Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could gain 15.50 points at the opening bell tracking firmness in Asian stocks.
Overseas, Asian stocks gained. US stock markets remained shut yesterday, 15 January 2018, for the Martin Luther King Jr. holiday.
Among corporate news back home, Federal Bank's net profit rose 26.43% to Rs 260.01 crore on 6.76% growth in total income to Rs 2729.83 crore in Q3 December 2017 over Q3 December 2016. The result was announced after market hours yesterday, 15 January 2018.
The bank's ratio of gross non-performing assets (NPAs) to gross advances stood at 2.52% as on 31 December 2017 as against 2.39% as on 30 September 2017 and 2.77% as on 31 December 2016. The ratio of net NPAs to net advances stood at 1.36% as on 31 December 2017 as against 1.32% as on 30 September 2017 and 1.58% as on 31 December 2016.
The bank's provisions and contingencies rose 2.27% to Rs 162.43 crore in Q3 December 2017 over Q3 December 2016.
Among macroeconomic data, exports rose 12.36% to $27.03 billion in December 2017 over December 2016. Imports rose 21.12% to $41.91 billion in December 2017 over December 2016. The trade deficit for December 2017 was estimated at $14.88 billion as against the deficit of $10.54 billion during December 2016.
Trading for the week started on a jubilant note as key benchmark indices posted decent gains, with indices hitting fresh record highs yesterday, 15 January 2018. The Sensex rose 251.12 points or 0.73% to settle at 34,843.51, a record closing high. Data showing India's industrial production surging at 25-month high pace of 8.4% in November boosted sentiment.
Foreign portfolio investors (FPIs) bought shares worth a net Rs 32.92 crore yesterday, 15 January 2018, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 173.28 crore yesterday, 15 January 2018, as per provisional data.
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