Equity Market Trend and Nifty Updates

equality-vs-equityMarket Snippet:

* Indian shares edged down on Friday, marking their first weekly loss in three, as caution prevailed ahead of IIP data to be released later today.

* US Federal Reserve meeting next week and Britain’s referendum on European.

* Union membership on June 23. Nifty experienced profit booking from the day high and did not sustain at the lower side. Nifty slipped 33.55 points or 0.4 percent at 8170.05.

* BHEL, NTPC, Lupin, Reliance and Bharti Airtel were top gainers while Tata Steel, GAIl, Coal.

de1Global Markets Update:

* Yahoo Inc is set to put together a new shortlist of bidders for its core internet assets after several parties, including Verizon Communications Inc and AT&T Inc made second-round offers.

*Wendy’s Co said it had discovered additional.

de2

de3Stock:

* Sugar stocks rallied such as Balrampur Chini, Andhra Sugar, Oudh Sugar etc in an otherwise market as government plans to introduce a 25 percent tax on sugar exports to maintain local supplies, a move that could further push up global prices of the sweetener and boost shipments from Thailand.

* Bank of India and Caixa Bank has signed a MoU (Memorandum of Agreement) to enhance business synergies between both banks. Stock tanks.

* Adani Ports shares gains after rating agency India Ratings & Research assigned a stable outlook for its proposed NCDs (non-convertible debentures).company said that rating agency has assigned a final ‘IND AA+’ rating with stable outlook for the proposed NCDs amounting to Rs 200 crore.

* Shares of logistics companies such as Snowman, Gati, VRL Logistic etc extended gains for the fourth consecutive session in an otherwise weak market on hopes of clearance of the GST (goods and services tax) Bill in the upper house of the Parliament.

* State Canara Bank is planning to raise Rs 500.

Global Markets:

* European shares hit a two-week low on Friday, with Lufthansa falling after a surprise announcement that its chief financial officer will be leaving, while persistent political concerns put pressure on cyclical stocks on the last trading day of the week.

* Japan’s Nikkei share average fell on Friday after 10-year government bond yields dropped to a record low, rattling investors who were already cautious ahead of policy decisions from the U.S. Federal Reserve and Bank of Japan next week.

* Asian shares were weaker with sentiment.

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