Market is seen opening higher after overnight rally on the Wall Street. Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 10.50 points at the opening bell.
In overseas market, Asian shares were trading on a mixed note. China shares hovered near bear-market territory, extending an early-year selloff. China's Shanghai Composite was down 1.20%. US stocks rallied sharply yesterday, 14 January 2016, as a rebound in oil prices allowed the main indexes to claw back much of the steep fall seen in the previous session.
Closer home, foreign portfolio investors (FPIs) sold shares worth a net Rs 1221.97 crore yesterday, 14 January 2016, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 1526.22 crore yesterday, 14 January 2016, as per provisional data.
Among corporate news, Hindustan Unilever and Zee Entertainment Enterprises are scheduled to announce their Q3 December 2015 results today, 15 January 2016.
NMDC in its latest price review has kept prices of lump ore unchanged at Rs 1,800 per tonne. The state-run iron ore miner also kept the prices of iron ore fines unchanged at Rs 1,560 per tonne. The prices are excluding royalty, taxes, DMF, duties, levies etc. The announcement was made after market hours yesterday, 14 January 2016.
Losses for banking and metal sector stocks along with index heavyweights L&T and Reliance Industries (RIL) pushed key benchmark indices lower yesterday, 14 January 2016. The barometer index, the S&P BSE Sensex, fell 81.14 points or 0.33% to settle at 24,772.97. The 50-unit Nifty 50 index fell 25.60 points or 0.34% to settle at 7,536.80. The Sensex and the Nifty, both, staged a strong rebound from an initial steep slide triggered by a fresh setback in global stocks. The Sensex, however, failed to retain the psychological 25,000 level. The index pierced that mark for a brief period in intraday trade. The broad market depicted weakness.
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