Market may open lower on weak Asian cues

Market may edge lower in early trade on weak Asian cues amid geopolitical tensions. Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could slide 54.50 points at the opening bell.

Overseas, Asian stocks edged lower after the US fired dozens of cruise missiles into Syria. The missile strikes happened as President Donald Trump hosts Chinese President Xi Jinping at his Mar-a-Lago resort in Florida.

US equities closed well off session highs yesterday, 6 April 2017, after Trump said he's willing to act alone on North Korea if China does not step up.

Closer home, foreign portfolio investors (FPIs) bought shares worth a net Rs 142.68 crore yesterday, 6 April 2017, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 205.64 crore yesterday, 6 April 2017, as per provisional data.

Among corporate news, Reliance Industries (RIL) will be watched. The company said that the Telecom Regulatory Authority of India (TRAI) has advised Reliance Jio Infocomm (Jio) to withdraw the 3 months complementary benefits of Jio Summer Surprise. Jio accepted this decision. It is in the process of fully complying with the regulator's advice, and will be withdrawing the 3 months complimentary benefits of Jio Summer Surprise as soon as operationally feasible, over the next few days.

However, all customers who have subscribed to Jio Summer Surprise offer prior to its discontinuation will remain eligible for the offer, RIL said. The announcement was made after market hours yesterday, 6 April 2017.

Key benchmark indices registered small losses on weak global cues yesterday, 6 April 2017. The Sensex fell 46.90 points or 0.16% to settle at 29,927.34, its lowest closing level since 3 April 2017.

Powered by Capital Market - Live News