Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 17 points at the opening bell.
Overseas, Asian stocks fell after North Korea on Sunday said it tested a hydrogen bomb with unprecedentedly big power, raising geo-political tensions between North Korea and US. Meanwhile, US President Donald Trump threatened to increase economic sanctions and halt trade with any nation doing business with North Korea.
US equities finished higher on Friday, 1 September 2017 on expectations that a weaker-than-expected rise in August nonfarm payrolls could dull the Federal Reserve's desire to further raise borrowing costs in 2017.
In economic data, the US economy added 156,000 jobs in August. The unemployment rate stood at 4.4% in August, rising by 0.1 percentage point from July. Average hourly wages increased by 0.1% in August from a 0.3% increase in the previous month.
In other economic data, the closely watched Institute for Supply Management manufacturing index jumped to a six-year high in August. The University of Michigan said its final gauge of consumer sentiment for August came in at 96.8 versus a preliminary reading of 97.6.
Back home,Key benchmark indices settled with modest gains on Friday, 1 September 2017. The Sensex rose 161.74 points or 0.51% to settle at 31,892.23, its highest closing level since 8 August 2017.
The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 832.81 crore on Friday, 1 September 2017, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 731.72 crore on Friday, 1 September 2016, as per provisional data.
Among corporate news,Hero MotoCorp said its two-wheeler sales rose 10% to 6.78 lakh units in August 2017 over August 2016, riding on popular demand for its exciting range of two-wheelers. The high sales in August have ensued owning to the early arrival of the festival season this year. The company is poised to further consolidate its market leadership by meeting customer expectations with adequate inventory of its range of popular motorcycles and scooters at dealerships across the country. The announcement was made after market hours on Friday, 1 September 2017.
Coal India reported production and offtake figures for August 2017. Coal India said that production of the company and its subsidiary companies on provisional basis was 102% of targeted production at 37.63 million tonnes in August 2017. Offtake was 102% of target at 43.75 million tonnes in August 2017. The announcement was made after market hours on Friday, 1 September 2017.
L&T said its subsidiary L&T Infrastructure Development Projects (L&T IDPL) proposes to establish an infrastructure investment trust in the name of IndInfravit Trust under the provisions of the InvIT Regulations. In this regards, an application for registration of the InvIT as an infrastructure investment trust was filed by L&T IDPL with Securities and Exchange Board of India (SEBI) on 1 September 2017. The announcement was made on Saturday, 2 September 2017.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
