Market may rise on positive Asian cues

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 43 points at the opening bell on positive Asian cues.

Overseas, Asian shares edged higher after North Korean dictator Kim Jong Un decided to hold a party over the weekend rather than launch another missile. The United States and its allies had been bracing for another long-range missile launch by North Korea in time for the 69th anniversary of North Korea's founding on Saturday, 9 September 2017.

Investors, however, remained cautious over the possible economic impact of Hurricane Irma in the US as it chewed its way up the Florida coast, knocking out electricity to 3 million homes and businesses statewide.

US equity benchmarks ended Friday, 8 September 2017, on a mixed note, with both the S&P 500 and the Nasdaq Composite in the red but the Dow Jones Industrial Average slightly higher as Hurricane Irma made landfall in Florida over the weekend. Tensions with North Korea also weighed on investors' minds, as the market fears the country will test a ballistic missile to commemorate its founding on Saturday. The S&P 500 slipped 0.1% to 2,462. The tech-focused Nasdaq Composite Index weakened 0.7% to 6,357. The Dow finished the week more or less flat at 21,789.

Closer home, foreign portfolio investors (FPIs) sold shares worth a net Rs 256.42 crore on Friday, 8 September 2017, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 487.97 crore on Friday, 8 September 2017, as per provisional data.

Among corporate news, Bharat Heavy Electricals announced that it has fixed 30 September 2017 as the record date for the purpose of issuance of 1:2 bonus issue. The announcement was made after market hours on Friday, 8 September 2017.

Key benchmark indices settled with small gains on Friday, 8 September 2017. The barometer index, the S&P BSE Sensex, rose 24.78 points or 0.08% to settle at 31,687.52. The Nifty 50 index rose 4.90 points or 0.05% to settle at 9,934.80.

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