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Market may open higher

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Trading of 50 index futures on the stock exchange indicates that the could rise 10 points at the opening bell.

Overseas, most Asian stocks were trading higher. Japanese shares gained ahead of a Bank of Japan policy decision. US stocks fell for the fourth time in five days as selling in technology shares resumed.

Back home, key benchmark indices registered modest losses yesterday, 15 June 2017, weighed by weakness in global stocks as investors stepped back from risky assets following the Federal Reserve's policy decision. The Sensex fell 80.18 points or 0.26% to settle at 31,075.73, its lowest closing level since 26 May 2017.

The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 645.35 crore yesterday, 15 June 2017, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 854.85 crore yesterday, 15 June 2017, as per provisional data.

Among corporate news,Reliance Industries (RIL) and BP yesterday, 15 June 2017 announced that they are moving forward to develop already-discovered deepwater gas fields, bringing new gas production for India. The two companies have agreed to deepen and expand their partnership to work jointly across a wide range of areas throughout India's energy sector. The announcement was made after market hours yesterday, 15 June 2017.

RIL and BP announced that they will award contracts to progress development of the 'R-Series' deep water gas fields in Block KGD6 off the east coast of India. The project is expected to produce up to 12 million cubic metres (425 million cubic feet) of gas a day, coming on stream in 2020.

This is the first of three planned projects in Block KGD6 that are expected to be developed in an integrated manner, producing from about 3 trillion cubic feet of discovered gas resources.

Development of the three projects, with total investment of Rs 40000 crore ($6 billion), is expected to bring a total 30-35 million cubic metres (1 billion cubic feet) of gas a day new domestic gas production onstream, phased over 2020-2022.

Infosys announced the appointment of Karmesh Vaswani as the Global Head - Retail, CPG & Logistics (RCL) and Nitesh Banga as the Global Head of Manufacturing, effective 15 July 2017. Karmesh Vaswani and Nitesh Banga are both career Infoscions who have held strategic portfolios across the organization for nearly a decade. The announcement was made after market hours yesterday, 15 June 2017.

TCS announced that it has launched ignio for SAP ERP to help customers run their operations in SAP more effectively. ignio is a cognitive automation solution for enterprise IT. ignio has also achieved certified integration with SAP ERP. The announcement was made after market hours yesterday, 15 June 2017.

ICICI Bank said that the committee of executive directors of the bank is scheduled to meet on 20 June 2017 to consider fund raising by way of issuance of senior unsecured long term bonds in the nature of debentures in single/multiple tranches on private placement basis. The announcement was made after market hours yesterday, 15 June 2017.

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

First Published: Fri, June 16 2017. 08:32 IST
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