Pre Session: Gap down opening seen for Sensex, Nifty; cigarette stocks eyed
18/07/2017
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
Indian equities are likely to open lower on Tuesday, tracking bearish trend in Nifty futures on the Singapore Stock Exchange and weak trading across Asian markets. The Asian stocks were trading lower after Wall Street ended flat with negative bias in overnight trade as investors remained sidelined ahead of a busy earnings week from big US companies. Back home, bearish trend in the SGX Nifty Index Futures for July delivery, which were trading at 9,915.00, down by 29.50 points or 0.30 per cent, at 10:43 AM Singapore time, also signaled a negative opening for local bourses. On the economy front, investors will keep an eye on the progress of the monsoon session of Parliament, which is feared to be washed away due to issues of cow vigilantism, farmers’ protests, unrest in Kashmir and India’s stand-off with China, says ET report. On the corporate front, cigarette making companies will remain in focus as the government has hiked the cess on cigarettes to compensate manufacturer losses from lower GST rates. SBI Life Insurance, a joint venture (JV) between the State Bank of India (SBI) and BNP Paribas Cardif, has filed its draft red herring prospectus with the Sebi to raise up to Rs 7,000 crore through initial public offering (IPO) of equity shares. On the earnings front, more than ten companies will announce their June quarter results today, which include, UltraTech Cement, Jubilant Life Sciences and CRISIL.
On Monday, the Indian equities kicked-off week on positive note, with 50-shares Nifty closing above 9900 for the first time ever, tracking firm cues from Asian peers. IT and Teck stocks ended higher helped by rally in index heavyweights such as Infosys and Wipro. Infosys shares ended up over 1 per cent after IT major reported a 3.3 per cent year-on-year drop in net profit at Rs 3,483 crore for the first quarter ended June 30, 2017. The company, however, continued to maintain its constant currency revenue growth guidance of 6.5 to 8.5 per cent. Wipro emerged as top gainers after the company announced that its board would consider share buyback. The 30-share barometer SENSEX closed at 32074.78, up by 54.03 points or by 0.17 per cent, and the NSE Nifty ended at 9915.95, up by 29.6 points or by 0.3 per cent.
Top traded Volumes on NSE Nifty were ITC Ltd. 20320210.00, ICICI Bank Ltd. 12506474.00, Vedanta Ltd. 10643668.00, State Bank of India 10549310.00, Hindalco Industries Ltd. 9977809.00.
18/07/2017
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
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Indian equities are likely to open lower on Tuesday, tracking bearish trend in Nifty futures on the Singapore Stock Exchange and weak trading across Asian markets. The Asian stocks were trading lower after Wall Street ended flat with negative bias in overnight trade as investors remained sidelined ahead of a busy earnings week from big US companies. Back home, bearish trend in the SGX Nifty Index Futures for July delivery, which were trading at 9,915.00, down by 29.50 points or 0.30 per cent, at 10:43 AM Singapore time, also signaled a negative opening for local bourses. On the economy front, investors will keep an eye on the progress of the monsoon session of Parliament, which is feared to be washed away due to issues of cow vigilantism, farmers’ protests, unrest in Kashmir and India’s stand-off with China, says ET report. On the corporate front, cigarette making companies will remain in focus as the government has hiked the cess on cigarettes to compensate manufacturer losses from lower GST rates. SBI Life Insurance, a joint venture (JV) between the State Bank of India (SBI) and BNP Paribas Cardif, has filed its draft red herring prospectus with the Sebi to raise up to Rs 7,000 crore through initial public offering (IPO) of equity shares. On the earnings front, more than ten companies will announce their June quarter results today, which include, UltraTech Cement, Jubilant Life Sciences and CRISIL.
On Monday, the Indian equities kicked-off week on positive note, with 50-shares Nifty closing above 9900 for the first time ever, tracking firm cues from Asian peers. IT and Teck stocks ended higher helped by rally in index heavyweights such as Infosys and Wipro. Infosys shares ended up over 1 per cent after IT major reported a 3.3 per cent year-on-year drop in net profit at Rs 3,483 crore for the first quarter ended June 30, 2017. The company, however, continued to maintain its constant currency revenue growth guidance of 6.5 to 8.5 per cent. Wipro emerged as top gainers after the company announced that its board would consider share buyback. The 30-share barometer SENSEX closed at 32074.78, up by 54.03 points or by 0.17 per cent, and the NSE Nifty ended at 9915.95, up by 29.6 points or by 0.3 per cent.
Top traded Volumes on NSE Nifty were ITC Ltd. 20320210.00, ICICI Bank Ltd. 12506474.00, Vedanta Ltd. 10643668.00, State Bank of India 10549310.00, Hindalco Industries Ltd. 9977809.00.
Free Intraday Tips : Join Our Whatsapp No : 9841986753
Free Commodity Tips : Join our Whatsapp No : 9094047040
