Flat opening seen for Indian markets

Flat opening seen for Indian markets

Indian Indices:

Flat opening on D-street mirroring weakness in the Asian shares as participants remain edgy on worries regarding a UK referendum that could push Britain out of the European Union. SGX Nifty is trading at 4.00 points lower.

The focus of investors now turns to Friday’s industrial output data for April 2016 which may offer further cues over the health of the country’s economy.

India's benchmark Sensex fell nearly 1% on Thursday, its biggest single-day fall in three weeks, as caution set in ahead of the US Federal Reserve meeting, while Infosys slumped on worries about its outlook. The S&P BSE Sensex and CNX Nifty fell 0.95%-0.84% each today.

Global Market:

Asian shares pulled back on Friday as investors sought refuge in safe-haven assets amid festering concerns over the June 23 referendum that could see Britain exit the European Union.

U.S. stocks pared earlier losses but ended in negative territory, snapping a three-day win streak as oil futures pulled back from 10-month highs.

European shares fell for a second straight day on Thursday, weighed down by weakness among commodities-related stocks, while Essentra plunged after a profit warning.

Major Headlines of the day:

·       RCom worst in telcos' call drop test at Hyderabad.

·       Tata Communications installs 8k ATM units across the country.

·       Visa Steel seeks shareholder nod for merger of joint venture firm.

 Trend in FII flows: The FIIs were net buyers of Rs 234.2 Cr in the cash segment on Thursday while the DIIs were net sellers of Rs -317.74 Cr, as per the provisional figures.

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