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INDIAN EQUITY MARKET OUTLOOK – 11 AUG 2017

market update

Massive gap down start seen on D-Street; SGX Nifty down 109 pts

Indian Indices:

Indian shares are likely to witness a muted opening on Thursday morning as the global markets look subdued with SGX Nifty trading 6.50 points lower @9911

Indian shares are likely to witness a bearish opening on Friday morning as the global markets look subdued with SGX Nifty trading 109 points lower @9756.Indian equities are likely to extend losing streak on Friday, tracking weak cues from Nifty futures on the Singapore Stock Exchange and bearish trend across global markets. Back home, bearish trend in the SGX Nifty Index Futures for August delivery, which were trading at 9,762.00, down by 102.50 points or 1.05 per cent, at 10:50 AM Singapore time, also signaled a negative opening for local bourses.

According to market experts, the rising geo-political tensions between North Korea and the US have prompted investors to book profit in shares that have been on the rise in recent months. Investors will react to earnings report of SpiceJet after low-cost carrier recorded a record profit of Rs 175.23 crore in the quarter ended June, from Rs 149.03 crore in the corresponding period last year, a year-on-year growth of 18 per cent.

Banking stocks will remain in focus as country’s largest lender State Bank of India will release its first quarter earnings later today.

Among others, Cochin Shipyard, which received overwhelming response from investors for its initial share sale offer, will list its shares on the bourses today.

The 30-share barometer SENSEX closed at 31531.33 down by 266.51 points or by 0.84 per cent, while the NSE Nifty ended at 9820.25 down by 87.8 points or by 0.89 per cent.

Global Market:

US markets on Thursday: The Dow Jones Industrial Average index tanked 204 points, or 0.93%, to 21,844, while the S&P500 index declined 35.81 points, or 1.45%, to 2,438. The Nasdaq Composite decreased 135.46 points, or 2.13%, to 6,216.

MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.5% in its third session of declines, with Australia down 1.4%. South Korea’s Kospi dropped 1.3% in early trade. Japanese markets were closed for a holiday.

Hong Kong’s Hang Seng Index slipped 0.47% while mainland markets traded marginally higher. The Shanghai Composite added 0.08% and the Shenzhen Composite inched higher by 0.07%. The Korean won stabilised after tumbling overnight. The dollar fetched as little as 1,138.21 won in the Wednesday session compared to levels around the 1,127 handle earlier in the week.

Major Headlines of the day:

  • Bharti Airtel CEO sells stake worth Rs 5 crore in firm to Bharti Telecom.
  • United Breweries records 10% increase in Q1 profit to Rs 162 cr.
  • Adani Power Q1 net loss near doubles to Rs 454 cr.
  • Coffee Day Enterprises Q1 net profit rises 51% at Rs 27 crore.

Trend in FII flows: The FIIs were net buyers of Rs -1171.21 the cash segment On Thursday while the DIIs were net sellers of Rs 821.72 as per the provisional figures.

Upcoming Result :

ALKEM,ALBK,BANKBARODA,BPCL,CESC,CIPLA,GSPL,GGETANJALI,HINDALCO,JSWENERGY,MAXINDIA,ORIENTBANK,RAJESHEXPO,OIL,SBIN,REC,SUNTV,STAR,TVSMOTOR,UFLEX.

Securities in Ban For Trade Date 11-AUG-2017:

1.DLF

2.FORTIS

3.IBREALEST

4.JINDALSTEL

5.JISLJALEQS

6.JSWENERGY

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