Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 26.50 points at the opening bell. Positive global cues and robust inflow from foreign portfolio investors in Indian equities yesterday, 28 March 2017, may boost investors' sentiment.
Overseas, Asia markets were mostly higher, following gains in US equities on the back of a strong consumer confidence survey with markets awaiting the formal move by the UK to start an historic split with the European Union.
US markets rose yesterday, 28 March 2017, after the Consumer Board Consumer Confidence Index hit 125.60 in March, up from 116.1 in February, and the strongest reading since 2001.
British Prime Minister Theresa May will file formal Brexit divorce papers today, 29 March 2017, pitching the United Kingdom into the unknown and triggering years of uncertain negotiations that will test the endurance of the European Union, the media reported.
Closer home, foreign portfolio investors (FPIs) bought shares worth a net Rs 6415.38 crore yesterday, 28 March 2017, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 356.23 crore yesterday, 28 March 2017, as per provisional data.
On the economic front, the government has listed the Goods and Services Tax (GST) Bills for discussion and passage in the Lok Sabha today, 29 March 2017. Eight hours have been allocated by the Speaker for the discussion on the bills. Finance Minister Arun Jaitley had tabled the four GST-related bills - the Central Goods and Service Tax (CGST), Integrated Goods and Service Tax (IGST), Union Territories-GST (UT GST) and GST Compensation Bills - in Lok Sabha yesterday, 28 March 2017.
Among corporate news, Shares of Hindustan Zinc turn ex-dividend today, 29 March 2017 for special dividend of Rs 27.50 per share for the year ending 31 March 2017.
Coffee Day Enterprises said that step-down subsidiary of the company 'Way2Wealth Brokers Private Limited' has transferred entire 100% shares in its subsidiary namely Way2Wealth Illuminati Pte. to Alphagrep Securities, a fellow subsidiary with effect from 28 March 2017. The announcement was made after market hours yesterday, 28 March 2017.
Key benchmark indices clocked modest gains yesterday, 28 March 2017, in tandem with other global stock markets as the selloff stemming from recent US policy uncertainty abated. The barometer index, the S&P BSE Sensex, rose 172.37 points or 0.59% to settle at 29,409.52. The Nifty 50 index rose 55.60 points or 0.61% to settle at 9,100.80.
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