After the party last week, markets may start on a subdued note

India Infoline News Service | Mumbai | May 29, 2017 08:15 IST

Indian equity markets likely to open on a flattish note on Monday tracking subdued cues from the Asian peers.

NSE Building
Indian equity markets likely to open on a flattish note on Monday tracking subdued cues from the Asian peers. The muted trend in the SGX Nifty, which was trading with nominal gains of 6 points at 9,581, indicated that domestic bourses may open flat.
 
Now, going forward, Nifty50 needs to sustain above the level of 9,610 to witness any upmove towards the level of 9,650. On the downside, the support for Nifty50 is pegged at levels of 9,565 and 9,530.
 
Key results for the day are Aurobindo Pharma, Bajaj Electricals, BEL, BHEL, BPCL, Coal India, Escorts, GSFC, Jubilant Foods.
 
Back home, it was a fabulous Friday for the Indian markets as it continued its winning streak for the second day, with Sensex and Nifty closing at record high. The market rally was supported by strong corporate earnings reported by FMCG major ITC and HPCL. ITC rallied over 3% and HPCL jumped over 11%.
 
The US stocks finished with mixed results on Friday. The S&P 500 and tech-heavy Nasdaq closed marginally higher, notching fresh records highs and advanced for a seventh straight session. The S&P 500 index rose 1 point to finish at 2,416. The Nasdaq Composite index advanced 5 points to end at 6,210. The Dow Jones Industrial Average shed 3 points to close at 21,080.
 
Asian markets started the first trading session of the fresh week on a mixed note. Japan’s Nikkei 225 has gained 34 points. Hong Kong’s Hang Seng has shed 3 points. The Chinese market is closed on account of Dragon Boat Festival.

Disclaimer: The contents herein is specifically prepared by ‘Dalal Street Investment Journal’, and is for your information & personal consumption only. India Infoline Limited or Dalal Street Investment Journal do not guarantee the accuracy, correctness, completeness or reliability of information contained herein and shall not be held responsible.

 

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