Flat opening on the cards

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 4.50 points at the opening bell.

Overseas, Asian stocks witnessed a mixed trend. US equities closed higher yesterday, 13 December 2016, as investors kept an eye on a key Federal Reserve meeting due today, 14 December 2016, while the Dow Jones industrial average closed in on another milestone. The Fed is expected to raise interest rates for only the second time in a decade amid recent data suggesting the US recovery is gaining traction.

Closer home, foreign portfolio investors (FPIs) sold shares worth a net Rs 2181.03 crore yesterday, 13 December 2016, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 178.92 crore yesterday, 13 December 2016, as per provisional data.

On the macro front, data released by the government after market hours yesterday, 13 December 2016 showed that the all-India general CPI inflation dipped to 24-months low of 3.63% in November 2016 compared with 4.20% in October 2016. The corresponding provisional inflation rate for rural area was 4.13% and urban area 3.05% in November 2016 as against 4.78% and 3.54% in October 2016. The core CPI inflation was nearly flat 4.9% in November 2016 from 4.86% in October 2016.

Key benchmark indices registered modest gains yesterday, 13 December 2016. The Sensex had risen 182.58 points or 0.69% to settle at 26,697.82, its highest closing level since 9 December 2016.

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