INDIAN EQUITY MARKET OUTLOOK - 9 Mar 2018
Asian markets opened in green. Stocks rose as prospects of easing political tensions in Korean peninsula sparked gains. Overnight, the US stocks closed higher. S&P 500 at 2,738 points is up 0.45%.
SGX Nifty is indicating a gap up opening for the Indian markets. Indian markets are expected to continue the positive momentum witnessed in the last session as geopolitical tension recedes, as North Korea offers to halt nuclear testing and news of potential US tariff exemptions
The domestic equity benchmark indices are likely to witness a positive opening today tracking gains in Nifty futures on the Singapore
Stock Exchange (SGX Nifty) and global cues bullish trend in the SGX Nifty Index Futures for March delivery, which was trading at 10,279.00,
up by 41 points or 0.40%, at 11:12 AM Singapore time, also signaled a positive opening for the domestic equity bourses
Asian markets are trading in the green at present. Nikkei is currently up 0.61 %, Hang Seng is trading 0.66% higher, while Shanghai Composite is trading flat down 0.05%.
US Markets: Stocks witnessed a volatile trading session before finally managing to end the session in the green. The Dow rose 0.4 % to 24,895.21, S&P 500 inched 0.5% to 2,738.97, while the Nasdaq closed 0.4% higher at 7427, up for the 5th consecutive session. The choppy trading seen for much of the day came as traders looked ahead to the release of the Labor Department's closely watched monthly jobs report on Friday..
European markets also closed in the green yesterday with the FTSE closing 0.63% higher, CAC ended 1.26% higher while DAX inched 0.89% higher.
Major Headlines of the day:
Direct tax collections surge 19.5% in April-February- Net direct tax collection in the April-February period of 2017-18 showed a robust 19.5% growth from the year-ago period to Rs7.44 trillion as a result of the government’s push to widen the tax base and boost revenue.
PNB seeks provisioning relief from Reserve Bank- Punjab National Bank (PNB) has requested the Reserve Bank of India to allow it to provide for losses in the Nirav Modi-Gitanjali Gems scam over four quarters instead of at one go as it expects to recover portion of the loaned funds.
HDFC revises CAMS stake sale deal with Warburg Pincus- HDFC Ltd has revised its stake sale plan in Computer Age Management Services Pvt. Ltd (CAMS) to Warburg Pincus and will now sell only 5.1% of holdings to the latter, HDFC said in a stock exchange filing.
Trend in FII flows: The FIIs were Net Value of Rs -364.80 the cash segment Thursday while the DIIs were Net Value of Rs 675.26 as per the provisional figures.
Securities in Ban For Trade Date 09-MAR-2018:
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