INDIAN BENCHMARKS are likely to open on a flattish note as the global cues still look in holiday mood with SGX Nifty trading 3 points lower. Indian stocks erased early gains to weaken on Thursday in low volume trade, dragged down by financials and IT stocks after a central bank report raised concerns over corporate vulnerability and bad loans. The S&P BSE Sensex and CNX Nifty fell 0.04%-0.06% each. On Thursday, December 24, 2015, the 30-share Sensex ended at 25838.71, down by 11.59 points and the NSE Nifty closed at 7861.05, down by 4.9 points.
Global Markets:
• Asian stocks dip amid a lack of immediate directional cues in light year-end trade, although Japanese shares managed to rise following a rebound in crude oil prices from multiple-year lows
• Oil prices fell on Monday after the long Christmas weekend, with U.S. crudes defending a newly gained premium over internationally traded Brent contracts in quiet trading ahead of the end of the year.
Major Headlines of the day:
• Jaypee Group plans to sell entire cement portfolio
• CESC to sign PPA for 300 MW capacity with Kerala and Noida SEBs
• Max India gets court approval for demerger
Trend in FII flows: The FIIs were net sellers of Rs 112.03 Cr in the cash segment on Thursday while the DIIs were net buyers of Rs 8.05 Cr, as per the provisional figures released by the NSE.
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