Nifty likely to open higher, Stocks in the news: ICICI Bank, ONGC, UltraTech, Vedanta

Indian Indices:
                         
                      The The Nifty50 is expected to open higher on Thursday following positive trend seen in other Asian markets. The index closed 18.95 points lower at 10,614 on Wednesday. Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 25 points or 0.24 percent. Nifty futures were trading around 10,656-level on the Singaporean Stock Exchange. The Nifty bounced back after hitting its 50-days DEMA placed at 10,562 on Wednesday to close above its crucial resistance level. The Nifty also witnessed a sharp recovery post 1pm; the index still closed in red but above its opening levels which made a bullish candle on the daily charts even though the Nifty closed nearly 19 points lower.

Global Market:

• Asian markets- Asian markets are broadly higher today with shares in China leading the region. The Shanghai Composite is up 1.05% while Hong Kong's Hang Seng is up 0.62% and Japan's Nikkei 225 is up 0.40%.

• US Markets: The Dow Jones Industrial Average rose 306.33 points, or 1.26 percent, to 24,667.78, the S&P 500 gained 34.15 points, or 1.27 percent, to 2,724.01, and the Nasdaq Composite added 65.86 points, or 0.89 percent, to 7,462.45

• European markets- European markets finished mixed as of the most recent closing prices. The DAX gained 0.93% and the FTSE 100 rose 0.75%. The CAC 40 lost 0.20%.

Capitalstars financial research pvt ltd

Major Headlines of the day:

• ICICI Bank-Videocon case: Bank calls for probe against Chanda Kochhar after another complaint

• Bhushan Steel: Firm reiterates that increase in share price or volume is purely due to market conditions.

• UltraTech Cement: The firm has received letter of intent from Binani Cement’s committee of creditors.

• ore and revenue was up 4% at Rs 78 crore

• Manpasand Beverages to begin its new facility in Khurda, Odisha

• Can Fin Homes board meeting on June 2 to consider fund raising funds by way of issue of equity shares through rights issue/ QIP / preferential issue to promoter.

• Granules India's US arm launches generic Methergine tablets.

• Blue Star expands range of water purifiers.

Trend in FII flows:-  The FIIs were Net Value of Rs  -1286.91 in the cash segment WEDNESDAY while the DIIs were Net Value of Rs 492.46 as per the provisional figures.


TODAY ON EARNING FRONT:-   BOMBAY POTTERIE, REIL ELECTRIC, HIMALAYA FOOD, BANARAS BEADS

Securities in Ban For Trade Date 31-MAY-2018 :- 

1. Balrampur Chini,
2. DHFL,
3. GMR Infra,
4. IDBI,
5. IDFC Bank,
6. JP Associates,
7. Just Dial and
8. Reliance Communications

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