Market may see higher opening

Market may edge higher in early trade. Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could gain 52 points at the opening bell.

Overseas, most Asian stocks edged higher despite weaker finish on Wall Street. US stocks declined yesterday, 7 February 2018, after trading in a wide range again, as interest rates climbed back toward multi-year highs.

Closer home, foreign portfolio investors (FPIs) sold shares worth a net Rs 1022.50 crore yesterday, 7 February 2018, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 461.19 crore yesterday, 7 February 2018, as per provisional data.

Among corporate news, Aurobindo Pharma's consolidated net profit rose 2.8% to Rs 595.01 crore on 11% growth in net sales to Rs 4268.99 crore in Q3 December 2017 over Q3 December 2016. The result was announced after market hours yesterday, 7 February 2018.

Among prominent companies, ACC and Bhel are scheduled to announce October-December 2017 quarterly results today, 8 February 2018.

The stock market closed the lackluster trading session with modest losses yesterday, 7 February 2018. The Sensex had fallen 113.23 points or 0.33% to settle at 34,082.71, its lowest closing level since 4 January 2018.

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