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INDIAN EQUITY MARKET OUTLOOK – 15 FEB 2017

market-update

Flat to positive start likely on cards

Indian Indices:

Indian equities are set to open flat with positive bias on Wednesday amid looming fear that US Federal Reserve may hike interest rate in the next meeting. However, rally in crude prices, firm trading in fellow Asian markets and strong closing of the Wall Street in overnight trade may gave a lift to market sentiments.

Bullish trend in the SGX Nifty Index Futures for February delivery, which were trading at 8,835.00, up by 14 points or 0.16 per cent, at 10:52 AM Singapore time, also signaled a flat to higher opening for Sensex. Traders also awaited the outcome of the state election results for more clarity on the government’s capacity to revive stalled reforms, which will set future direction for markets.

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 investors will react to wholesale price index (WPI) data for January which spiked to 5.25 per cent compared with 3.39 per cent for the previous month and minus (-) 1.07 per cent for the same month of previous year.

The 30-share barometer index of Bombay Stock Exchange, Sensex closed at 28339.31, down by 12.31 points or by 0.04 per cent, and the NSE Nifty ended at 8792.3, down by 12.75 points or by 0.14 per cent.

Global Market:

European stocks were marginally shaky, poised to snap a 5 day gaining spree, as the corporate earnings season kicked into top gear across the region.

The US markets are having a flourishing trade. Janet Yellen, Chair of Fed on Tuesday said, waiting too long to raise interest rates would be unwise.

Asian markets are trading stronger following US gains as investors embraced Janet Yellen’s remarks.

Major Headlines of the day:

  • IL&FS Transportation Network announces re-financing of senior debtGIC leads race to buy 40% in DLF rental arm for Rs12,000 crore.
  • HPCL and Repco Home Finance fall over 5%.
  • Resonance Specialties has informed BSE that the company has entered into an agreement with Tata Consultancy Services, to avail its iON manufacturing solution.

Trend in FII flows: The FIIs were net buyers of Rs  -6.45 the cash segment on Tuesday while the DIIs were net sellers of Rs -3.20 as per the provisional figures.

UPCOMING RESULTS:  CESC, NESTLEIND, ASAHI INDIA.

Securities in Ban For Trade Date 15-FEB-2017:

1       BANKINDIA

2       CEATLTD

3       JETAIRWAYS

4       IFCI

5       JINDALSTEL

6       JPASSOCIAT

7       RCOM

8       UNIONBANK

9       WOCKPHARMA

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