Stocks may open lower

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 34 points at the opening bell.

Overseas, Asian stocks fell with technology stocks leading the way following a downbeat outlook from Taiwan Semiconductor Manufacturing Co. Inflation remained weak in Japan. Core consumer prices rose 0.9% from a year earlier in March, versus February's reading of 1%. US stocks ended lower yesterday, 19 April 2018 with consumer staples, real estate and technology shares leading the losses.

Meanwhile, the Organization of the Petroleum Exporting Countries (OPEC) meets later today, 20 April 2018 to discuss production caps. Oil futures were down slightly in Asia after hitting a 3-year high this week.

Back home,key benchmark indices settled higher yesterday, 19 April 2018 on positive global cues. The barometer index, the S&P BSE Sensex, rose 95.61 points or 0.28% to settle at 34,427.29. The Nifty 50 index rose 39.10 points or 0.37% to settle at 10,565.30. The Sensex and the Nifty, both, settled at their highest closing levels in more than seven weeks.

The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 624.99 crore yesterday, 19 April 2018, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 448.61 crore yesterday, 19 April 2018, as per provisional data.

Among corporate news,Indiabulls Housing Finance declares its Q4 March 2018 results today, 20 April 2018.

On a consolidated basis, IT major TCS' net profit rose 5.81% to Rs 6925 crore on 3.79% increase in net sales to Rs 32075 crore in Q4 March 2018 over Q3 December 2017. Net profit fell 1.81% to Rs 25,880 crore on 4.36% increase in net sales to Rs 123104 crore in the year ended March 2018 over the year ended March 2017. The result was announced after market hours yesterday, 19 April 2018.

The board of TCS recommended bonus issue of equity shares in the ratio of 1 equity share of Re 1 each for every 1 equity share of Re 1 each.

Commenting on the Q4 performance, Rajesh Gopinathan, CEO and MD, said strong demand in digital across all industry verticals and large transformational deal wins have made this one of our best fourth quarters In recent years. The strong exit allows the company to start the new fiscal on a confident note.

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