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Market may advance on strong global cues

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Market may open higher mirroring positive cues from Asian markets and overnight rally on the Wall Street. Trading of index futures on the stock exchange indicates that the Nifty could rise 24 points at the opening bell.

The all-general consumer price index (CPI) inflation eased marginally to five-month low of 4.28% in March 2018, compared with 4.44% in February 2018.

India's industrial production continued to record a healthy growth for the fourth straight month at 7.1% in February 2018 over February 2017. The manufacturing sector's production surged 8.7% in February 2018, contributing to the overall growth in industrial production. However, the growth of moderated to 4.5%, while the output declined 0.3% in February 2018.

Overseas, Asian shares were trading higher after US market gained in the last session as geopolitical worries ebbed. US stocks closed sharply higher on Thursday, as geopolitical concerns appeared to fade after tweeted that a military strike on may not be imminent. Escalating tensions over the Middle Eastern country were seen as a contributor to weakness in Wednesday's session.

Closer home, foreign portfolio investors (FPIs) bought shares worth a net Rs 368.90 crore yesterday, 12 April 2018, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 615.81 crore yesterday, 12 April 2018, as per provisional data.

Among corporate news, IT announces its Q4 results today, 13 April 2018.

Domestic stocks logged modest gains yesterday, 12 April 2018. The barometer index, the BSE Sensex, rose 160.69 points or 0.47% to settle at 34,101.13. The index rose 41.50 points or 0.40% to settle at 10,458.65. The Sensex reclaimed the crucial 34,000 level in intraday trade. Extending gains for the sixth straight trading session, the Sensex and the Nifty, both, settled at their highest closing level in over six weeks.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, April 13 2018. 08:00 IST