Monday, 6 March 2017

Market to open flat led by flat Asian cues: SMC Global

Market is likely to open flat as Asian stocks are off to a mixed start, says a report by SMC Global. 

The market is likely to open flat as Asian stocks are off to a mixed start, yen strengthened as geopolitical risks looms in Asia after North Korea fired multiple ballistic missiles. China has cut its growth target to 6.5 percent or higher if possible for 2017 compared to the growth target of 6.5 to 7 percent set last year.

The major European markets turned in a mixed performance, on Wall Street, stocks were flat following a highly anticipated speech from Federal Reserve Chair Janet Yellen who has suggested growth remains on track to warrant tighter monetary policy.

As per provisional figures, foreign institutional investors (FIIs)/Foreign Portfolio Investors (FPIs) bought shares worth net Rs 1529.48 crore on March 3, 2017. Domestic institutional investors sold shares worth Rs 737 crore on that day.

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