Market may open with decent gains

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could gain 80.25 points at the opening bell amid mixed Asian cues. Trading could be volatile in the near future as traders roll over positions in the futures & options (F&O) segment from the near month September 2017 series to October 2017 series. The near month September 2017 derivatives contract expire tomorrow, 28 September 2017.

Overseas, Asian stocks were mixed. Annual profits at China's industrial companies rose 24% in August, accelerating from the previous month in an indication economic growth remains in good heart even as signs emerge of fading momentum following a robust first half.

US stock-market indexes relinquished earlier gains to close little changed yesterday, 26 September 2017, with the Dow Industrials Average extending a losing streak to a fourth session. Investors appeared to shrug off comments from Federal Reserve Chairwoman Janet Yellen, who cautioned against moving too slowly on interest rates. Yellen said there is a risk that the labor market could become overheated, causing an inflation problem down the road.

Oil futures finished lower yesterday, 26 September 2017, on expectations US data will show a fourth consecutive weekly rise in domestic crude inventories. November Brent fell 58 cents, or 1%, to $58.44 a barrel on ICE Futures Europe.

Back home, key benchmark indices settled with small losses in a range-bound session of trade yesterday, 26 September 2017. The Sensex fell 26.87 points or 0.08% to settle at 31,599.76, its lowest closing level since 29 August 2017.

Foreign portfolio investors (FPIs) sold shares worth a net Rs 1915.54 crore yesterday, 26 September 2017, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 1537.10 crore yesterday, 26 September 2017, as per provisional data.

Among corporate news, IT major TCS said that its UK-based subsidiary, Diligenta, secured a 15 year partnership with Scottish Widows, Lloyds Banking Group's Life and Pensions business. Diligenta is a leading life and pensions BPS provider in the UK. Under the terms of this agreement, Diligenta will support Scottish Widows to provide end-to-end policy administration services for its 4 million heritage customers. Diligenta will provide Scottish Widows these services based on TCS BaNCS, its digitally-enabled, end-to-end policy administration platform, to manage its assets in life, pensions and investment products. The announcement was made after market hours yesterday, 26 September 2017.

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