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Sensex, Nifty may open on flat-to-cautious note

Yatheendradas C.k. at 08:53 AM - Jun 10, 2016 ( ) Views: 393

Pre-markets: Sensex, Nifty may open on flat-to-cautious note; YES Bank, Cairn India among 5 stocks in focus today

Sensex came off seven-month highs on Thursday after logging its biggest single-day fall in three weeks

By: Rahul Oberoi | New Delhi | Updated: June 10, 2016 8:22 AM

The BSE Sensex and NSE Nifty are likely to open on a flat-to-cautious note on Friday tracking Nifty futures on the Singapore Stock Exchange (SGX Nifty) and weak global cues.

At 7.55 am (IST), SGX Nifty was up 12 points at 8,237.

Asian shares stepped back on Friday while investors poured funds into safe-haven assets amid festering concerns about a UK referendum that could push Britain out of the European Union.

Wall Street shares also pulled back on Thursday after three days of gains, with the S&P 500 losing 0.17 per cent to finish at 2,115.48, still only about 15 points below its record closing high.

Sensex came off seven-month highs on Thursday after logging its biggest single-day fall in three weeks, mirroring global caution ahead of the US Fed meet and hit by an IT sell-off after Infosys flagged volatility issues for the next few quarters. The 30-share index plunged 257.20 points or 0.95 per cent to crack below the 27,000-mark.

Stocks in Focus in today’s trade

Cairn India: Vedanta Group’s Cairn India will pay one per cent of net profit as commission to its non-executive directors, including mining baron Anil Agarwal’s
daughter Priya and brother Navin, over and above their sitting fees.

YES Bank: Private sector lender Yes Bank on Thursday said it has subscribed 8 per cent stake in Receivables Exchange of India Limited (RXIL).

Minda Industries: The company will replace Sterlite Technologies in S&P BSE 500 index from June 15.

Vedanta: According to reports, CLSA upgraded Vedanta from ‘Sell’ to ‘Buy’ with target price of Rs 150 (from Rs 70 earlier).

Jindal Stainless: Jindal Stainless Ltd (JSL) on Thursday said a sub-committee of its board will meet on June 15 to consider number of shares to be issued to Jindal Stainless (Hisar) Ltd (JSHL).

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