Markets set to open lower; SGX Nifty down 18 pt;
SGX Nifty is trading 18 points down. The barometer 30-scrip Sensex zoomed over 200 points while the broader Nifty50 rose 52 points in the last trading day of calendar year 2017. Auto sales would be the first major cue in the New Year
The domestic equity benchmark indices are likely to witness a flat to negative opening today tracking lack of cues from global markets. Most of the global markets are closed today due to New Year Holiday. Dalal Street investors may react to China's manufacturing sector data that fell slightly in December.
The official Purchasing Managers' Index (PMI) released on Sunday fell to 51.6 in December, down from 51.8 in November.
Weaknessin the SGX Nifty Index Futures for December delivery, which were trading at 10,539, down by 19.50 points or 0.19%, at 11:26 AM Singapore time,signalled a flat to negative opening for the domestic equity bourses
On the stock front
Automobile stocks will remain in focus as major companies in this sector will announce their sales volume data for the month of December from today.
WALL STREET UPDATE
US stocks ended lower on the last trading day of the year 20017 on Friday weighed down by losses in technology and financial stocks.
PREVIOUS DAY ROUNDUP (DOMESTIC)
On the last trading session of 2017, the Indian equities ended on robust note with the benchmark Sensex rallying over 200 points and the NSE Nifty breaching 10,500 levels amid strong rally across PSU, technology, banking, FMCG and capital goods space.
Global Market:
•US stocks slide on final trading day of 2017.Technology companies, banks and health care stocks accounted for much of the market’s decline.US markets will be closed on 1st January 2018
•Asian Markets too will be closed on account of New year celebrations.
Major Headlines of the day:
•Cadila gets USFDA approval for Valacyclovir tablets, used to treat cold sores (herpes) and shingles. The drug shall be manufactured at groups formulation facility at Moraiya
•The government has provided over Rs 2257-cr fresh equity to Bank of India to help it meet the prescribed regulatory capital requirement.
•The government has provided over Rs 1375-cr fresh equity to UCO Bank to help it meet the prescribed regulatory capital requirement.
•Fortis Hospital accused of selling illegal fresh frozen plasma to Reliance and charged exorbitant prices for the blood, Haryana Government suspends blood bank and pharmacy licenses.
•Media Reports says that the microfinance industry is bracing to write off close to Rs 5,000 cr as bad loans on account of debt waiver schemes by state governments.
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