Market may open lower

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 38 points at the opening bell.

Overseas, most Asian stocks were trading lower. US stock benchmarks staged a comeback yesterday, 25 October 2018, regaining much of the ground lost in a rout during the prior session.

In economic data, the US pending home sales edged up 0.5% to a reading of 104.6 in September from 104.1 in August, the National Association of Realtors said Thursday.

Meanwhile, the European Central Bank reaffirmed its plan to end the asset-buying program at the heart of its quantitative-easing strategy in December provided data show inflation remains on track to eventually meet its target. The ECB left interest rates unchanged and repeated that they will remain at present levels at least through the summer of 2019.

Back home,key benchmark indices suffered strong losses in volatile trade yesterday, 25 October 2018 led by slide in index pivotals HDFC, Reliance Industries and HDFC Bank. The Sensex settled below the psychological 34,000 level after sliding below that level in opening trade. The Sensex fell 343.87 points or 1.01% to settle at 33,690.09, its lowest closing level since 6 April 2018.

The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 1495.71 crore yesterday, 25 October 2018, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 339.60 crore yesterday, 25 October 2018, as per provisional data.

Among corporate news,Yes Bank's net profit fell 3.79% to Rs 964.70 crore on 43.91% rise in total income to Rs 8704.68 crore in Q2 September 2018 over Q2 September 2017. The result was announced after market hours yesterday, 25 October 2018.

On a consolidated basis, Bharti Airtel's net profit fell 57.48% to Rs 249.20 crore on 6.22% decline in net sales to Rs 20422.50 crore in Q2 September 2018 over Q2 September 2017. The result was announced after market hours yesterday, 25 October 2018.

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