Expect market to open on flat to positive note: SMC Global
According to a report by SMC Global, market is expected to open flat to positive following strong opening in Asian markets.
SMC Global's Outlook for the day:
The market is expected to open flat to positive following strong opening in Asian markets, but at domestic front India's auto sales saw their biggest monthly fall in 16 years in December due to demonetization drive. Asian stocks opened higher following a surge in metal stocks after evidence of quickening price growth in China boosted metals and other commodities, crude oil prices dropped to a one-month low.
European stock markets, which had opened broadly lower , closed the day on a firmer note, while Wall Street shares closed mixed. US stocks have risen in the last two months in anticipation of easier fiscal policy based on Trump's campaign promises of increased infrastructure spending and tax cuts.
South Indian Bank to announce their results today. As per provisional figures, foreign institutional investors (FIIs)/ Foreign Portfolio Investors (FPIs) sold shares worth net Rs 21.20 crore on January 10, 2017. Domestic institutional investors bought shares worth Rs 253.36 crore on that day.
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