Market to trade higher at open

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could gain 22.45 points at the opening bell on firmness in most Asian stocks.

Trading could be volatile today, 26 October 2017, as traders roll over positions in the futures & options (F&O) segment from the near month October 2017 series to November 2017 series. The near month October 2017 derivatives contract expire today, 26 October 2017.

Among corporate news, Hindustan Unilever (HUL) reported a 16% growth in comparable net profit at Rs 1276 crore in Q2 September 2017 over Q2 September 2016. Net sales rose 6.5% to Rs 8199 crore in Q2 September 2017 over Q2 September 2016. Profit after tax before exceptional items grew by 14% to Rs 1236 crore in Q2 September 2017 over Q2 September 2016. Earnings before interest, tax, depreciation and amortization (EBITDA) rose 20% to Rs 1682 crore in Q2 September 2017 over Q2 September 2016. The result was announced after market hours yesterday, 25 October 2017.

While transition to GST impacted trade purchases in early part of the quarter, consumer offtake remained stable, HUL said. Trade conditions continue to improve and the wholesale channel is steadily normalizing, it added.

HUL's board of directors declared interim dividend of Rs 8 per share for the year ending 31 March 2018 (FY 2018).

Harish Manwani, Chairman of HUL, said that the company was able to swiftly implement GST and pass on the net benefit through price reductions to consumers across the country.

Wipro said that it has completed the acquisition of Cooper Software, Inc, a design and business strategy consultancy headquartered in San Francisco. The impact of Cooper acquisition is expected to reflect in the financials of the company for the quarter ending 31 December 2017. The announcement was made after market hours yesterday, 25 October 2017.

Yes Bank will announce Q2 September 2017 result today, 26 October 2017.

Key benchmark indices settled with solid gains yesterday, 25 October 2017, as various measures taken by the government to spur economy including capitalisation of public sector banks and massive road building program boosted sentiment. The Sensex jumped 435.16 points or 1.33% to settle at 33,042.50, a record closing high.

Foreign portfolio investors (FPIs) bought shares worth a net Rs 3582.50 crore on yesterday, 25 October 2017, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 155.71 crore yesterday, 25 October 2017, as per provisional data.

Overseas, most Asian stocks rose after Wall Street shares pulled back from record highs overnight. US stocks fell yesterday, 25 October 2017, on a batch of soft quarterly earnings, with the Dow Jones Industrial Average suffering its worst day in seven weeks after rising to a record peak the previous session.

Among macro data, durable-goods orders in US rose 2.2% in September. Excluding transportation, orders increased 0.7%. New-home sales ran at a 667,000 annual pace in September, an 18.9% increase compared with August, and a 17% increase compared with a year ago.

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