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Mkts likely to open higher; SGX Nifty up 34 pts – 11 OCT 2017

market update

Mkts likely to open higher; SGX Nifty up 34 pts;

Indian Indices:

Indian benchmark indices are likely to open higher on Wednesday, tracking firm cues from Nifty futures on the Singapore Stock Exchange and positive trend across global peers. SGX Nifty is trading @ 10070 up by 34 Points.

The barometer index, the S&P BSE Sensex, rose 77.52 points or 0.24% to settle at 31,924.41. The Nifty 50 index rose 28.20 points or 0.28% to settle at 10,016.95.

The Nifty settled above the psychological 10,000 mark. The market breadth, indicating the overall health of the market, was positive.

Global Market:

  • Stocks around the world rose on Tuesday as Wall Street eked out record highs ahead of earnings season.
  • Asian shares gained early Wednesday as Wall Street hits record and as Catalan fears ease.
  • Key data to watch in US today is FOMC minutes.

Major Headlines of the day:

  • A consortium led by PE firm KKR and Canada Pension Plan Investment Board, Abu Dhabi Investment Authority and GIC Singapore is in discussions to acquire Indus Towers, and telecom tower company Bharti Infratel for $11billion.
  • GM BREWERIES, Profit rose 45.5% to Rs 16 crore, Revenue rose 23.4% to Rs 385 crore, EBITDA up 56% to Rs 25 crore, Margin expanded to 24.8% from 18.4%.
  • PSP Projects bags order worth Rs 1575 crore from Surat Diamond bourses.
  • Jaguar Land Rover India reported 45% increase in sales for the first nine months of 2017 at 2,942 units.

Trend in FII flows: The FIIs were net buyers of Rs –504.82 the cash segment on Tuesday while the DIIs were net sellers of Rs 402.15 as per the provisional figures.

Securities in Ban For Trade Date 11-OCT-2017:

1.BEML

2.DHFL

3.IBREALEST

4.JPASSOCIAT

5.JSWENERGY

6.RCOM

7.RELCAPITAL

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