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Market may rise on positive global cues

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Trading of 50 index futures on the stock exchange indicates that the could rise 36 points at the opening bell on positive global cues.

Overseas, Asian stocks rose after the Dow and S&P 500 hit record highs on Friday, 14 July 2017, on bets the Federal Reserve's accommodative monetary policy will continue following lackluster US data.

US stocks closed higher on Friday, 14 July 2017, after data showed consumer prices were unchanged in June and retail sales fell for a second straight month. The Dow Jones Industrial Average rose 84.65 points, or 0.4% to finish at 21,637.74. The S&P 500 index rose 11.44 points, or 0.5%, to finish at a record 2,459.27. The Nasdaq Composite Index gained 38.03 points, or 0.6%, to close at 6,312.47.

Closer home, foreign portfolio investors (FPIs) bought shares worth a net Rs 673.56 crore on Friday, 14 July 2017, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 136.27 crore on Friday, 14 July 2017, as per provisional data.

On the macro front, the monsoon session of Parliament kickstarts today, 17 July 2017. The session will see a total of 19 sittings spread over a span of 26 days including four Private Members' days. A total of 21 Bills pending in Lok Sabha and 42 Bills pending in Rajya Sabha will be in focus.

Among corporate news, ACC and Jubilant FoodWorks will announce April-June 2017 results today, 17 July 2017.

Cadila Healthcare announced that it has received the tentative approval from the United States Food and Drug Administration (USFDA) to market Fingolimod Capsules, 0.5 mg. The drug is an immunomodulating drug, mostly used for treating multiple sclerosis and will be produced at the group's formulations manufacturing facility at the Pharma SEZ, in Ahmedabad. The sales of Fingolimod Capsules is estimated at $2.1 billion as per IMS Health data. The announcement was made after market hours on Friday, 14 July 2017.

The group now has more than 120 approvals and has so far filed over 300 abbreviated new drug applications (ANDAs) since the commencement of the filing process in FY 2003-2004.

Key benchmark indices finished with small losses on Friday, 14 July 2017. The barometer index, the S&P BSE Sensex, fell 16.63 points or 0.05% to settle at 32,020.75. The index fell 5.35 points or 0.05% to settle at 9,886.35.

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

First Published: Mon, July 17 2017. 07:46 IST