Market may edge lower in early trade

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 31 points at the opening bell.

Overseas, Asian stocks witnessed a mixed trend. US major stock indices continued their recent winning streak, closing at all-time highs on Friday, 9 December 2016. All major indexes have been hitting record highs since the election amid hopes that the Trump administration will usher in tax cuts, deregulation and fiscal stimulus.

Closer home, foreign portfolio investors (FPIs) bought shares worth a net Rs 200.52 crore on Friday, 9 December 2016, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 289.57 crore on Friday, 9 December 2016, as per provisional data.

Among stock specific news, Tata Motors announced that the Tata Motors Group global wholesales including Jaguar Land Rover rose 1% to 91,832 units in November 2016 over November 2015. Global wholesales of all passenger vehicles rose 5% to 64,862 units in November 2016 over November 2015. The announcement was made after market hours on Friday, 9 December 2016.

Idea Cellular said it proposes to issue non-convertible debentures amounting to Rs 1500 crore on private placement basis. The tenure of debentures is 5 years with a coupon/interest of 7.57% per annum. The announcement was made after market hours on Friday, 9 December 2016.

On the macro front, data released by the government after market hours on Friday, 9 December 2016 showed that India's industrial production declined 1.9% in October 2016 over October 2015. Twelve out of 22 industry groups in the manufacturing sector showed negative growth in October 2016.

Key benchmark indices ended on a positive note after hovering in narrow range for most part of the session on Friday, 9 December 2016. The Sensex had risen 52.90 points or 0.20% to settle at 26,747.18, its highest closing level since 24 November 2016.

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