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Weak start on the cards

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Market may edge lower in early trade tracking sluggishness in Asian stocks and overnight declines on Trading of 50 index futures on the stock exchange indicates that the could fall 14 points at the opening bell.

Overseas, Asian stocks edged lower after slipped overnight on bond report. US stocks fell yesterday, 10 January 2018 as investors fretted over the possibility of halting its Treasury bond purchases and the US pulling out of North American Agreement (NAFTA).

Closer home, foreign portfolio investors (FPIs) sold shares worth a net Rs 572.26 crore yesterday, 10 January 2018, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 600.24 crore yesterday, 10 January 2018, as per provisional data.

Among corporate news, and are scheduled to announce their Q3 December 2017 results today, 11 January 2018.

On the macro front, according to the World Bank's Global Economic Prospects report released yesterday, 10 January 2018, is likely to reclaim its position from as the fastest growing major in 2018, with growth expected to accelerate to 7.3% in the year. The also revised India's growth estimate for 2017 to 6.7% from 7% projected in October, blaming short-term disruptions caused by the newly introduced goods and services tax (GST) and a softer-than-envisioned recovery in private investment. The report projected China's economic growth to slow to 6.4% in 2018 from 6.8% in 2017.

Meanwhile, the government is scheduled to announce industrial production data for November 2017 tomorrow, 12 January 2018. India's industrial production increased by 2.2% year-on-year in October, easing from an upwardly revised 4.1% gain in September.

The government will also announce tomorrow, 12 January 2018, inflation data based on consumer price index (CPI) for December 2017. Consumer prices increased 4.88% year-on-year in November, higher than 3.58% in October.

The closed the lackluster trading session on a flat note yesterday, 10 January 2018. The Sensex had fallen 10.12 points or 0.03% to settle at 34,433.07, its lowest closing level since 8 January 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: Thu, January 11 2018. 08:10 IST