Market may edge lower in early trade

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 17.50 points at the opening bell.

Overseas, most Asian stocks edged higher as investors awaited clues from the Federal Reserve on future monetary policy. US stocks registered fresh record closing high yesterday, 18 September 2017 as investors looked ahead to the outcome of a key Federal Reserve meeting tomorrow, 20 September 2017. Market participants are largely expecting interest rates to remain unchanged. However, Fed is expected to announce the unwinding of its $4.5 trillion balance sheet.

Closer home, foreign portfolio investors (FPIs) sold shares worth a net Rs 96.92 crore yesterday, 18 September 2017, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 775.61 crore yesterday, 18 September 2017, as per provisional data.

Among corporate news, Infosys and The CMA CGM Group, a world leader in container shipping announced a strategic seven-year partnership which will simplify and transform CMA CGM's IT applications and improve customer service experience. The announcement was made after market hours yesterday, 18 September 2017.

NHPC informed that TLDP-III (132 MW) and TLDP-IV (160 MW) power stations in West Bengal, which were under complete shutdown from 12 July 2017 and 13 July 2017, were restored on 15 September 2017 and 14 September 2017 respectively. TLDP-III had contributed 4.89% of the company's total revenue in FY 2017 while TLDP-IV contributed 2.22% of the company's total revenue in FY 2017. The announcement was made after market hours yesterday, 18 September 2017.

In the economic news, the number of foreign tourist arrivals (FTAs) rose 11% to 7.24 lakh in August 2017 over August 2016, data released by the Ministry of Tourism after market hours yesterday, 18 September 2017 showed.

Market registered modest gains in a broadly firm session of trade yesterday, 18 September 2017. The Sensex had risen 151.15 points or 0.47% to settle at 32,423.76, its highest closing level since 2 August 2017.

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