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INDIAN EQUITY MARKET OUTLOOK – 14 FEB 2017

market-update

Indices signal bullish start on Dalal Street.

Indian Indices:

Indian shares are likely to witness a positive opening as the global markets look supportive with SGX Nifty trading 18 points higher

Indian equities are set to open higher on Tuesday, tracking firm cues from fellow Asian peers and strong closing of the Wall Street in overnight trade as investors remained optimist about tax reform by the newly elected President Donald Trump. The investors will react to Index of Industrial Production (IIP) data which contracted was 0.4 per cent year-on-year in December 2016 due to demonetisation led dip in consumer goods production.

Bullish trend in the SGX Nifty Index Futures for February delivery, which were trading at 8,836.50, up by 15.5 points or 0.18 per cent, at 10:55 AM Singapore time, also signaled a positive opening for Sensex. Adding to it, sustained buying by foreign portfolio investors may also support market as they rush to avail treaty tax benefit before April 01.

The 30-share barometer index of Bombay Stock Exchange, Sensex closed at 28351.62, up by 17.37 points or by 0.06 per cent, and the NSE Nifty was at 8805.05, up by 11.5 points or by 0.13 per cent.

Global Market:

Asian shares inched to 19-month highs on Tuesday as the potential for economic stimulus in the United States lifted the dollar, bond yields and Wall Street stocks.

European shares ended at their highest level in two weeks on Thursday, with some major companies such as France’s second-biggest listed bank Societe Generale and oil major Total advancing after their results.

President Donald Trump said on Monday the United States would be ‘tweaking’ its trade relationship with Canada, stopping short of calling for a major realignment in a development likely to please visiting Canadian Prime Minister Justin Trudeau.

Major Headlines of the day:

  • January CPI Inflation at 3.17%
  • GIC leads race to buy 40% in DLF rental arm for Rs12,000 crore
  • Union Bank denies having any talks with Dena Bank for possible merger
  • Tata Motors commences restructuring exercise of human resources

Trend in FII flows: The FIIs were net buyers of Rs  306.74 the cash segment on Monday while the DIIs were net sellers of Rs -171.70 as per the provisional figures.

UPCOMING RESULTS:  ABNUVO,ADANIENT,ADANIPORT,APOLLOHOSP,COX&KINGS,DLF,FORTIS,GORREJIND,HDIL,JINDALSTEEL,JISLJALEQS,KRBL,

MOIL,NATCOPHARM,PHOENIXLTD,REC,PRISMCEM,SIMPLEX,SPICEJET,SUNPHARMA,TATAMOTOR,TEXRAIL,VEDL.

Securities in Ban For Trade Date 14-FEB-2017:

1       BANKINDIA

2       CENTURYTEX

3       HDIL

4       IFCI

5       JINDALSTEL

6       JPASSOCIAT

7       ORIENTBANK

8       RCOM

9       UNIONBANK

10     WOCKPHARMA

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