INDIAN EQUITY MARKET OUTLOOK - 27 JAN 2017

A firm opening on D-Street; ITC, Wipro in focus

Indian Indices:

Indian markets are likely to open firm on mixed cues as domestic stocks resume trading after a one-day holiday yesterday, 26 on account of Republic Day. SGX Nifty is trading 23.50 points lower.

ITC, Wipro will be in focus as the former will declare its results, while the Street may react to Wipro's negative earnings that were declared on Wednesday

Indian shares closed at their highest in nearly three months on Wednesday, as financial stocks continued to rally on the back of quarterly results, while sentiment was aided by optimism ahead of the federal budget. The S&P BSE Sensex and CNX Nifty rose 0.95%-1% each.

Global Market:

Asian stock markets are mostly higher on Friday, though gains are modest following the mixed cues from Wall Street and higher crude oil prices. Some of the markets are closed for the Lunar New Year holidays.

European shares held around one-year highs on Thursday, supported by mergers and acquisitions-related optimism, with Johnson & Johnson's $30 billion deal to buy Actelion lifting shares in the Swiss biotech firm.

US stocks opened slightly higher on Wall Street a day after the Dow Jones industrial average closed above 20,000 for the first time.

Major Headlines of the day:

·Wipro to acquire Brazilian IT firm for $8.7 mn.

·Coromandel International's Q3 net profit grows by 38% at Rs 112 cr.

· Ashok Leyland Q3 net profit dips 13% to Rs 185.88 cr.

Trend in FII flows: The FIIs were net buyers of Rs  1,378.81 the cash segment on Tuesday  while the DIIs were net sellers of Rs 383.03  as per the provisional figures.

UPCOMING RESULTS:   ITC, COLPAL.BEL, INDIACEM, SUNDARAMFIN, JUSTDIAL, SPARC, TATACOFFEE.

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