Positive opening
seen for Markets
Indian Indices:
Indian equity benchmarks are set to
witness a gap up opening on Monday as optimism over Asia’s third biggest
economy bolsters risk taking appetite. SGX Nifty is trading at 40.00 points
higher.
Traders will eye the Services PMI
data and the start of the Q1 earnings season this week. The stock of SBI will
be in focus after the country’s biggest state-run lender sold 5 percent stake
in the national stock exchange for over Rs 900 crore.
On Friday (July 02, 2016), ending at
a fresh 2016 high, the 30-share Sensex climbed by 145.19 points or by 0.54% to
close at 27,144.91, while the NSE Nifty ended at 8328.35 up by 40.6 points or
by 0.49%.
Global Market:
Asian shares shrugged off early
losses and edged higher on Monday, while the Australian dollar was under
pressure after no clear winner emerged from a weekend election.
US stocks booked a fourth straight
daily gain Friday, and the Dow and S&P 500 marked their best week this year
as stocks clawed back some of the losses scored in the wake of the tumult that
followed the U.K.’s decision last week to sever ties with the European Union.
European shares rose on Friday,
lifted by expectations that the European Central Bank would take action to
support markets in order to ease worries about the fallout from Britain's vote
to leave the European Union.
Major Headlines of the day:
· IOC's
refinery at Gujarat to supply BS-IV compliant diesel from Jan.
· NTPC
commences socio-economic survey for Kaniha expansion.
· Wonderla
Holidays expects Chennai facility to be commissioned in FY19.
Trend in FII flows: The FIIs were net sellers of Rs -187.51 Cr in the cash segment on Friday while the DIIs were net buyers of
Rs 907.05 Cr, as per the provisional figures.
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