Market may open with small gains

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could gain 33.30 points at the opening bell despite weakness in Asian stocks.

Trading could be volatile this week 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 on Thursday, 28 September 2017.

Overseas, most Asian stocks dropped as investors digested elections in Germany and New Zealand over the weekend. German Chancellor Angela Merkel's Christian Democratic Union party looked set to remain the largest party in the next German parliament, according to a Sunday, 24 September 2017, exit poll. Elsewhere, the New Zealand election saw Prime Minister Bill English's National Party win the most votes, although it came short of securing a majority in parliament.

Japanese manufacturing activity expanded in September at the fastest pace in four months. The Markit/Nikkei Japan Manufacturing Purchasing Managers' Index (PMI) rose to a seasonally adjusted 52.6 in September from a final 52.2 in August.

US stocks bounced late in the session, paring early losses and ending little changed on Friday, 22 September 2017, as investors shook off the latest bellicosities between North Korean and US leaders. In the latest economic data, a read on manufacturing inched higher in September, while a read on the services sector was down slightly.

Back home, market registered strong losses in the last trading session of the week on Friday, 22 September 2017, amid geopolitical tensions. The Sensex lost 447.60 points or 1.38% to settle at 31,922.44, its lowest closing level since 11 September 2017.

Foreign portfolio investors (FPIs) sold shares worth a net Rs 1241.73 crore on Friday, 22 September 2017, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 521.17 crore on Friday, 22 September 2017, as per provisional data.

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