Nifty open gap down; may retest 10,700 levels,: ITC, HDFC Bank, Tata Motors, Dr Reddy's Lab in news


Indian Indices:
            
                      The Nifty50 is likely to see a gap down opening on Friday weighed down by muted trend seen in other Asian markets. The Nifty50 closed 83 points lower at 10,768 levels. Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 48 points or 0.45 percent. Nifty futures were trading around 10,724- level on the Singaporean Exchange. The S&P and Nasdaq fell on Thursday as the technology sector snapped a rally while investors turned to safer bets as they kept an eye on global trade tensions and waited for US and European central bank meetings.

Global Market:

• Asian markets- Asian markets are lower today as Chinese and Hong Kong shares fall. The Shanghai Composite is off 1.15% while the Hang Seng is down 1.30%. The Nikkei 225 is not trading.

• US Markets: The Dow Jones Industrial Average fell 54.95 points, or 0.22 percent, to 24,713.98, the S&P 500 lost 2.33 points, or 0.09 percent, to 2,720.13 and the Nasdaq Composite dropped 15.82 points, or 0.21 percent, to 7,382.47.

• European markets- European markets finished lower today with shares in France leading the region. The CAC 40 is down 0.17% while Germany's DAX is off 0.15% and London's FTSE 100 is lower by 0.10%.


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Major Headlines of the day:


• HDFC Bank raises MCLR across tenors by 10 bps.

• Tata Motors proposes to raise up to USD 500 mn via ECB.

• Dr. Reddy's expects to launch generic Copaxone in H1 FY20 in US

• Indian Bank revised the marginal cost of funds based lending rates (MCLRs) with effect from              June 11, 2018

• Time Technoplast receives order worth Rs 40 crore

• PTC India: Sutirtha Bhattacharya appointed as the Independent Director on the Board

• ITC acquires Nimyle floor cleaner, forays into home care space

• Capital First debenture committee allots NCD worth Rs 100cr on private placement basis.


Trend in FII flows:-  The FIIs were Net Value of Rs  -525.40 in the cash segment THURSDAY while the DIIs were Net Value of Rs +1197.89 as per the provisional figures.

Securities in Ban For Trade Date 08-JUNE-2018 :-

1. DHFL
2. BALRAMPUR CHINI

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