Friday 3 July 2015

Nifty Likely to Open Lower on Weak Global Cues

 Sensex jumps 30 points to 27,975 and Nifty slips 5 points to 8,440 in the pre-market session.

 Rupee opens higher at 63.42 per dollar against Thursday's close of 63.51.

 Below are the stocks which will be in focus today: 

 Lupin will be in focus today as the company plans to acquire a Russian pharmaceutical manufacturer ZAO Biocom. Biocom has annual sales of $23 million and markets around 38 products in Russia.

ABB, HPCL and IL&FS Engineering All these shares will be in focus today on the back of fund raising plans.

 Tata Motors has launched a new variant of Jaguar XF saloon which is priced at Rs 52 lakh.

 DB Realty to develop 29-storey residential tower in Bandra Kurla Complex, Mumbai.

 Nestle India will be in focus today as the Canadian food regulator finds Maggi safe for consumption.

 Analysts say that today's trading session may witness high volatility as traders would square off their positions ahead of referendum in Greece. Traders will focus on the results of the referendum vote on Sunday.

Meanwhile, Greece's discussions with creditors are on hold until results of the vote are known ECB will review Greece's emergency liquidity assistance cap on Monday.

 The broader markets have been outperforming the benchmark indices since the last three trading sessions. In the last three days the CNX mid-cap index and the Nifty Junior advanced 3.5 per cent each.

 The foreign institutional investors (FIIs) purchased shares worth Rs 575.32 crore while the domestic institutional investors sold shares worth Rs 219.02 crore.

In the derivative segment, FIIs bought index futures worth Rs 361 crore and stock futures worth Rs 551 crore.

 The Indian markets are likely to open on a weak note in trades today tracking weak global cues. The Nifty which is traded on the Singapore Stock Exchange was also trading on a weak note. The SGX Nifty was down 0.3 per cent at 8,405.

Asian stocks were little changed on Friday, with investors reluctant to stake out fresh positions after disappointing U.S. employment data and cautious ahead of Greece's weekend referendum which may decide its future in Europe.

Overnight, the US stocks extended losses on Thursday after the International Monetary Fund warned Greece may need a large debt write-off, and muted U.S. jobs data dampened the economic outlook.

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