Market may gain in early trade

Market may gain in early trade on positive trading in Asian stocks and strong finish on Wall Street overnight. Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 45.50 points at the opening bell.

Overseas, Asian stocks edged higher following firm US lead as investors awaited upcoming earnings releases. US stocks rose to record levels on Friday, 5 January 2018 even as Wall Street shook off jobs data that missed expectations. The US economy added 148,000 jobs in December, according to the Labor Department, as against expectations of 190,000 jobs.

Closer home, foreign portfolio investors (FPIs) bought shares worth a net Rs 581.43 crore on Friday, 5 January 2018, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) purchased shares worth a net Rs 243.13 crore on Friday, 5 January 2018, as per provisional data.

Among corporate news, NBCC (India) said it has received a contract from Ecotourism Development Corporation of Uttarakhand, Dehradun for Construction of Kotdwar-Ramnagar Kandi Road under Green Infrastructure/Green Road Project amounting to about Rs 2000 crore as project management consultant. The announcement was made on Saturday, 6 January 2018.

The 14-day long winter session of the Parliament concluded on Friday, 5 January 2018. The Speaker said that 16 bills were introduced in the Lok Sabha by the government in the session, of which 12 bills including the triple talaq bill was passed. Important bills passed during the session also included the Requisitioning and Acquisition of Immovable Property Bill and the Goods and Services Tax (Compensation to States) Amendment Bill.

Key indices ended at record high levels on Friday, 5 January 2018, tracking positive global equity markets on the back of robust economic data. The Sensex had risen 184.21 points or 0.54% to settle at 34,153.85, its record closing high.

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