Market may open with decent gains

Key benchmark indices may open with decent gains as trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could gain 58.15 points at the opening bell.

In overseas stock markets, Asian stocks were mixed amid the first US presidential debate between Democrat Hillary Clinton and Republican Donald Trump. US stocks extended losses yesterday, 26 September 2016 as worries about Germany's Deutsche Bank weighed on the financial sector and as investors awaited the US presidential debate.

Closer home, foreign portfolio investors (FPIs) sold shares worth a net Rs 206.40 crore yesterday, 26 September 2016, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 113.35 crore yesterday, 26 September 2016, as per provisional data.

Among corporate news, Hero MotoCorp said that it has augmented premium portfolio with the next-gen 'Achiever - 150' aiming to expand its presence in the premium segment. The motorcycle is competitively priced at Rs 62,800 ex-showroom Delhi for the disc variant and Rs 61,800 for the drum variant. The company has launched limited edition Achiever 150 to commemorate the 7 crore milestone of cumulative production. The announcement was made after market hours yesterday, 26 September 2016.

Meanwhile, key benchmark indices dropped on first trading day of the week yesterday, 26 September 2016 on weak global stocks. The Sensex dropped 373.94 points or 1.3% to settle at 28,294.28, its lowest closing level since 29 August 2016.

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