Cautious opening on Dalal Street on mixed global cues

Cautious opening on Dalal Street on mixed global cues

Indian Indices:

Indian equity benchmarks are likely to witness a gap down opening on Wednesday tracking a bearish trend in Asia. SGX Nifty is trading at 6.50 points up.

Indian shares edged down on Tuesday as investors booked profit after a rally in the previous session, even as sentiment was supported by growing expectations that Britons will vote to remain in the European Union in this week's referendum. The S&P BSE Sensex and CNX Nifty fell 0.20%-0.23%.

On Tuesday (June 21, 2016), BSE SENSEX closed at 26812.78, down by 54.14 points, or by 0.2%, and the NSE Nifty ended at 8219.9, down by 18.6 points, or by 0.23%.

Global Market:

Asian stocks edged up on Wednesday as nervous investors counted down to Britain's make-or-break European Union referendum, while Federal Reserve Chair Janet Yellen's cautious tone on future rate hikes added to a subdued mood in markets.

European shares fell in early trading on Tuesday after a sharp rally in the previous session, with the market coming under pressure following a drop in mining and energy shares.

U.S. stocks closed slightly higher after trading within a narrow range Tuesday after Federal Reserve Chairwoman Janet Yellen cautioned that the U.K. leaving the European Union posed a risk while new polls showed support for the “stay” camp growing.

Major Headlines of the day:

·       SBI's ATM revenue jumps 47% to Rs 310 crore in FY16

·       Tata Power's arm acquires 30 MW solar project in Maharashtra.

·       Maruti to ramp up Baleno production, cut waiting period.

 Trend in FII flows: The FIIs were net buyers of Rs 484.66 Cr in the cash segment on Tuesday while the DIIs were net sellers of Rs -335.53 Cr, as per the provisional figures.

                   

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