What changed your market while you were sleeping
ETMarkets.com|
Updated: Nov 16, 2017, 09.02 AM IST
Amid the weakness observed in the Nifty50 in last three sessions, the Bank Nifty has managed to restrict losses. Can it help the market find a bottom in the near term?
Let’s check out what might influence Dalal Street all through Thursday.
Singapore trading sets stage for flat opening
At 6.15 am, Nifty50 futures on the Singapore Stock Exchange were trading 18.50 points, or 0.18 per cent, lower at 10,127, indicating a negative start for the Nifty50 in India.
Nifty50 makes Bearish candle
A third day of consecutive slide on Wednesday and the Nifty50 looks firmly placed in the bear grip, with the next port of call seen in the sub-10,100 territory. By closing below 10,170, the index has breached a crucial support which was established over last few weeks. As the market consolidated briefly at that level in September and October, this level was expected to be respected, said Mustafa Nadeem, CEO, Epic Research
US stocks ended lower
The Dow Jones Industrial Average fell 138 points, or 0.59 per cent, to close at 23,271 in overnight trade, while the S&P500 index lost 14.25 points, or 0.55 per cent, to end at 2,564 and the Nasdaq Composite dropped 31.66 points, or 0.47 per cent, to 6,706. Republican US Senator Ron Johnson said he opposes his party’s Senate tax revamp proposal, the Wall Street Journal reported.
Asian markets cautious
Asian shares got off to a cautious start on Thursday after Wall Street stumbled despite upbeat US economic news and the Treasury yield curve hit its flattest in a decade as investors priced in more US rate hikes. MSCI’s broadest index of Asia-Pacific shares outside Japan inched up 0.1 per cent in early trade, while Australian stocks were a fraction weaker. Japan's Nikkei dithered either side of flat, while EMini futures for the S&P500 eased 0.03 per cent
Crude oil under pressure
Oil markets on Thursday were weighed down by rising US crude production and inventories, but prices were prevented from falling by expectations that Opec will extend an ongoing production cut during a meeting at the end of this month. Brent crude futures were at $61.89 a barrel, 2 cents above their last close. WTI crude futures were at $55.33 a barrel, unchanged from their last settlement.
El-Erian for US Fed’s top post?
US President Donald Trump’s economic team is reportedly considering Allianz economist and former CEO of bond fund giant Pimco Mohamed El-Erian for one of four open seats on the Federal Reserve’s powerful Washington-based board of governors.
5Paisa Capital to list today
5Paisa Capital, an online financial services provider belonging to IIFL Group, will make its debut on the stock bourses on November 16. Market watchers expect the company to list between Rs 180 and Rs 200 apiece, which will value it at approximately Rs 250 crore. IIFL’s market capitalisation was Rs 19,000 crore on Wednesday.
Daiichi files fresh plea against Singh brothers
Japanese drugmaker Daiichi Sankyo has approached the Delhi High Court afresh, seeking initiation of contempt of court procedure against former Ranbaxy promoters Malvinder and Shivinder Singh for allegedly violating a previous order to maintain status of their unpledged assets
Fortis to buy back real estate from RHT
Fortis Healthcare will buy back the real estate assets that house its 14 existing hospitals and four upcoming projects from Religare Healthcare Trust (RHT) for ?4,650 crore, including Rs 1,152 crore debt. The transaction also involves Fortis Healthcare acquiring the 49% stake in Fortis Hospotel from the Singapore Exchange-listed RHT.
Two suitors for Federal Bank’s NBCC
Federal Bank has moved a step closer to divesting 26% in its wholly owned nonbanking finance company FedBank Financial Services (Fedfina). The number of prospective investors has been narrowed down to two
CLSA downgrades Cadila
CLSA has downgraded shares of Cadila Healthcare to ‘underperform’ from ‘buy’ and revised target price to Rs 480 from Rs 580. The brokerage said Cadila reported its best ever quarterly profit in the September quarter but such strong quarters may not recur as generic Lialda is likely to face incremental competition in Q4FY18. The stock ended down 2.04 per cent at Rs 439 on Wednesday.
