INDIAN EQUITY MARKET OUTLOOK – 21 MAR 2017
Flat opening on D-Street: D-Mart listing today
Markets poised to open flat with positive bias on Tuesday on sustained buying by foreign institutional investors (FIIs), tracking mixed cues from fellow Asian peers after Wall Street ended lower in overnight trade. SGX Nifty is trading 0.20 points higher.
Avenue Supermarts (D-Mart), which raised Rs1870-crore through initial public offering ( IPO), will remain in focus as it will list on stock exchanges today. Talking about economic, the Union Cabinet has approved four legislations required to implement GST which will be introduced in Parliament this week. Investors will keep an eye on IT bellwether HCL Technologies as it would buyback Rs3,500 crore of shares.
Indian shares snapped a two-session winning streak to end lower on Monday as software service exporters took a hit on concerns over a stronger rupee, and as investors took a breather after the NSE Nifty hit a record high last week. The S&P BSE Sensex and CNX Nifty dipped 0.44%-0.36% each
Sensex closed at 29518.74, fell by 130.25 points or by 0.44%, and the NSE Nifty ended at 9126.85, slipped by 33.20 points or by 0.36%.
Asian shares clung to their month highs early Tuesday while the dollar and US bond yields were on the back foot on the prospects of a less-hawkish Federal Reserve policy trajectory.
European markets closed down on Monday afternoon as investors focused on the potential impact that trade barriers could have on global growth.
Wall Street drifted lower on Monday as investors worried that President Donald Trump’s plan to cut taxes and boost the economy could take longer than previously expected. Oil fell as investors continued to unwind bets on higher prices.
Major Headlines of the day:
- Larsen arm wins Rs1656 crore contract from ONGC.
- Idea Cellular board approves merger with Vodafone India.
- Mahindra Lifespace fixes rights issue price at Rs292.
Trend in FII flows: The FIIs were net buyers of Rs 56.67 the cash segment on Monday while the DIIs were net sellers of Rs -536.21 as per the provisional figures.
Securities in Ban For Trade Date 21-MAR-2017:
CapitalStars Provides 2 Days Free Trial To Our Client…
Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
CapitalStars Investment Adviser: SEBI Registration Number: INA000001647