Market may open slightly higher

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 8 points at the opening bell.

Overseas, Asian stocks were trading higher. US stocks rose in thin volume yesterday, 20 August 2018 as investors held onto hopes for an easing of the trade war.

Back home,domestic stocks logged strong gains yesterday, 20 August 2018 on steady buying demand in index heavyweights Larsen & Toubro, Reliance Industries and HDFC. The barometer index, the S&P BSE Sensex, gained 330.87 points or 0.87% at 38,278.75. The Nifty 50 index gained 81 points or 0.71% at 11,551.75. Positive global stocks boosted sentiment on the domestic bourses. The Sensex and the Nifty, both, attained record closing high levels.

The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 483.04 crore yesterday, 20 August 2018, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 593.22 crore yesterday, 20 August 2018, as per provisional data.

Among corporate news,HCL Technologies has fixed Friday, 31 August 2018 as the record date for the purpose of determining the entitlement and the names of the equity shareholders who shall be eligible to participate in the buyback. The announcement was made after market hours yesterday, 20 August 2018.

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