Sensex, Nifty flat in opening; oil retailers, banks decline; IT stocks gain
Indian Indices:
The Indian equity benchmark indices are set to open on a flat note today amid mixed cues from other Asian peers and muted trend in Nifty futures on the Singapore stock exchange.The Asian markets have opened on a mixed note in early trade on Thursday as the threat of imminent US military action in Syria rattled investors, Muted trend in the SGX Nifty Index Futures for April delivery, which were trading at 10,426, up by 8 point or 0.08%, at 11:28 AM Singapore time, signalled a flat opening for the domestic equity bourses.
Technology stocks outperformed benchmark indices, taking advantage of falling rupee. The Nifty IT index jumped 1.6 percent.Benchmark indices opened flat amid weak global cues and spike in crude oil prices, as investors await corporate earnings and macro data.The 30-share BSE Sensex was up 47.56 points at 33,988 while the 50-share NSE Nifty fell 17.40 points to 10,399.80.HCL Technologies, TCS, Tech Mahindra, ONGC, Tata Motors, Bajaj Auto and Bharti Infratel were early gainers. HPCL, BPCL and IOC fell up to 3 percent. Dr Reddy's Labs, Sun Pharma, ICICI Bank, Kotak Mahindra Bank and Alkem Labs were under pressure.
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| Capitalstars financial research pvt ltd |
Global Market:
• Major Asian stocks traded sideways on Thursday as investor confidence seen earlier in the week wavered overnight amid geopolitical tensions.• US Markets: US stocks fell on Wednesday after President Donald Trump taunted Russia on Twitter to “get ready” for a possible missile strike on Syria.
• European markets also ended in the red yesterday with the FTSE closing 0.13% lower, CAC ended down 0.56% while the DAX ended 0.84% lower.
Major Headlines of the day:
• A Bhushan Steel: NCLT reserves orders on resolution plan approval
• Biocon: Mylan and Biocon have sought to accelerate introduction of Adalimumab Biosimilar In EU.
• Binani Cement case Dalmia Bharat Group Company RPPL writes to RBI Governor, SBI Chairman, Committee of Creditors w.r.t Binani Cement, Dalmia Bharat Group reaches out to CVC showing concern over Binani Cement case, Dalmia asks RBI to examine Binani Cement case for violation of IBC process
• Tata Motors: Global wholesales at 1.53 lakh units in March.
• Larsen & Toubro: It has signed an MoU With BEL To Develop Defence Products
• Tata Sons: The company will form Tata Aerospace & Defence
• IDBI Bank: RBI Imposes Rs 3 crore penalty for non-compliance with IRAC Norms.
Trend in FII flows:
The FIIs were Net Value of Rs 362 the cash segment Wednesday while the DIIs were Net Value of Rs 111 as per the provisional figures.
Securities in Ban For Trade Date 12-APR-2018:
1.BALRAMCHIN
2.JETAIRWAYS
3.JPASSOCIAT
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