INDIAN EQUITY MARKET OUTLOOK - 29 Nov 2017

Sensex higher, Nifty eyes 10,400 despite North Korea missile launch

Equity benchmarks were mildly higher in opening trade, shrugging off North Korea's latest missile launch, and tracking positive Wall Street close.

The 30-share BSE Sensex was up 34.86 points at 33,653.45 and the 50-share NSE Nifty rose 16.90 points to 10,387.20.

About 896 shares advanced against 317 declining shares on the BSE.

Cipla, Coal India, NTPC, ONGC, Hindalco Industries and L&T were early gainers while Axis Bank and Tech Mahindra were under pressure.

Shares of Technofab Engineering has locked at 20 percent upper circuit on the back of order won worth Rs 281 crore.

The company has received new order in the domestic water sector valued at Rs 281 crore .The project is funded by Asian Development Bank.

This order gives a further impetus to the company’s standing in the water sector, soon after securing orders in Bhutan and Uganda, and recently completed projects in Tanzania and Zimbabwe, company said in press release.

Reliance Communications said it will sell its DTH arm Reliance BIG TV to Pantel Technologies and Veecon Media & Television, a move aimed at reducing debt.

The company has entered into a binding share purchase agreement with Pantel Technologies Ltd and Veecon Media & Television Ltd for sale of its subsidiary Reliance BIG TV Limited (RBTV), RCom said in a statement without disclosing the deal amount.

"The transaction will help reduce the liability of unsecured creditors, benefiting all stakeholders, including lenders and shareholders of RCOM. The transaction is in consonance with RCOM’s stated objective to focus on B2B businesses of the new RCOM,"

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