Market may open on a firm note

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could gain 33 points at the opening bell.

Overseas, Asian stocks were mixed. US stocks slipped yesterday, 22 August 2018 halting a four-day advance as weakness in industrials outweighed gains in technology shares.

Meanwhile, US Treasury Undersecretary for International Affairs David Malpass and Chinese Vice Commerce Minister Wang Shouwen are meeting Wednesday and Thursday for the first face-to-face trade discussions held by the two sides since June. Hanging over the meetings will be the next round of tariffs on $16 billion of each nation's exports to the other.

Back home,key benchmark indices settled with small gains on Tuesday, 21 August 2018 after a quiet session of trade. The barometer index, the S&P BSE Sensex, rose 7 points or 0.02% to settle at 38,285.75. The Nifty 50 index rose 19.15 points or 0.17% to settle at 11,570.90. The Sensex and the Nifty, both, attained record high on intraday as well as closing basis.

The trading activity on that day showed that the foreign portfolio investors (FPIs) bought shares worth a net Rs 254.25 crore on Tuesday, 21 August 2018, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 197.87 crore on Tuesday, 21 August 2018, as per provisional data. The Indian stock market had remained shut on Wednesday, 22 August 2018, on account of Bakri Id.

Among corporate news,shares of CreditAccess Grameen will debut on the bourses today, 23 August 2018.

Housing Development Finance Corporation (HDFC) said it entered into an agreement for acquiring 30.52 lakh shares, representing 25.01% share capital of Good Host Spaces from Manipal Integrated Services. The cost of acquisition for this transaction is Rs 69.50 crore. Good Host Spaces is engaged in the business of managing and operating student housing facilities and related services. The announcement was made after market hours on Tuesday, 21 August 2018.

Lupin announced that it has received tentative approval from the United States Food and Drug Administration (USFDA) to market a generic version of Bayer HealthCare Pharmaceuticals Inc.'s Natazia tablets. Lupin's Nudovra (Estradiol Valerate tablets, 3 mg and 1 mg and Estradiol Valerate and Dienogest tablets, 2 mg/2 mg and 2 mg/3 mg) tablets is the generic versional Bayer HealthCare Pharmaceuticals Inc.'s Natazia tablets. The announcement was made on Wednesday, 22 August 2018.

It is an estrogen/progestin combined oral contraceptive (COC), indicated for use by women to prevent pregnancy. Nudovra (Estradiol Valerate tablets, 3 mg and 1 mg and Estradiol Valerate and Dienogest tablets, 2 mg/2 mg and 2 mg/3 mg) tablets had annual sales of approximately $31.40 million in the US (IQVIA MAT June 2018).

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