Market opens on a flat note

A divergent trend was witnessed in early trade as the barometer index, the S&P BSE Sensex, was trading with small gains while the Nifty 50 index was trading with small losses. At 9:24 IST, the barometer index, the S&P BSE Sensex, was up 10.34 points or 0.03% at 35,500.38. The Nifty 50 index was down 5.70 points or 0.05% at 10,763.45. Most Asian stocks declined.

The S&P BSE Mid-Cap index was down 0.1%. The S&P BSE Small-Cap index was down 0.11%. Both these indices underperformed the Sensex.

The market breadth, indicating the overall health of the market, was just about negative. On the BSE, 627 shares rose and 663 shares fell. A total of 54 shares were unchanged.

Overseas, most Asian stocks fell as concerns linger over the impact of potential global trade restrictions. US stocks rose yesterday, 26 June 2018 as a rally in American crude overshadowed lingering concerns about the impact of heightened trade tensions.

Back home, Infosys rose 1.1%. Infosys Finacle, part of EdgeVerve Systems, a fully owned subsidiary of Infosys, and Santander UK, a leading financial services provider in the UK, announced the launch of a new inter-bank cash management system for its corporate customers. To enhance the user experience, Santander will introduce an inter-bank cash management portal to provide its corporate customers a fully-integrated solution with resilient, secure cash management services accessible through any device of their choice.

This will enable greater personalization options and the ability to rapidly introduce new product innovations for customers. Santander will utilize Finacle's proven digital offering which includes Finacle Online Banking, Omnichannel Hub, Payment Solution and Liquidity Management Solution to help achieve this, and to better support its customers. The announcement was made after market hours yesterday, 26 June 2018.

Voltas fell 0.87%. With reference to news item captioned, "Tata Sons looking to divest 9% stake in company.", Voltas clarified after market hours yesterday, 26 June 2018, that it is not aware of any such development and is therefore not in a position to offer any comments on the same. The company is also not in a position to comment on the drop of Voltas share price on 26 June 2018. Voltas confirmed that no such proposal has been discussed by the board of directors of the firm in this regard.

Majesco gained 2.29%. Majesco announced that American Capital Assurance Corporation went live with the Majesco P&C Core Suite, inclusive of policy, billing, and claims. American Capital Assurance Company ("AmCap Insurance"), owned by AmCap Holdings, LLC offers commercial residential property insurance on an admitted basis, headquartered in St. Petersburg, Florida.

They provide coverage for condominium, homeowner associations, and townhome owner associations. Implementation of the Majesco P&C Core Suite will enable AmCap Insurance to manage their business self-sufficiently, rather than outsourced to an external provider. The announcement was made after market hours yesterday, 26 June 2018.

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