Market may extend record hitting streak on firm Asian stocks

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could gain 37.75 points at the opening bell on firm Asian stocks.

Among corporate news, Yes Bank's net profit rose 25.1% to Rs 1002.73 crore on 21.4% growth in total income to Rs 6048.78 crore in Q2 September 2017 over Q2 September 2016. The result was announced after market hours yesterday, 26 October 2017.

The bank's gross non-performing assets (NPAs) stood at Rs 2720.34 crore as on 30 September 2017 as against Rs 1364.38 crore as on 30 June 2017 and Rs 916.68 crore as on 30 September 2016.

The ratio of gross NPAs to gross advances stood at 1.82% as on 30 September 2017 as against 0.97% as on 30 June 2017 and 0.83% as on 30 September 2016. The ratio of net NPAs to net advances stood at 1.04% as on 30 September 2017 as against 0.39% as on 30 June 2017 and 0.29% as on 30 September 2016. The bank's provisions and contingencies surged 176.52% to Rs 447.06 crore in Q2 September 2017 over Q2 September 2016.

ICICI Bank, ITC, Maruti Suzuki India and Indian Oil Corporation will announce July-September 2017 quarterly results today, 27 October 2017.

TCS and ACORD, the global data standards-setting body for the insurance industry, announced yesterday, 26 October 2017, an exclusive initiative to modernize the insurance industry by providing enhancements to ACORD's Reference Architecture. TCS will work with ACORD to develop defined data models and standards to allow insurers to address digital transformation, and more easily embrace emerging technologies. The announcement was made after market hours yesterday, 26 October 2017.

Key benchmark indices settled with modest gains in a volatile session of trade yesterday, 26 October 2017, as firmness in European stocks supported gains on the bourses. The Sensex rose 104.63 points or 0.32% to settle at 33,147.13, its record closing high.

Foreign portfolio investors (FPIs) sold shares worth a net Rs 375.63 crore on yesterday, 26 October 2017, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 523.54 crore yesterday, 26 October 2017, as per provisional data.

Overseas, Asian stocks rose following gains in US equities as earnings and congressional action on tax reform boosted confidence in the growth outlook. The US House passed a budget resolution seen as advancing the prospects for tax reform.

Profits for China's industrial powerhouses surged the most in nearly six years in September. Industrial profits in September rose 27.7% from a year earlier to 662.18 billion yuan ($99.46 billion), accelerating from a 24% jump in August, the National Bureau of Statistics (NBS) said.

US stocks end mostly higher yesterday, 26 October 2017, as a fusillade of better-than-expected corporate quarterly results helped to reinvigorate Wall Street buying appetite.

Meanwhile, European Central Bank President Mario Draghi yesterday, 26 October 2017, outlined plans to halve its monthly bond purchases to 30 billion euros ($35 billion) from 60 billion euros starting in January, but he also indicated that zero percent interest rates could remain at current levels until well past whenever it finally decides to end its quantitative easing measures.

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