Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could gain 57.50 points at the opening bell tracking strength in Asian markets and overnight gains on the Wall Street.
In overseas stock markets, Asian stocks edged higher tracking overnight gains on Wall Street. US stocks closed higher yesterday, 3 February 2016 on sharp rebound in crude oil prices.
Closer home, foreign portfolio investors (FPIs) sold shares worth a net Rs 357.13 crore yesterday, 3 February 2016, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 144.78 crore yesterday, 3 February 2016, as per provisional data released by the stock exchanges.
Among corporate news, TCS announced after market hours yesterday, 3 February 2016 that Investec India, a part of wealth management giant Investec, has gone live on TCS BaNCS to power its front and back office operations in India.
Among prominent results, Bajaj Auto and Tata Steel are scheduled to announce their Q3 December 2015 results today, 4 February 2016.
Shares of public sector oil marketing companies (PSU OMCs), oil exploration and production (E&P) firms and aviation stocks will be in focus after sharp rebound in oil prices. Brent for April settlement was currently up 32 cents at $35.36 a barrel. The contract had surged $2.32 a barrel or 7.09% to settle at $35.04 a barrel during previous trading session.
Metal, power and oil sector stocks led losses as key benchmark indices edged lower for the third day in a row yesterday, 3 February 2016. The Sensex lost 315.68 points or 1.29% to settle at 24,247.21, its lowest closing level since 21 January 2016.
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