Markets likely to open higher
Indian Indices:
Indian equity benchmarks may witness
a gap up opening on Thursday as the sharp losses in the previous session offer
a good bargain buying opportunity. SGX Nifty is trading 1.50 points higher.
Shares of Dhanlaxhmi Bank, ICRA and
JK Lakhsmi Cement will be in focus as they reveal their April-June 2016 quarter
earnings
Indian shares fell on Wednesday and
were headed for their second straight session of declines, as drug maker Lupin
Ltd (LUPN.NS) dropped on concerns about its earnings outlook and as investors
weighed whether the recent rally in equities may have been overdone. The
S&P BSE Sensex and CNX Nifty dipped 1.10%-1.19% each.
Global Market:
Asian shares fell on Thursday,
reversing recent gains following losses on Wall Street, though regional
currencies rose after Beijing let the Chinese yuan strengthen to mark the
one-year anniversary of a landmark devaluation.
U.S. stocks closed slightly lower
Wednesday, with the S&P 500 and Nasdaq retreating from record levels as the
energy sector came under renewed pressure.
European shares halted a five-day
rally, retreating from their highest prices in almost seven weeks, on
disappointing earnings at companies including German utilities giant EON and
Danish biotechnology company Novozymes.
Major Headlines of the day:
·
Pharma
companies' profits will moderate in near term: CRISIL
·
Birla
Corporation posts 278% jump in Q4 profit
·
Welspun
aims 25% home textiles business from domestic market by
Trend in FII flows: The FIIs were net buyers of Rs 412.56 Cr in the cash segment on Wednesday while the DIIs were net sellers of
Rs –747.27 Cr, as per the provisional figures.
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