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Market may open slightly higher

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Trading of 50 index futures on the stock exchange indicates that the could rise 11 points at the opening bell.

Overseas, Asian stocks took a breather as investors awaited for more clues on global demand and US interest-rate policy. Modest gains lifted US stocks to another record yesterday, 7 August 2017.

Back home,key benchmark indices registered modest losses on first trading day of the week yesterday, 7 August 2017 despite firmness in most of the global stocks. The Sensex fell 51.74 points or 0.16% to settle at 32,273.67, its lowest closing level since 3 August 2017.

The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 199.21 crore yesterday, 7 August 2017, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 308.15 crore yesterday, 7 August 2017, as per provisional data.

Among corporate news,on a consolidated basis, Tata Steel reported net profit of Rs 921.09 crore in Q1 June 2017 compared with net loss of Rs 3183.07 crore in Q1 June 2016. Net sales rose 18.9% to Rs 29386.76 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours yesterday, 7 August 2017.

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

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