Market may open firm on positive Asian stocks

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could gain 30 points at the opening bell.

In overseas stock markets, Asian stocks rose bolstered by overnight rise in oil prices. US stocks rose yesterday, 5 October 2016 on positive economic data. September ISM non-manufacturing came in stronger than expected at 57.1. Factory orders also increased slightly in August, while the trade deficit in the US widened more than expected in August, and mortgage applications increased 2.9 percent last week.

Closer home, foreign portfolio investors (FPIs) bought shares worth a net Rs 243 crore yesterday, 5 October 2016, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 349.86 crore yesterday, 5 October 2016, as per provisional data.

Indian Oil Corporation (IOCL) announced that the company has fixed 19 October 2016 as the record date for 1:1 bonus issue. The announcement was made after market hours yesterday, 5 October 2016.

Oil India announced that the company led Indian consortium successfully completed two landmark acquisitions in Russia. The Indian consortium led by Oil India including Indian Oil Corporation (IOCL) and Bharat PetroResources (BPRL), a 100% subsidiary of BPCL have successfully completed two landmark acquisitions of producing upstream assets in Russia. The consortium acquired 29.9% stake in LLC Taas-Yuryakh Neftegazodobycha (Taas Yuryakh) and 23.9% stake in JSC Vankorneft (Vankorneft) from Rosneft Oil Company, the national oil company of Russia.

Power Grid Corporation of India (PGCIL) announced that POWERGRID Unchahar Transmission, a wholly owned subsidiary of the company has successfully completed the project comprising the element Unchahar-Fatehpur 400 kV D/c line and declared commercial operation on 1 October 2016. The announcement was made after market hours yesterday, 5 October 2016.

Key benchmark indices snapped three-day winning streak yesterday, 5 October 2016 as weakness in global stocks weighed on sentiment. The Sensex fell 113.57 points or 0.4% to settle at 28,220.98, its lowest level since 30 September 2016.

Powered by Capital Market - Live News