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INDIAN EQUITY MARKET MORNING UPDATE – 12 OCT 2017

market update

Mkts break 3-day gaining streak; Nifty below 10K;

Indian Indices:

Key benchmark markets logged modest losses in volatile trade led by slide in bank stocks.

S&P BSE Sensex, fell 90.42 points or 0.28% to settle at 31,833.99. The Nifty 50 index fell 32.15 points or 0.32% to settle at 9,984.80.

The Sensex and the Nifty, both declined in afternoon trade after hitting their highest intraday levels in more than two weeks in morning trade. SGX Nifty indicating a positive opening for the Indian markets. With the gains on the day, the major averages climbed to new record closing highs. The modestly higher close on Wall Street came following the release of the minutes of the Federal Reserve’s latest monetary policy meeting, which indicated a ‘Dovish’ stance on rates going ahead.

Global Market:

  • US stock index futures poised for a lower opening on the Wall Street on Wednesday.
  • Spanish stocks outperformed a lackluster European market on Wednesday as Catalonia’s leader stopped short of declaring formal independence from Spain, allaying fears over a constitutional crisis in the region and boosting shares in banks.
  • A broad index of Asian shares touched a decade-high on Wednesday, taking cues from signs of confidence in the U.S. Meanwhile, the euro held onto overnight gains after Catalonia held back on an outright declaration of independence.

Major Headlines of the day:

  • Adani Transmission rose 4.86%, on BSE after the company said that ICRA has assigned [ICRA]A+ rating for the commercial paper programme of Rs 1000 crore of the company.
  • Bharti Airtel gained 5.04%, on BSE after the company announced the partnership with device manufacturers to offer 4G smartphones for the price of a feature phone.
  • Gujarat Borosil surged 5.35%, on BSE after the company opened its new glass melting and production facility for 2mm fully tempered solar glass.

Trend in FII flows: The FIIs were net buyers of Rs 5489.27 the cash segment on Tuesday while the DIIs were net sellers of Rs 5597 as per the provisional figures.

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

1.BEML

2.DHFL

3.IBREALEST

4.JSWENERGY

5.RCOM

6.RELCAPITAL

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