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INDIAN EQUITY MARKET OUTLOOK – 14 JUNE 2017

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Global cues for D-Street on Wednesday;

Indian Indices:

The BSE Sensex opened higher by 44 points at 31147, while the Nifty50 opened higher by 15 points at 9621 mark. There are 827 advances, 590 declines and 513 unchanged stocks on NSE reflecting some positive bias floating in the market. Nifty50 index has immediate support placed around the level of 9,580 and if it holds below this level, further corrections up to the level of 9,550 is likely. On the upside, the level of 9,640-9,650 is likely to act as a resistance for the Nifty50, if it holds above the level of 9,640-9,650, it may scale up to the level of 9,700.

SGX Nifty signals negative opening: At 7 am on Wednesday, Nifty50 futures on the Singapore Stock Exchange were trading 20 points, or 0.21%, higher at 9,643, indicating some strength in the domestic market.

The central bank is scheduled to release its decision at 2 p.m EDT (1800 GMT) on Wednesday at the conclusion of its two-day policy meeting. Fed Chair Janet Yellen is due to hold a press conference at 2:30 pm EDT (1830 GMT).

There are 827 advances, 590 declines and 513 unchanged stocks on NSE reflecting some positive bias floating in the market. The level of 9,700 is likely to act as a strong barrier for the Nifty50. If it holds above the level of 9,700, a rally is likely up to the level of 9,730. On the downside, the support for Nifty50 index is placed in the region of 9,620-9,630.

Global Market:

Asian shares crept higher on Wednesday after Wall Street notched another all-time high, while the dollar and bonds awaited clarity on the Federal Reserve’s future path for U.S. policy after a likely rate rise later in the day.

The U.S. dollar fell as far as C$1.3209, its lowest since Feb. 28, having shed two cents in as many days. The U.S. Federal Reserve is widely expected to raise its benchmark interest rate this week due to a tightening labor market and may also provide more detail on its plans to shrink the mammoth bond portfolio it amassed to nurse the economic recovery.

Major Headlines of the day:

  • Reliance Communications-Reliance Communications-Brookfield tower deal likley to close by next month, Company said to approach Citic for sale of GCX business
  • Tata Motors-Appoints Girish Wagh as head of commercial vehicle business & member of executive committee.
  • Dr Reddy’s Laboratories-API manufacturing plant at Miryalaguda receives EIR from the US FDA, Miryalaguda manufacturing plant was issued Form 483 with 3 observati,

Trend in FII flows: The FIIs were net buyers of Rs –312.40 the cash segment on Tuesday while the DIIs were net sellers of Rs 304.58  as per the provisional figures.

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

1.HDIL

2.IBREALEST

3.INFIBEAM

4.JPASSOCIAT

5.KSCL

6.ORIENTBANK

7.RCOM

8.UJJIVAN

Commodity Market TipsMCX Copper TipsMCX TipsCrude oil tipsNifty Options Tips,Stock Market LiveFinancial Advisory Company in IndoreStock Advisory Company in Indore

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