

2.IRB

3.JPASSOCIAT

4.RCOM

5.TV18BRDCST

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