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A flat opening on the cards

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Trading of 50 index futures on the stock exchange indicates a flat opening on the domestic bourses today,19 April 2017. Among key results, and will announce March 2017 quarter today, 19 April 2017.

Overseas, Asian stocks put up some resistance before continuing their slide on the back of falling US equities. US markets closed lower yesterday, 18 April 2017 as political uncertainty weighed on equities. A vote in Britain on 8 June 2017 will be preceded by the French presidential election, while a standoff over North Korea's nuclear weapons program drags on. The first round of voting in France starts this weekend. Theresa May will today, 19 April 2017 ask the House of Commons to support her call for a June general election.

Back home,key benchmark indices settled with modest losses in a volatile session of trade yesterday, 18 April 2017 as a strong intraday rally was derailed by sell-off in late trade. The Sensex fell 94.56 points or 0.32% to settle at 29,319.10, its lowest closing level since 27 March 2017.

The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 930.67 crore yesterday, 18 April 2017, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 878.08 crore yesterday, 18 April 2017, as per provisional data.

Among corporate news,TCS' consolidated net profit as per international financial reporting standards (IFRS) fell 2.5% to Rs 6608 crore on 0.3% decline in revenues to Rs 29642 crore in Q4 March 2017 over Q3 December 2016. The board has approved final dividend of Rs 27.50 per share for the year ended 31 March 2017. The announcement was made after market hours yesterday, 18 April 2017.

Zee Entertainment Enterprises said that it has completed transaction of acquisition of 80% equity stake in Mango Networks (Mango). Mango has allotted 40,000 shares to the company. Upon such allotment, the company holds 80% stake in Mango and consequently Mango has become a subsidiary of the company. The announcement was made after market hours yesterday, 18 April 2017.

said that the Finance Committee of the Board at its meeting held yesterday, 18 April 2017, approved the allotment of Basel III-compliant bonds in the nature of debentures aggregating Rs 1000 crore on private placement basis, towards non-equity regulatory Additional Tier I Capital (AT1 Bonds). The announcement was made after market hours yesterday, 18 April 2017.

NBCC (India) said it has secured the total business of Rs 1877 crore in March 2017. The announcement was made after market hours yesterday, 18 April 2017.

Meanwhile, India Meteorological Department (IMD) in its first stage forecast of southwest monsoon for 2017, yesterday, 18 April 2017, said that quantitatively, the monsoon seasonal rainfall is likely to be 96% of the long period average (LPA) with an error of 5%. Forecast assessment suggests 38% of probability for near normal monsoon rainfall, it added. IMD will issue the update forecasts in early June 2017, as a part of the second stage long range forecast of monsoon rainfall.

The June-September southwest monsoon is critical for the country's agriculture because a considerable part of the country's farmland is dependent on the rains for irrigation.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, April 19 2017. 08:26 IST