Market may open higher

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 13 points at the opening bell.

Overseas, most Asian shares edged higher as crude oil prices inched up after hitting a 10-month low overnight. In US, the S&P 500 and Dow industrials ended slightly lower overnight, weighed down by losses in the energy sector as oil prices continued to slide. But the Nasdaq Composite posted moderate gains thanks to a surge in biotechnology shares.

The S&P 500 index closed with a loss of 1.42 points, or less than 0.1%, at 2,435.61. The Dow Jones Industrial Average lost 57.11 points, or 0.3%, to 21,410.03. The Nasdaq Composite Index bucked the trend, closing 45.92 points, or 0.7%, higher at 6,233.95.

Closer home, foreign portfolio investors (FPIs) sold shares worth a net Rs 152.82 crore yesterday, 21 June 2017, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 41.39 crore yesterday, 21 June 2017, as per provisional data.

Among corporate news, HDFC has filed term sheet for issuing secured redeemable non-convertible debentures worth Rs 700 crore on private placement basis. HDFC said that the coupon rate on debentures is 7.21% per annum. The tenor of the debentures is one year 93 days, with redemption date being 24 September 2018. The issue opens and closes on the same day on 23 June 2017. The object of the issue is to augment long term resources of the company, HDFC said. The proceeds of the issue would be utilized for financing/refinancing the housing finance business requirements of the company. The announcement was made after market hours yesterday, 21 June 2017.

Tata Motors said that a meeting of the duly authorised committee held yesterday, 21 June 2017, approved offering for subscription, on a private placement basis, up to 5,000 Rated, Listed, Unsecured, 7.50% coupon, redeemable, non-convertible debentures (NCDs) of face value Rs 10 lakh each, at par, aggregating up to Rs 500 crore. The announcement was made after market hours yesterday, 21 June 2017.

Ashok Leyland said that the board of directors of Hinduja Leyland Finance (HLFL) at its meeting held on 23 May 2017 has decided to withdraw the draft red herring prospectus (DRHP) and accordingly the DRHP had been withdrawn from Securities Exchange Board of India (Sebi) on 16 June 2017. Ashok Leyland had earlier informed about the filing of DRHP with Sebi by HLFL for the proposed initial public offering (IPO) of equity shares. HLFL is a subsidiary company of Ashok Leyland. The announcement was made after market hours yesterday, 21 June 2017.

Shares of Hindustan Unilever turn ex-dividend today, 22 June 2017 for final dividend of Rs 10 per share for the year ended 31 March 2017.

Domestic stocks shut shop with small losses on negative global cues yesterday, 21 June 2017. The barometer index, the S&P BSE Sensex, fell 13.89 points or 0.04% to settle at 31,283.64. The Nifty 50 index fell 19.90 points or 0.21% to settle at 9,633.60.

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