Market may open lower

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 21 points at the opening bell.

Overseas, Asian stocks were mixed. US stocks hit record highs yesterday, 16 October 2017 as Wall Street bets on another strong earnings season.

Among global news, reports suggested that North Korea's deputy UN ambassador warned yesterday, 16 October 2017 that the situation on the Korean Peninsula has reached the touch-and-go point and a nuclear war may break out any moment.

At the International Monetary Fund's (IMF) annual meeting, deputy managing director of the fund Tao Zhang was quoted as saying that China and emerging markets have to stay vigilant to possible risks. Emerging markets have major development needs, but they need to pay attention to how to better use their money, Zhang reportedly said.

Closer home, foreign portfolio investors (FPIs) sold shares worth a net Rs 29.92 crore yesterday, 16 October 2017, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 272.69 crore yesterday, 16 October 2017, as per provisional data.

Among corporate news, ACC, Axis Bank, Bajaj Auto and Wipro are set to declare their September 2017 quarter results today, 17 October 2017.

Shriram Transport Finance Company said that its board will meet on 1 November 2017 to consider raising funds in ordinary course of business by way of issue of redeemable non-convertible debentures on private placement basis. The announcement was made after market hours yesterday, 16 October 2017.

Key benchmark indices closed the session with modest gains yesterday, 16 October 2017 amid positive sentiment in other Asian bourses and record closing on the Wall Street last week. The Sensex had risen 200.95 points or 0.62% to settle at 32,633.64, its record closing high.

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