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INDIAN EQUITY MARKET OUTLOOK – 21 APR 2017

 

stock-market-news-today

Nifty opens above 9150, Sensex gains 100 pts on global cues; RIL leads

Indian Indices:

The market extended its previous day’s gains, with the Nifty reclaiming 9150 level on positive Asian cues, backed by banking & financials, FMCG and Reliance Industries. The 30-share BSE Sensex was up 110.76 points at 29,533.15 and the 50-share NSE Nifty gained 43.25 points at 9,179.65. About 754 shares advanced against 132 declining shares on the BSE. BSE Sensex opened higher by 153 points at 29575, while the Nifty50 opened higher by 43 points at the 9179 mark.

Bharti Infratel is the top Nifty gainer and Sun Pharma is the top Nifty loser. Infratel is trading higher by 3.25% at Rs 353.85 per share and Sun Pharma is trading lower by 1.55% at Rs 645.8 per share.

Nifty 50, going forward, needs to sustain above the level of 9,165 to extend its rally up to the levels of 9,200-9,220. On the downside, the level of 9,100 is an immediate support and the next support is placed around the level of 9,060.

Global Market:

U.S. equities spiked higher on Thursday’s trading session, as a couple of companies released their quarterly financials while U.S. treasury secretary Steven Mnuchin informed administration was close to a major tax reform.

Asian Markets opened in positive territory in Friday’s trading session following a strong finish in U.S. markets amid caution following a suspected terrorist shooting in Paris ahead of first round of presidential elections over the weekend.

As per market experts, with political uncertainty still a recurrent theme in Europe, the incredible rebound that the euro has staged may be utilised by longer-term bears to send prices lower.

Major Headlines of the day:

  • Tata Motors to export more than half of unsold BS3 stock.
  • Finance Ministry and RBI to issue guidelines for NPA Policy.
  • Hindustan Zinc posts 42% rise in Q4 profit at Rs 3,057 cr, margin expands 940 bps.

Trend in FII flows: The FIIs were net buyers of Rs  -169.84  the cash segment on Thursday while the DIIs were net sellers of Rs 8.82 as per the provisional figures.

UPCOMING RESULTS:  HDFCBANK,TATA METALLIC,ACC,TINPLATE.

Securities in Ban For Trade Date 21-APR-2017:

1.BHARATFIN

2.HDIL

3.IBREALEST

4.INDIACEM

5.INFIBEAM

6.IRB

7.JINDALSTEL

8.JISLJALEQS

9.JPASSOCIAT

10.JSWENERGY

11.RELCAPITAL

12.TV18BRDCST

13.UJJIVAN

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