Let’s check out what might influence Dalal Street all through Thursday.
Singapore trading sets stage for flat opening
At 6.15 am, Nifty50 futures on the Singapore Stock Exchange were trading 18.50 points, or 0.18 per cent, lower at 10,127, indicating a negative start for the Nifty50 in India.
Nifty50 makes Bearish candle
A third day of consecutive slide on Wednesday and the Nifty50 looks firmly placed in the bear grip, with the next port of call seen in the sub-10,100 territory. By closing below 10,170, the index has breached a crucial support which was established over last few weeks. As the market consolidated briefly at that level in September and October, this level was expected to be respected, said Mustafa Nadeem, CEO, Epic Research
US stocks ended lower
The Dow Jones Industrial Average fell 138 points, or 0.59 per cent, to close at 23,271 in overnight trade, while the S&P500 index lost 14.25 points, or 0.55 per cent, to end at 2,564 and the Nasdaq Composite dropped 31.66 points, or 0.47 per cent, to 6,706. Republican US Senator Ron Johnson said he opposes his party’s Senate tax revamp proposal, the Wall Street Journal reported.
Asian markets cautious
Asian shares got off to a cautious start on Thursday after Wall Street stumbled despite upbeat US economic news and the Treasury yield curve hit its flattest in a decade as investors priced in more US rate hikes. MSCI’s broadest index of Asia-Pacific shares outside Japan inched up 0.1 per cent in early trade, while Australian stocks were a fraction weaker. Japan's Nikkei dithered either side of flat, while EMini futures for the S&P500 eased 0.03 per cent
Crude oil under pressure
Oil markets on Thursday were weighed down by rising US crude production and inventories, but prices were prevented from falling by expectations that Opec will extend an ongoing production cut during a meeting at the end of this month. Brent crude futures were at $61.89 a barrel, 2 cents above their last close. WTI crude futures were at $55.33 a barrel, unchanged from their last settlement.
El-Erian for US Fed’s top post?
US President Donald Trump’s economic team is reportedly considering Allianz economist and former CEO of bond fund giant Pimco Mohamed El-Erian for one of four open seats on the Federal Reserve’s powerful Washington-based board of governors.
5Paisa Capital to list today
5Paisa Capital, an online financial services provider belonging to IIFL Group, will make its debut on the stock bourses on November 16. Market watchers expect the company to list between Rs 180 and Rs 200 apiece, which will value it at approximately Rs 250 crore. IIFL’s market capitalisation was Rs 19,000 crore on Wednesday.
Daiichi files fresh plea against Singh brothers
Japanese drugmaker Daiichi Sankyo has approached the Delhi High Court afresh, seeking initiation of contempt of court procedure against former Ranbaxy promoters Malvinder and Shivinder Singh for allegedly violating a previous order to maintain status of their unpledged assets
Fortis to buy back real estate from RHT
Fortis Healthcare will buy back the real estate assets that house its 14 existing hospitals and four upcoming projects from Religare Healthcare Trust (RHT) for ?4,650 crore, including Rs 1,152 crore debt. The transaction also involves Fortis Healthcare acquiring the 49% stake in Fortis Hospotel from the Singapore Exchange-listed RHT.
Two suitors for Federal Bank’s NBCC
Federal Bank has moved a step closer to divesting 26% in its wholly owned nonbanking finance company FedBank Financial Services (Fedfina). The number of prospective investors has been narrowed down to two
CLSA downgrades Cadila
CLSA has downgraded shares of Cadila Healthcare to ‘underperform’ from ‘buy’ and revised target price to Rs 480 from Rs 580. The brokerage said Cadila reported its best ever quarterly profit in the September quarter but such strong quarters may not recur as generic Lialda is likely to face incremental competition in Q4FY18. The stock ended down 2.04 per cent at Rs 439 on Wednesday.
