Market may open flat to slightly higher. Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could gain 4.50 points at the opening bell.
In overseas stock markets, Asian stocks witnessed mixed trend. Latest data showed that growth in the services sector in China moderated last month. The China Caixin services purchasing managers' index (PMI) came in at 51.8 for April, continuing to show expansion but marking a moderation from 52.2 in March. In China, the Shanghai Composite index was currently up 0.09%. In Hong Kong, the Hang Seng index was currently down 0.28%. US stocks closed lower yesterday, 4 May 2016, led by losses in energy and utilities stocks.
Closer home, foreign portfolio investors (FPIs) sold shares worth a net Rs 66.45 crore yesterday, 4 May 2016, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 78.80 crore yesterday, 4 May 2016, as per provisional data.
Among key corporate earnings, Eicher Motors and Hero MotoCorp are scheduled to announce their Q4 March 2016 results today, 5 May 2016.
Wipro and Qlik, a leader in visual analytics, have collaborated to offer advanced enterprise analytics solutions to joint customers across industry sectors. Wipro's competency in delivering end-to-end Business Intelligence (BI) solutions combined with QlikView, Qlik's market-leading data discovery solution, will widen the scope and scale of visualization solutions offered to customers, Wipro said in a statement.
As part of this expanded alliance, QlikView is now fully integrated into Wipro's SmartView-ServiceNXT analytics solution which converts complex data to easy visuals, leading to simplified decision making. This integrated environment will result in customized offerings that will help organizations model, optimize, forecast, budget, execute, manage, and measure product and customer performance across the globe at the click of a button. In addition, QlikView has been integrated into Wipro's SNIPE-BI Transformation Solution, which empowers enterprises to simplify the BI landscape by standardizing and setting up the right set of governance, processes and policies with robust migration frameworks, tools, and accelerators to assist in seamless transformation journeys.
Wipro and Qlik will jointly bring these solutions to market. The companies will collaborate and drive the resultant synergies to customers to deliver a self-service analytics culture. The companies have been jointly hosting several initiatives to upskill and cross-skill resources from Wipro, including Innovation Days and Qlik Academy courses. The announcement was made after market hours yesterday, 4 May 2016.
HDFC after trading hours yesterday, 4 May 2016, announced that it intends to raise Rs 1135 crore through private placement of senior secured redeemable non-convertible debentures. HDFC said that the coupon rate of debentures is 8.34% per annum with a tenor of 2 years and 10 months. The issue opens and closes on the same day on 6 May 2016. The object of the issue is to augment the long-term resources of the company.
Sun Pharmaceutical Industries after trading hours yesterday, 4 May 2016, announced that the two pivotal phase-3 clinical trials evaluating the efficacy and safety of the investigational IL-23p19 inhibitor antibody tildrakizumab (MK-3222) in patients with moderate-to-severe plaque psoriasis met their primary endpoints for both evaluated doses. The overall safety profile of tildrakizumab in both phase-3 clinical trials was consistent with the safety data observed in previously reported studies, the company said. The preparations for submission of a Biologics License Application to the US Food and Drug Administration (USFDA) are proceeding. The detailed findings from the phase-3 clinical trials will be presented at upcoming scientific meetings.
Data showing slowdown in growth in the India's services sector and weakness in global stocks triggered modest losses for Indian stocks yesterday, 4 May 2016. The Sensex fell 127.97 points or 0.51% to settle at 25,101.73, its lowest closing level since 11 April 2016.
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