Market may open flat to slightly lower

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could decline 5 points at the opening bell.

Overseas, Asian stocks were mixed. Meanwhile, there was an another missile launch from North Korea. The latest one occurred late Friday, 28 July 2017, and experts said it put the continental US in range of Pyongyang's arsenal.

On data front, growth in China's manufacturing sector slowed marginally in July. The official Purchasing Managers' Index (PMI) stood at 51.4 in July, down from the previous month's 51.7 but still well above the 50-point mark that separates growth from contraction on a monthly basis.

Japanese industrial production rose 1.6% on month in June, the Ministry of Economy, Trade and Industry said. The increase came after a 3.6% drop in May. Industrial output rose 1.9% in the April-June period from the previous quarter.

The S&P 500 index and Nasdaq Composite index both finished slightly lower on Friday, 28 July 2017 for weekly losses as Amazon.com shares slumped on disappointing earnings, while the Dow Jones Industrials Average finished at a record for a weekly gain.

On the data front, a second-quarter reading on gross domestic product rose 2.6%, below the expectations. First-quarter GDP growth was revised to 1.2% from 1.4%. The final reading of the University of Michigan's consumer-sentiment survey for July was lifted to 93.4 from a preliminary 93.1. That's a decline, however, from June's level of 95.1.

Among corporate news back home, Reliance Power, Shree Cement and Siemens will announce April-June 2017 results today, 31 July 2017.

NTPC's net profit rose 12% to Rs 2618.17 crore on 4.3% rise in net sales to Rs 19879.32 crore in Q1 June 2017 over Q1 June 2016. The result was announced on Saturday, 29 July 2017.

Separately, NTPC's board approved the issue of secured/ unsecured, redeemable, taxable/tax-free, cumulative/non-cumulative, non-convertible debentures upto Rs 15000 crore during the period commencing from the date of passing of Special Resolution in the ensuing Annual General Meeting till completion of one year thereof or the date of next Annual General Meeting in the financial year 2018-19 whichever is earlier.

ONGC said that it has not received any communication from the government of India regarding media reports suggesting that Union Cabinet in a meet on 19 July 2017 has in principle decided to disinvest its existing 51.11% of total shareholding in HPCL to ONGC. The clarification was issued on Saturday, 29 July 2017.

Wipro announced that its company, Wipro Gallagher Solutions has released latest version of its loan origination system (LOS), NetOxygen v5.0. It provides users such as loan officers, processors and administrators with more simplified innovation and configuration tools to meet lenders' evolving needs and support next-gen lender transformation. The announcement was made before market hours today, 31 July 2017.

Key benchmark indices closed the session with small losses on Friday, 28 July 2017. The Sensex fell 73.42 points or 0.23% to settle at 32,309.88, its lowest closing level since 25 July 2017.

Foreign portfolio investors (FPIs) sold shares worth a net Rs 223.12 crore on Friday, 28 July 2017, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 424.67 crore on Friday, 28 July 2017, as per provisional data.

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