Sensex opens 100 points higher, Nifty reclaims 10,400

Sensex opens 100 points higher, Nifty reclaims 10,400; IT gains post rupee move;

 Indian Indices:

The domestic equity benchmark indices are likely to open on a positive note today despite mixed cues from global markets. firm SGX Nifty Index Futures for February delivery,which was trading at 10,430.50, up by 65 points or 0.63at 11:22 AM Singapore time, also signaled a higher opening for the domestic equity bourses.The domestic equity market is expected to remain volatile this week ahead of February F&O expiry due this Thursday.

The equity market has begun the day on a positive note, with the Sensex gaining over 100 points, while the Nifty reclaimed 10,400. The Sensex is up 168.98 points or 0.50% at 33872.57, while the Nifty is up 46.60 points or 0.45% at 10407.00. The market breadth is positive as 358 shares advanced, against a decline of 138 shares, while 81 shares are unchanged. In case of stocks, IT stocks are reacting positively to the rupee's depreciation. TCS and Infosys are among Sensex gainers. Coal India, Sun Pharma and ONGC are the top losers.

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On the Economy front

 Ø Union Cabinet yesterday approved a new law to ban unregulated deposits to prevent duping of gullible investors through Ponzi 

   schemes and approved changes to the chit fund law.

Ø Government approved the methodology for auctioning coal blocks for commercial mining by the private sector, a move that would end 

   monopoly of Coal India.

On the Stock front

Ø Shares of Eros International will remain in focus in today’s trade as Reliance Industries has agreed to acquire 5 per cent stake in media 

firm Eros International, through a subsidiary, for USD15share.

Ø Reliance and Eros International Media, part of Eros International have agreed to a jointly produce and consolidate content from across the country.

PREVIOUS DAY ROUNDUP (DOMESTIC)

Ø The Indian equities ended lower for the third straight session on Tuesday, paring early gains, tracking weak cues from Asian peers, 

  due to sharp selling in the final hour of the day’s trade.

 Global Market:

· Major Asian markets are also trading in the green at present. Nikkei is currently up 0.63%, Hang Seng is trading 0.93% higher while Shanghai Composite is up 0.45%.

 · US Markets: Major Indices showed a lack of direction over the course of the trading session on Tuesday before ending the session in the red. The Dow slumped 1% ending at 24,964.76, the Nasdaq edged down 5.16 points to 7,234.31 and the S&P 500 fell by 15.96 points closing at  2,716.26

·European markets also closed in the green yesterday with CAX was up 0.64% and DAX closed 0.82% higher while FTSE closed flat down 0.01%,

 Major Headlines of the day:

· Bank Of India-Gets shareholders' nod to issue fresh capital as tier-I/tier-II bonds for pref shrs for amount up to Rs 10,000 cr, Gets shareholders' nod to issue shares worth RS 6,975 cr to govt

· Reliance Industries, Eros International PLC, Reliance invests in 5% stake of Eros for USD 48.75mn, To set up 1000cr corpus to produce content.

· Max India, Max Healthcare, Company’s equal JV, life healthcare group holdings ltd initiates preliminary discussions with company to explore possibility of acquisition of Life healthcare, shares in max healthcare institute limited by the company.

Trend in FII flows: The FIIs were Net Value of Rs -850.35  the cash segment Tuesday while the DIIs were Net Value of Rs 1437.24 as per the provisional figures.

Securities in Ban For Trade Date 21-FEB-2018:

1.BALRAMCHIN

2.DISHTV

3.FORTIS

4.GMRINFRA

5.IFCI

6.JISLJALEQS

7.JPASSOCIAT

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