Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 33 points at the opening bell.
Overseas, Asian stocks mostly rose following a higher finish on Wall Street last Friday as investors awaited developments on proposed US-China trade talks, while keeping a wary eye on the Chinese yuan and Turkish lira. US stocks rose on Friday on strength in technology hardware shares and optimism for a resolution in America's trade dispute with China.
Back home,the domestic equity market registered smart gains Friday. The barometer index, the S&P BSE Sensex, rose 284.32 points or 0.75% to settle at 37,947.88. The Nifty 50 index rose 85.70 points or 0.75% to settle at 11,470.75.
The trading activity on that day showed that the foreign portfolio investors (FPIs) bought shares worth a net Rs 147.31 crore on Friday, 17 August 2018, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 151.89 crore on Friday, 17 August 2018, as per provisional data.
Among corporate news,Larsen & Toubro (L&T) announced that its board will meet on 23 August 2018, to consider a proposal for buyback of equity shares of the company. The announcement was made on Saturday, 18 August 2018.
IT major Infosys said that its board has accepted the resignation of M D Ranganath as the chief financial officer and key managerial personnel of the company. Ranganath will continue in his current position as chief financial officer till 16 November 2018. The board will immediately commence the search for the next chief financial officer. The announcement was made on Saturday, 18 August 2018.
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