Flat to slightly higher opening on cards

The stock market may see a flat to slightly higher opening amid mixed global cues. Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 6 points at the opening bell.

Overseas, Asian stocks were mixed. US equities rose to record highs yesterday, 9 January 2018 as investors remained optimistic about the market heading into the corporate earnings season.

Closer home, foreign portfolio investors (FPIs) sold shares worth a net Rs 692.83 crore yesterday, 9 January 2018, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 522.90 crore yesterday, 9 January 2018, as per provisional data.

Among corporate news, Power Grid Corporation of India (PGCIL) announced that its board approved investment for transmission system for ultra mega solar power park at Tumkur (Pavagada), Karnataka - Phase-II Part-C at an estimated cost of Rs 92.13 crore with commissioning schedule of 20 months from the date of investment approval. The announcement was made after trading hours yesterday, 9 January 2018.

The stock market registered small gains in a range bound session of trade yesterday, 9 January 2018. The Sensex had risen 90.40 points or 0.26% to settle at 34,443.19, its record closing high.

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