Shares may decline on mixed Asian cues

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 27 points at the opening bell, tracking mixed cues from other Asian stocks.

Overseas, Asian shares were mixed as technology shares mirrored a sell-off in US tech companies.

In US, the Dow closed at a record as investors cheered the weekend passage of the Senate version of a sweeping overhaul of the US tax code. However, the S&P 500 and the Nasdaq finished lower as large-capitalization technology names took a beating. The Dow Jones Industrial Average added 0.2%. The S&P 500 shed 0.1%. The Nasdaq Composite Index fell 1.1%.

Closer home, foreign portfolio investors (FPIs) sold shares worth a net Rs 333.59 crore yesterday, 4 December 2017, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 776.18 crore yesterday, 4 December 2017, as per provisional data.

Markit Economics will unveil the result of a monthly survey on the performance of India's services sector in November 2017 today, 5 December 2017.

Among corporate news, interest rate sensitive stocks will be in focus as the Reserve Bank of India's (RBI) monetary policy committee (MPC) will meet today, 5 December 2017 and tomorrow, 6 December 2017, for the fifth bi-monthly monetary policy decision for FY 2018. The resolution of the MPC will be placed on the RBI website at 14:30 IST tomorrow, 6 December 2017.

Key benchmark indices settled with small gains yesterday, 4 December 2017, after witnessing volatility in intraday trade. The barometer index, the S&P BSE Sensex, rose 36.78 points or 0.11% to settle at 32,869.72. The Nifty 50 index rose 5.95 points or 0.06% to settle at 10,127.75.

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