INDIAN EQUITY MARKET OUTLOOK - 15 JULY 2016

Bullish trend may continue at Dalal Street; Infosys Q1 earnings eyed

Indian Indices:

Indian equity benchmarks are poised to witness a gap up opening on Friday tracking a bullish trend across markets in Asia and a record finish at Wall Street overnight. SGX Nifty is trading at 34.50 points higher.

Indian shares rose marginally on Thursday after falling earlier in the session as investors remained watchful ahead of quarterly corporate results and an expected government announcement on who would take over as the country's next central bank chief. The S&P BSE Sensex and CNX Nifty rose 0.46%-0.53%  each

On Thursday (July 14, 2016), Sensex closed at 27942.11 up by 126.93 points or by 0.46%, while the NSE Nifty was at 8565.00 points, trading higher by 45.50 points or by 0.53%.

Global Market:

Asian shares extended gains to eight-month highs on Friday, on track for a solid weekly rise, as better-than-expected economic data from China lifted risk sentiment that was already buoyant after record highs on Wall Street.

European shares slipped from a three-week high on Thursday after the Bank of England surprised investors by keeping interest rates on hold.

US stocks extended their run into the record books Thursday as the Dow industrials and the S&P 500 notched new closing highs.

Major Headlines of the day:

·       Titan to acquire 62% shares in Carat Lane for Rs357 cr

·       Tata Consultancy Q1 net up 10.7%, beats estimates

·       Govt to form expert group to analyse iron ore sale by NMDC

 Trend in FII flows: The FIIs were net buyers of Rs 869.84 Cr in the cash segment on Thursday while the DIIs were net sellers of Rs -874.15 Cr, as per the provisional figures.

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