Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 11.50 points at the opening bell on drop in Asian stocks.
Overseas, Asian stocks stepped back from a record high as the region's resource shares were dented by falling oil and commodity prices while digital currencies tumbled on worries about tighter regulations.
Japanese orders for machinery surged to their highest level in a decade in November. Cabinet Office data out on Wednesday showed core orders, a highly volatile data series regarded as an indicator of capital spending in the coming six to nine months, grew 5.7% in November from the previous month.
US benchmark indices pulled back from lifetime highs set earlier in the session to end mostly lower yesterday, 16 January 2018, on likely profit booking amid concerns over the possibility of a government shutdown, reports said. On the data front, the Empire State manufacturing survey slipped to 17.7 in January from a revised 19.6 in December, the New York Fed said.
Among corporate news back home, Sun Pharmaceutical Industries announced that its wholly-owned subsidiaries have reached an agreement with Ironwood Pharmaceuticals, Inc. and Allergan plc (together known as the companies) to resolve the patent litigation regarding submission of an Abbreviated New Drug Application (ANDA) for a generic version of Linzess (Linaclotide capsules) in the US. The announcement was made after market hours yesterday, 16 January 2018.
Pursuant to the terms of the settlement, the companies will grant, the wholly owned subsidiaries of Sun Pharma, a license to market a generic version of Linzess in the United States beginning 1 February 2031 (subject to US drug regulator's approval) or earlier under certain circumstances. As a result of the settlement, all Hatch-Waxman litigation between Sun Pharma and the companies, regarding the Linzess patents, will be dismissed. Additional details regarding the settlement were not disclosed. The agreement is subject to customary regulatory approvals.
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Adani Power, Hindustan Unilever and Zee Entertainment Enterprises, among others, will declare October-December 2017 results today, 17 January 2018.
Key benchmark indices settled with modest losses yesterday, 16 January 2018, on profit booking. The Sensex lost 72.46 points or 0.21% to settle at 34,771.05, its lowest closing level since 12 January 2018.
Foreign portfolio investors (FPIs) bought shares worth a net Rs 693.17 crore yesterday, 16 January 2018, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 246.38 crore yesterday, 16 January 2018, as per provisional data.
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