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Market may open in positive zone

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Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 32 points at the opening bell.

Overseas, Asian stocks were mixed Tuesday amid renewed tensions between the U.S. and China after Washington said tariffs on Chinese goods will rise on Friday. US stocks closed on Monday with tepid losses in the three major indexes, with much of their striking slumps earlier gradually eroded throughout the day.

Back home,key benchmark indices dropped sharply yesterday, 6 May 2019 as fresh fears of a US-China trade war spooked global stock markets. The Sensex fell 362.92 points or 0.93% to settle at 38,600.34. The Nifty 50 index fell 114 points or 0.97% to settle at 11,598.25.

The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 948.98 crore yesterday, 6 May 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 89.89 crore yesterday, 6 May 2019, as per provisional data.

Among corporate news,HDFC Bank said that its board will consider stock split on 22 May 2019. The board will mull a proposal to split one equity share of face value of Rs 2 each into two equity shares of face value of Re 1 each. The announcement was made after market hours yesterday, 6 May 2019.

On a consolidated basis, Bharti Airtel's net profit rose 29.31% to Rs 107.20 crore on 6.23% increase in net sales to Rs 20,602.20 crore in Q4 March 2019 over Q4 March 2018. The result was announced after market hours yesterday, 6 May 2019.

ICICI Bank's net profit fell 4.99% to Rs 969.06 crore on 4.87% increase in total income to Rs 20,913.82 crore in Q4 March 2019 over Q4 March 2018. The result was announced after market hours yesterday, 6 May 2019.

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

First Published: Tue, May 07 2019. 08:31 IST
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