Muted start seen
on Dalal Street
Indian shares are likely to witness
muted opening as the global cues look unsupportive with SGX Nifty trading 4.50
points lower.
Indian Indices:
With speculation regarding Rajan’s
successor now over, and the person chosen to fill his shoes seen continuing his
legacy, Urjit Patel’s appointment as RBI governor will act as a positive
trigger for domestic stock markets.
Among key earnings slated for the
week ahead, NTPC and HPCL are scheduled to announce Q1 June 2016 results on
Monday, 22 August 2016. Aurobindo Pharma and Tata Power Company are scheduled
to announce Q1 June 2016 earnings on Tuesday, 23
Indian shares closed marginally
lower on Friday as global sentiment was subdued following comments by some U.S.
Federal Reserve officials, although gains in individual stocks such as State
Bank of India supported indexes. The S&P BSE Sensex and CNX Nifty fell 0.17%-0.07%
each.
The BSE SENSEX closed at 28077, down
by 46.44 points or by 0.17 per cent and the NSE Nifty ended at 8666.9, down by
6.35 points or by 0.07 per cent.
Global Market:
Asian shares slipped on Monday and
the dollar pulled away from last week's lows on expectations that a signal
might emerge from a Federal Reserve gathering this week in Jackson Hole,
Wyoming that the U.S. central bank is gearing up to hike interest rates.
The Federal Reserve is close to
hitting its targets for full employment and 2 percent inflation, the Fed's No.
2 policymaker said on Sunday in comments that did not address when the U.S.
central bank should next raise interest rates.
European stock markets fell on
Friday in their worst weekly loss since the middle of June, with storage tank
group Vopak slumping after its results while major bank stocks also weakened.
Major Headlines of the day:
·
Apollo
Tyres to invest Rs 1,700 cr in Chennai plant.
·
Sunil
Mittal re-appointed Chairman of Bharti Airtel for 5 years.
·
India's
tea exports rise marginally to 42 million kg.
Trend in FII flows: The FIIs were net buyers of Rs 409.94 Cr in the cash segment on Friday while the DIIs were net buyers of
Rs 106.19 Cr, as per the provisional figures.
