Indices may open slightly higher on positive lead from Asia

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could gain 13.50 points at the opening bell on firm Asian stocks.

Overseas, most Asian stocks gained after slightly firmer lead from Wall Street, which recorded a third consecutive day of gains in the last session. Meanwhile, fourth-quarter Japan gross domestic product data released showed the economy grew at an annualized 0.5%, below a median forecast.

It will be a shortened week for greater China markets, with mainland China markets closing from 15 to 21 February 2018 and Hong Kong markets shut from 16 to 19 February 2018 for the Lunar New Year. Other regional markets, including South Korea, Taiwan and Singapore, will also finish the week early due to the holiday.

On the macro front back home, industrial production continued to record strong growth for second straight month at 7.1% in December 2017 over December 2016, while the growth figure for November 2017 has revised upwards to 8.8% from 8.4% reported earlier. The manufacturing sector's production surged 8.4% in December 2017, supporting overall growth in industrial production. The mining output growth also improved 1.2% in December 2017, while the electricity generation moved up 4.4% in December 2017, contributing to the improvement in overall industrial production growth in December 2017.

The all-India general inflation based on consumer price index (CPI) eased to 5.07% in January 2018 compared with 5.21% in December 2017. The corresponding provisional inflation rate for rural area was 5.21% and urban area 4.93% in January 2018 as against 5.27% and 5.09% in December 2017. The core CPI inflation was flat at 5 % in January 2018 compared with 4.98% in December 2017. The cumulative CPI inflation was lower at 3.43% in April-January FY2018 compared with 4.68% in April-January FY2017. Inflation and IIP data were announced after market hours on Monday, 12 February 2018.

Among corporate earnings of prominent companies, Godrej Industries, Grasim Industries, Jet Airways (India), Nestle India, Sun Pharmaceutical Industries and Tata Power Company will announce October-December 2017 earnings today, 14 February 2018.

GAIL (India)'s net profit rose 28.4% to Rs 1262.22 crore on 18.8% growth in net sales to Rs 14414.34 crore in Q3 December 2017 over Q3 December 2016. The results were announced after market hours on Monday, 12 February 2018.

GAIL (India)'s board recommended the issuance of one bonus share of Rs 10 each for existing three shares held, subject to the shareholders approval.

Trading for the week started on a buoyant note as key indices settled with noteworthy gains on Monday, 12 February 2018, as firmness in global stocks perked up sentiment. The Sensex rose 294.71 points or 0.87% to settle at 34,300.47, its highest closing level since 8 February 2018.

Foreign portfolio investors (FPIs) sold shares worth a net Rs 814.11 crore on Monday, 12 February 2018, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 1342.70 crore on Monday, 12 February 2018, as per provisional data.

The Indian stock market remained shut yesterday, 13 February 2018, on account of Mahashivratri.

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