INDIAN EQUITY MARKET OUTLOOK -03 OCT 2016

Positive Opening seen on Dalal Street

Indian Indices:

Indian equity benchmarks are likely to witness a positive opening on Monday tracking a bullish trend across markets in Asia. SGX Nifty is trading 17.50 points higher.

Caution ahead of Tuesday’s keenly awaited RBI monetary policy review which will be the first one for new governor Urjit Patel may also weigh on market.

Indian shares edged higher in choppy trade on Friday, recovering from heavy losses suffered in the previous session after India said it had conducted 'surgical strikes' on suspected militants preparing to infiltrate from Pakistan-ruled Kashmir. The S&P BSE Sensex and CNX Nifty rose 0.14%-0.23%.

On Friday (September 30, 2016), SENSEX closed at 27,865.96, up by 38.43 points or by 0.14% and the NSE Nifty ended at 8,611.15, up by 19.9 points or by 0.23%.

Global Market:

Asian shares got the new quarter off to a firm start on Monday, while sterling tumbled as Britain set a March deadline to start divorce proceedings from the European Union.

US stocks closed higher Friday, but off their session highs, boosted by a double-digit rally in Deutsche Bank AG shares, which were recovering from brutal losses in the previous session amid heightened concerns about the health of the German lender’s balance sheet.

European shares closed higher on Friday, lifted by a late surge in Deutsche Bank after a media report that it was close to settling with U.S. authorities over alleged misselling of mortgage-backed securities.

Major Headlines of the day:

· Tata Motors sales rise 8% to 48,648 units in September.

·ONGC, OIL making losses on natural gas production.

·Gammon Infra eyes at least 2 road projects in FY17.

 Trend in FII flows: The FIIs were net sellers of Rs -1028.31 Cr in the cash segment on Friday while the DIIs were net buyers of Rs 1560.29 Cr, as per the provisional figures.

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