CAPITALSTARS MORNING MAIL UPDATE - 04 JUN 2018

Nifty likely to open above 10,700, Dr Reddy's Labs, Petron Engg, Whirlpool India, Cadila, Biocon, in news

Indian Indices:                             

The Nifty50 is expected to open higher on Monday following 

positive trend seen in other Asian markets. The index closed 39 

points higher at 10,696 on Friday. Trends on SGX Nifty indicate a 

positive opening for the broader index in India, a gain of 44 points 

or 0.41 percent. Nifty futures were trading around 10,723.50- 

level on the Singaporean Stock Exchange. Wall Street stocks rose 

on Friday after the latest monthly jobs report pointed to strength 

in the US economy and geopolitical tensions eased.

Global Market:

·Asian markets- Asian markets finished mixed as of the most 

recent closing prices. The Hang Seng gained 0.08%, while the 

Shanghai Composite led the Nikkei 225 lower. They fell 0.66% and 

0.14% respectively.

·US Markets: In the week ended June 1, the Nasdaq Composite 

rallied 1.62 percent and the S&P 500 gained 0.48 percent but the 

Dow Jones shed 0.48 percent.

·European markets- European markets finished broadly higher on 

Friday with shares in France leading the region. The CAC 40 is up 

1.24% while Germany's DAX is up 0.95% and London's FTSE 100 

is up 0.31%.

Major Headlines of the day:

· Dr Reddy's Laboratories said the audit of API Srikakulam plant in Andhra Pradesh has been completed by the US Food and Drug Administration with zero observations.

·State Bank of India has hiked marginal cost of funds based lending rate (MCLR) by 10 bps across tenors effective June 1

·Kotak Mahindra Bank has hiked MCLR by 10-20 bps across tenors effective June 1, one-year MCLR has been hiked by 20 bps to 8.90 percent

·Punjab National Bank has raised MCLR by 10 bps effective June 1

·ICICI Bank has raised MCLR by 10 bps effective June 1

·Karnataka Bank raises deposit interest rates

·Mcleod Russel approves buyback of equity sjares at Rs 210 per share

·HDFC has raised retail prime lending rates by 10 bps effective June 2

·Idea Cellular: The company is seeking shareholder nod for issue of non-convertible securities of about Rs 15,000 crore. It is also seeking shareholder nod for change in the name of company to Vodafone Idea

·Hero MotoCorp: May total sales rose 11 percent year-on-year at 7.06 lakh units

Trend in FII flows:-  The FIIs were Net Value of Rs  -202.80  in the cash segment FRIDAY while the DIIs were Net Value of Rs 337.97 as per the provisional figures.

Securities in Ban For Trade Date 04-JUNE-2018 :-

 NONE

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