Market may open higher

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 94 points at the opening bell.

Overseas, Asian shares are trading higher on Friday on revived hopes of progress in US-China trade talks. US stocks climbed on Thursday as Treasury yields rose off 15-month lows, with investors optimistic about the latest round of US-China trade talks.

Back home,the market settled with sharp gains on strong buying demand in index pivotals yesterday, 28 March 2019. The Sensex rose 412.84 points or 1.08% to settle at 38,545.72. The Nifty 50 index rose 124.95 points or 1.09% to settle at 11,570.

The trading activity on that day showed that the foreign portfolio investors (FPIs) bought shares worth a net Rs 3594.51 crore yesterday, 28 March 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 2080.22 crore yesterday, 28 March 2019, as per provisional data.

Among corporate news,Wipro and Indian Institute of Technology, Kharagpur (IIT Kharagpur) signed a memorandum of understanding (MOU) to collaborate on high-impact, industry-focused applied research in the areas of 5G and artificial intelligence (AI). Research outcomes from this partnership will be leveraged by Wipro to develop solutions for its customers, across industry verticals. IIT Kharagpur will benefit from the commercialization of the joint research insights and Wipro's real-world industry expertise. The announcement was made after market hours yesterday, 28 March 2019.

Lupin announced the launch of Fluocinonide Ointment USP, 0.05%, having received an approval from the United States Food and Drug Administration (USFDA) earlier. Lupin's Fluocinonide Ointment USP, 0.05%, is the generic version of County Line Pharmaceuticals LLC's Lidex Ointment 0.05%. It is indicated for the relief of the inflammatory and pruritic manifestations of corticosteroid responsive dermatoses. Fluocinonide Ointment USP, 0.05% (RLD: Lidex) had annual sales of approximately $15 million in the U.S (IQVIA MAT January 2019). The announcement was made after market hours yesterday, 28 March 2019.

Powered by Capital Market - Live News