Market may open higher

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 14 points at the opening bell.

Overseas, most Asian stocks rose on positive leads from earnings-led gains on Wall Street. The three major US stock indexes closed higher on Monday amid a strong US earnings season, with results from Berkshire Hathaway impressing and Facebook lifting the Nasdaq after a report it was planning new services.

Back home,domestic stocks logged modest gains in a steady session of trade yesterday, 6 August 2018 on buying demand in index pivotals. The barometer index, the S&P BSE Sensex, rose 135.73 points or 0.36% at 37,691.89. The Nifty 50 index rose 26.30 points or 0.23% at 11,387.10. The Sensex and the Nifty, both, attained record closing high levels.

The trading activity on that day showed that the foreign portfolio investors (FPIs) bought shares worth a net Rs 248.70 crore yesterday, 6 August 2018, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 218.64 crore yesterday, 6 August 2018, as per provisional data.

Among corporate news,on a consolidated basis, Adani Ports And Special Economic Zone's net profit fell 9.14% to Rs 697.40 crore on 12.17% decline in net sales to Rs 2411.03 crore in Q1 June 2018 over Q1 June 2017. The result was announced after market hours yesterday, 6 August 2018.

Sun Pharmaceutical Industries announced that it launched Kapspargo Sprinkle (metoprolol succinate) extended release capsules in the US, for the treatment of hypertension (to lower blood pressure), angina pectoris (chest pain), and heart failure (to reduce the risk of cardiovascular mortality and heart-failure hospitalization in patients with heart failure). The announcement was made after market hours yesterday, 6 August 2018.

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