Shares may open higher on positive global cues

Market is seen opening higher tracking positive leads from Asian markets and overnight gains on the Wall Street. Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 27 points at the opening bell.

Overseas, most Asian stocks were trading higher following decent gains on Wall Street. US stocks ended higher on Wednesday as investors awaited updates on efforts to pass tax reform in Washington and as President Donald Trump toured Asia, highlighting lingering tensions with North Korea in a speech. The Dow Jones Industrial Average rose 0.03%, the S&P 500 index rose 0.14%, and the tech-oriented Nasdaq Composite Index advanced 0.32%.

Closer home, foreign portfolio investors (FPIs) sold shares worth a net Rs 3838.27 crore yesterday, 8 November 2017, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 3038.16 crore yesterday, 8 November 2017, as per provisional data.

Among corporate news, ICICI Bank said that the committee of executive directors of the bank at its meeting approved the proposal for domestic fund raising by way of issuance of senior unsecured long term bonds/Basel III compliant unsecured subordinated perpetual additional Tier 1 bonds in single/multiple tranches on private placement basis. The announcement was made after market hours yesterday, 8 November 2017.

Bharti Airtel announced enhanced benefits on select postpaid plans for its customers. The announcement was made after market hours yesterday, 8 November 2017.

Key benchmark indices registered modest losses yesterday, 8 November 2017, led by selling in metal and oil sector shares. The barometer index, the S&P BSE Sensex, fell 151.95 points or 0.46% to settle at 33,218.81. The Nifty 50 index lost 47 points or 0.45% to settle at 10,303.15.

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