INDIAN EQUITY MARKET OUTLOOK - 13 MAY 2016

INDIAN BENCHMARKS Gap down opening likely for D-Street

The Indian equity benchmarks are poised to open on a bearish note on Friday with traders likely to react negatively to dismal factory data showing a loss of momentum for Asia’s third biggest economy. SGX Nifty is trading 49.00 points down.

Industrial output ( IIP) in India fell by 0.1% in March 2016 from the same month a year ago while consumer inflation jumped to 5.4% in April 2016 from 4.83 per cent in March 2016.

Investors will eye the March quarter earnings numbers from Bank of Baroda, Cadilla Healthcare, Central Bank of India, Dena Bank, UCO Bank and Union Bank to be released today. Continued jitters over the impact of the India-Mauritius treaty that imposes a capital gains tax on investments coming from Mauritius may also weigh on sentiment.

Indian shares closed higher on Thursday, led by lenders such as ICICI Bank, after the country's upper house of parliament passed a new bankruptcy code to address corporate debts and improve the ease of doing business. The S&P BSE Sensex and CNX Nifty gained 0.75%-0.66% each today.

Global Markets:

Asian shares got off on the back foot on Friday, while the yen nursed losses as traders wagered the Bank of Japan will add to its massive stimulus before too long.

The Dow barely eked out a gain on Thursday as a slump in technology shares, highlighted by a steep slide in Apple, pressured the market, dragging the S&P 500 and the Nasdaq Composite lower.

European stocks fell on Thursday after a choppy session, weighed down by some disappointing earnings updates, while Bayer and BASF dropped on reports they could be interested in buying Monsanto.

Major Headlines of the day:

Bharti Airtel sets a benchmark of 1.5% for call drops for itself.

Nestle struggles to get out of the woods.

TVS Srichakra plans Rs160 crore capex.

Vu Tech to enter more cities, eyes Rs500 cr sales in FY17

Trend in FII flows:   The FIIs were net  sellers of  Rs -24.14 Cr in the cash segment on Thursday while the DIIs were net buyers of  Rs 258.35 Cr, as per the provisional figures.

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