Market may decline on weak global cues

Market is seen opening lower on weak global cues. Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 62 points at the opening bell.

Overseas, most Asian stocks edged lower after North Korea launched a missile in the direction of the east. As per reports, the unidentified missile flew over Japan before landing 2,000 km east of Hokkaido. US equities closed mostly lower yesterday, 14 September 2017 after strong inflation data raised the possibility of tighter monetary policy from the Federal Reserve. However, the Dow index closed at its record high.

Closer home, foreign portfolio investors (FPIs) sold shares worth a net Rs 1334.23 crore yesterday, 14 September 2017, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 793.31 crore yesterday, 14 September 2017, as per provisional data.

Among corporate news, Wipro announced that it has joined The Linux Foundation as a Silver Member. The Linux Foundation is a nonprofit organization enabling mass innovation through open source technologies. Wipro has identified open source technologies as one of the strategic client themes to drive transformation across the enterprise. The announcement was made after market hours yesterday, 14 September 2017.

Separately, Wipro announced that it has been awarded a 7-year contract by Innogy SE to manage their data center and cloud services. Innogy SE is an established European energy company. The announcement was made before market hours today, 15 September 2017.

Key benchmark indices ended a volatile trading session with small gains yesterday, 14 September 2017. The Sensex had risen 55.52 points or 0.17% to settle at 32,241.93, its highest closing level since 7 August 2017.

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