Market may open flat to slightly higher

Trading of Nifty 50 index futures on the Singapore stock exchange indicates a flat opening. In overseas stock markets, Asian stocks were mixed.

US stocks slipped yesterday, 30 August 2016, as the dollar strengthened on expectations that the Federal Reserve was moving closer to raising interest rates. US consumer confidence rose to an 11-month high in August, with households more upbeat about the labour market, data showed overnight. The focus is now on US nonfarm-payroll data for August due on Friday, 2 September 2016.

Closer home, foreign portfolio investors (FPIs) bought shares worth a net Rs 390.63 crore yesterday, 30 August 2016, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 485.14 crore yesterday, 30 August 2016, as per provisional data.

Among corporate news, TCS announced that it has developed an innovative digital solution to connect Intelligent LEDs, to GE's Predix operating system for the industrial Internet through Intel Atom-based gateways, providing critical analytics to save significant time and costs in the manufacturing process. The announcement was made after market hours yesterday, 30 August 2016.

Maruti Suzuki India turns ex-dividend today, 31 August 2016, for final dividend of Rs 35 per share for the year ended 31 March 2016.

ONGC turns ex-dividend today, 31 August 2016, for final dividend of Rs 3.25 per share for the year ended 31 March 2016.

On macro front, the government will release Q1 gross domestic product (GDP) figures today, 31 August 2016.

Auto, IT and banking stocks and index heavyweights HDFC and ITC led strong gains for key benchmark indices yesterday, 30 August 2016. The Sensex jumped 440.35 points or 1.58% to settle at 28,343.01, its highest closing level since 23 July 2015.

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