Market may open slightly higher

The market may edge higher in early trade on firm Asian stocks. Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could gain 4.50 points at the opening bell. Asian stocks rose today, 19 September 2014, as data yesterday, 18 September 2014, showed fewer Americans filed for jobless claims.

Among news of prominent companies, Reliance Jio Infocomm (Reliance Jio), a subsidiary of Reliance Industries (RIL) and GTL Infrastructure after market hours on Thursday, 18 September 2014 announced the signing of a Master Services Agreement (MSA) for tower infrastructure sharing. The agreement with GTL Infra will help Reliance Jio accelerate the roll out of pan India next-generation voice and data services, Reliance Jio said.

Maruti Suzuki India (MSIL) after market hours on Thursday, 18 September 2014 said it has appointed R S Kalsi as the head of Domestic Marketing and Sales. Kalsi is currently Executive Director, heading the parts, accessories and outbound logistics divisions of the company, MSIL said in a statement.

Shashank Srivastava, Executive Director, will continue to head International Marketing for the company and both Kalsi and Srivastava will report to the Managing Director, MSIL said. These changes follow the resignation of Mayank Pareek, Senior Executive Officer (Marketing and Sales) from the company.

With these organisational changes Maruti Suzuki will continue to strengthen its relationship with customer and partners, the company said.

Cipla after market hours on Thursday, 18 September 2014 announced that it has signed an agreement with Salix Pharmaceuticals, Inc., a US-based speciality pharmaceutical company. Under the agreement, Cipla has granted Salix exclusive rights under certain patent applications in the 'Rifaximin Complexes' patent family controlled by Cipla.

The grant is on a worldwide basis, excluding the countries of Asia (other than Japan) and Africa, Cipla said. Salix is required to make an up-front payment and, upon achievement, additional regulatory milestone payments to Cipla in respect of the new license agreement regarding the 'Rifaximin Complexes' patent rights. Salix also will pay a royalty on net sales of products covered by the 'Rifaximin Complexes' patents licensed to Salix, the company said.

Tech Mahindra after market hours on Thursday, 18 September 2014 announced that it will work together with Bosch Software Innovations to develop an ecosystem to enable innovative solutions for the connected world and connected enterprises.

Zee Entertainment Enterprises replaces United Spirits as a constituent in the NSE's 50-unit CNX Nifty Index today, 19 September 2014.

Key indices jumped on Thursday, 18 September 2014, after the US Federal Reserve at the end of a two-day policy meeting on Wednesday, 17 September 2014, maintained a commitment to keep US interest rates near zero for a "considerable time". The S&P BSE Sensex garnered 480.92 points or 1.81% to settle at 27,112.21 on that day, its highest closing level since 9 September 2014.

The provisional data released by the stock exchanges after trading hours on Thursday, 18 September 2014, showed that foreign portfolio investors (FPIs) sold shares worth a net Rs 9.57 crore on that day.

Asian stocks rose today, 19 September 2014, as data showed fewer Americans filed for jobless claims. Key benchmark indices in Singapore, Hong Kong, Indonesia, Taiwan, Japan and South Korea rose by 0.09% to 1.45%. China's Shanghai Composite fell 0.18%.

US stocks rose on Thursday, 18 September 2014, a day after the US Federal Reserve kept intact its pledge to keep interest rates low, providing a backstop for investors that helped lift both the Dow Jones Industrial Average and the S&P 500 index to record highs.

US housing starts and permits fell in August, but upward revisions to the prior month's data indicated gradual improvement in the housing market.

Separately, American jobless claims fell by 36,000 to 280,000 in the period ended 13 September 2014, the Labor Department said yesterday. Those already collecting unemployment benefits fell to a more than seven-year low.

In UK, Scotland has voted on whether to stay within the United Kingdom or break the 307-year-old union in a finely balanced independence referendum with global consequences. Its verdict should be clear today, 19 September 2014.

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