Market may open higher

Don't want to miss the best from Business Standard?

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 15 points at the opening bell.

Overseas, Asian stocks were trading with small gains, in thin trade and with little to guide them as most major markets were closed yesterday, 26 December 2016 for Christmas holidays. Markets in Australia, New Zealand and Hong Kong remain shut today, 27 December 2016 while those in the US and the UK will resume trading after the Christmas break.

Back home, after taking a breather on Friday, 23 December 2016, from earlier seven-day losing streak, key benchmark indices resumed their fall yesterday, 26 December after Prime Minister Narendra Modi on Saturday, 24 December 2016, hinted at increase in taxes on income from stock market. The Sensex lost 233.60 points or 0.9% to settle at 25,807.10, its lowest closing level since 21 November 2016.

The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 1095.04 crore yesterday, 26 December 2016, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 1065.39 crore yesterday, 26 December 2016, as per provisional data.

Among corporate news, Apollo Hospitals Enterprise announced that the company has issued a letter of comfort for an aggregate sum of Rs 37.10 crore to ICICI Bank in connection with the sanction of credit facilities in favour of its step-down subsidiary, Alliance Dental Care, Chennai. The announcement was made after market hours yesterday, 26 December 2016.

Powered by Capital Market - Live News