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A flat opening on the cards

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Trading of index futures on the stock exchange indicates that the Nifty could fall 3 points at the opening bell.

is set to get a normal monsoon this year, with average rainfall likely to be 97%, the Meteorological Department (IMD) announced after market hours yesterday, 16 April 2018. Between 96% and 104% of the long-period average is considered a normal monsoon, and the margin of error is 5%.

Overseas, Asian stocks were trading mixed as investors parsed a mixed set of economic numbers out of and sought fresh leads after weeks of volatility sparked by trade frictions and geopolitical conflict. US stocks rose yesterday, 16 April 2018 as geopolitical tensions faded and investors turned to what's expected to be a blowout corporate earnings season.

Back home,the Sensex and the Nifty logged modest gains on first trading day of the week yesterday, 16 April 2018. The barometer index, the BSE Sensex, rose 112.78 points or 0.33% to settle at 34,305.43. The index rose 47.75 points or 0.46% to settle at 10,528.35. The Sensex and the Nifty advanced for the eight straight trading session. The Sensex and the Nifty, both, attained their highest closing levels in almost seven weeks.

The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 308.13 crore yesterday, 16 April 2018, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 28.97 crore yesterday, 16 April 2018, as per provisional data.

Among corporate news,(HDFC) will be watched. (HDFC AMC), a joint venture between HDFC and Standard Life Investments, reported a 31% jump in profit after tax at Rs 721.61 crore in the year ended March 2018 over the year ended March 2017. The asset management firm's total revenue rose 17.6% to Rs 1867.24 crore in the year ended March 2018 over the year ended March 2017. Total expenses were up 2.11% at Rs 804.73 crore. The announcement was made after market hours yesterday, 16 April 2018.

HDFC AMC last month filed a draft red herring prospectus with Sebi for a public offer of up to 2.54 crore shares.

Adani Ports and Special Economic Zone (APSEZ), India's leading and part of the Adani Group, said it signed a long term agreement with (IOC) to provide (LNG) on a use or pay basis to the state-run refiner, at its upcoming LNG import terminal at Dhamra in Odisha. As per the contract, IOC has booked 3 million tonnes per annum (MTPA) regasification capacity spread over 20 years. IOC plans to supply the gas to its refineries in Paradip in Odisha and Haldia in The announcement was made after market hours yesterday, 16 April 2018.

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

First Published: Tue, April 17 2018. 08:31 IST
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