Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 8.50 points at the opening bell tracking fall in most Asian stocks.
Overseas, most Asian stocks declined after North Korea fired a missile over northern Japan. North Korea fired a missile early today, 29 August 2017 that flew over Japan and landed in the Pacific waters off the northern region of Hokkaido, South Korea and Japan, in a sharp escalation of tensions on the Korean peninsula.
On Monday, 28 August 2017, US shares were mixed as investors tried to assess the flooding damage caused by Tropical Storm Harvey, powerful hurricane to strike Texas in more than 50 years when it came ashore last week.
An early look at US trade patterns in July points to a wider deficit. The advanced trade gap in goods services are excluded widened by nearly 1.8% to $65.1 billion in July, the Commerce Department said. Both exports and imports declined, but exports dropped at a faster pace.
Oil futures dropped yesterday, 28 August 2017, to their lowest finish in about a month, with traders expecting refinery shutdowns in the Gulf of Mexico region due to storm system Harvey to cause an excess in crude supplies.
Back home, trading for the week after an extended weekend due to a holiday started on a firm note as key benchmark indices settled with modest gains yesterday, 28 August 2017. The Sensex rose 154.76 points or 0.49% to settle at 31,750.82, its highest closing level since 17 August 2017.
Foreign portfolio investors (FPIs) sold shares worth a net Rs 124.74 crore yesterday, 28 August 2017, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 476.26 crore yesterday, 28 August 2017, as per provisional data.
More From This Section
Among corporate news, NTPC will be watched. The government will sell 5% stake in NTPC at a floor price of Rs 168 per share through a two-day offer-for-sale (OFS) beginning today, 29 August 2017, with an option to issue a similar number of shares in case of over subscription. The sale of 41.23 crore shares, or 5% equity, would fetch about Rs 7000 crore to the exchequer. The two-day OFS would open for institutional investors today, 29 August 2017, and retail investors would get to bid tomorrow, 30 August 2017. The offer shall take place during trading hours on a separate window of the stock exchanges on T day ie 29 August 2017 commencing at 09:15 IST and shall close on the same date at 15:30 IST. The announcement was made after market hours yesterday, 28 August 2017.
ACC, Bank of Baroda, Tata Power Company and Tata Motors DVR will be excluded from the NSE Nifty 50 index, according to a media statement issued on the National Stock Exchange after market hours yesterday, 28 August 2017. At the same time, Bajaj Finance, Hindustan Petroleum Corporation (HPCL) and UPL will become part of the index. Changes will be effective from 29 September 2017.
IT major Infosys said that some of the promoters would participate in the upcoming share buyback of the company. The IT firm had announced a Rs 13000-crore share buyback on 19 August 2017, a day after CEO and MD Vishal Sikka resigned from the company. The company would buy back up to 11.30 crore shares aggregating up to 4.92% of the paid-up equity capital via tender route at a price of Rs 1,150. The announcement was made after market hours yesterday, 28 August 2017.
Bharti Airtel announced after market hours yesterday, 28 August 2017, that the proposed acquisition of Tikona Digital Networks has now been completed. With this, Tikona Digital Networks has become a wholly owned subsidiary of Bharti Airtel. The transaction for the trading of the spectrum in Rajasthan circle is still pending for approval from the department of telecom (DoT).
Reliance Industries proposed to make an offer for issuance of non-convertible debentures (NCDs series A) (1st tranche) on private placement basis on 31 August 2017 aggregating Rs 5000 crore, to be listed on the Stock Exchanges. The net proceeds of the issue will be utilised inter-alia for refinancing of existing borrowings and for any other purpose in the ordinary course of business. The announcement was made after market hours yesterday, 28 August 2017.
Powered by Capital Market - Live News