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Market may see volatility; GDP data eyed
30-Nov-17   08:41 Hrs IST

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 13.50 points at the opening bell. Trading could be volatile due to F&O expiry today, 30 November 2017. On the macro front, the government will announce Q2 September 2017 gross domestic product (GDP) data after market hours today, 30 November 2017.

Trading could be volatile as traders roll over positions in the futures & options (F&O) segment from the near month November 2017 series to December 2017 series. The November 2017 derivatives contract expire today, 30 November 2017.

On the macro front, the government will announce Q2 September 2017 gross domestic product (GDP) data after market hours today, 30 November 2017. India's GDP growth rate slowed to 5.7% in Q1 June 2017, on the back of destocking ahead of Goods and Services Tax (GST) implementation.

India's infrastructure output data for the month of October 2017 is also scheduled to be released after market hours today, 30 November 2017. India's eight core infrastructure sector, carrying 40.27% of the weight of items included in the index of industrial production (IIP), had shown a healthy 5.2% increase in its output in September 2017 over September 2016.

Overseas, Asian stocks fell as investors ponder the longevity of the global equity bull run. Technology shares in the US tumbled yesterday, 29 November 2017 while the S&P 500 Index ended the day flat, amid signs of a rotation away from the year's leaders into financial stocks as tax legislation proceeded through the Senate.

Back home, key equity benchmarks settled a tad lower yesterday, 29 November 2017 after a range bound trading session. The Sensex fell 15.83 points or 0.05% to settle at 33,602.76, its lowest closing level since 23 November 2017.

The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 859.27 crore yesterday, 29 November 2017, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 771.07 crore yesterday, 29 November 2017, as per provisional data.

Among corporate news, Infosys will be watched. Infosys Finacle, part of EdgeVerve Systems, a product subsidiary of Infosys, announced the global availability of Finacle Trade Connect, a blockchain based trade finance solution for banks. The solution will help digitize the trade finance business process, including validation of ownership, certifying documents and making payments, while working on a distributed, trusted and shared network. The announcement was made after market hours yesterday, 29 November 2017.

Cadila Healthcare and The Indian Council of Medical Research (ICMR) announced the launch of new diagnostic kits, developed by ICMR's National Institute of Virology (NIV), Pune to detect neglected infectious diseases in livestock. This public private partnership will open newer avenues for many more indigenously diagnostics for public health benefits. The announcement was made at the fag end of trading session yesterday, 29 November 2017.

Shares of public sector banks (PSBs) will be in spotlight as reports suggested that the government is likely to directly issue Rs 1.35 lakh crore of bank recapitalisation bonds, taking the entire liability of repayment and interest in the central budget, as it seeks to extricate state-run lenders from a mounting pile of bad debt and make funds available to more productive sectors of the economy. The government is expected to seek approval on the funding mechanism from Parliament in the upcoming winter session scheduled to start from 15th December, reports added. The government had in October announced a Rs 2.11-lakh crore capital infusion into state-run banks.

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