Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 73.75 points at the opening bell.
The market may remain volatile as traders roll over positions in the futures & options (F&O) segment from the near month April 2016 series to May 2016 series. The near month April 2016 derivatives contract expire today, 28 April 2016.
In overseas markets, Asian stocks were mixed. Investors across the Asia-Pacific region were waiting for results from the Bank of Japan's two-day policy meeting, which began yesterday, 27 April 2016. Speculation is rife that the Japanese central bank will announce further easing of monetary policy. The BOJ in January decided to begin charging 0.1% interest on some bank reserves parked with the institution, in a bid to kick-start the economy and pull it out of two decades of deflation.
US stocks closed mostly higher yesterday, 27 April 2016, but the gains were checked by weakness in the technology sector.
Meanwhile, the Federal Reserve's two-day policy meeting concluded yesterday, 27 April 2016. The Fed's policy committee said it would leave interest rates unchanged, taking a wait-and-see stance on future rate increases. The Fed's signal that it was in no rush to raise rates relieved investors.
Closer home, foreign portfolio investors (FPIs) bought shares worth a net Rs 411 crore yesterday, 27 April 2016, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 295.07 crore yesterday, 27 April 2016, as per provisional data.
Among corporate news, ACC and Ambuja Cements will announce their Q1 results today, 28 April 2016. Idea Cellular announces its Q4 results today, 28 April 2016.
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Bharti Airtel's consolidated net profit rose 2.78% to Rs 1290.30 crore on 8.43% rise in total income to Rs 24983.10 crore in Q4 March 2016 over Q4 March 2015. The result was announced after market hours yesterday, 28 April 2016.
Bharti Airtel's board of directors approved the proposal to buyback the shares on a proportionate basis through a tender offer. The buy back shall be up to an aggregate amount not exceeding Rs 1434 crore at a price of Rs 400 per share translating into approximately 3.58 crore shares, representing 0.9% of the total paid up equity share capital of the company, subject to the regulatory and other approvals, if any.
HCL Technologies' consolidated net profit rose 0.3% to Rs 1926 crore on 3.4% rise in revenue to Rs 10698 crore in Q3 March 2016 over Q2 December 2015. The result was announced before market hours today, 28 April 2016.
Adani Ports and Special Economic Zone (APSEZ) said that the company has incorporated a wholly owned subdiairy company Adani Petroleum Terminal (APTPL) in India, which is registered with Registrar of Companies, Gujarat at Ahmedabad on 26 April 2016. APTPL belongs to LPG and LNG sector and is yet to commence its business operations, APSEZ said. The cost of acquisition is Rs 5 lakh in cash, APSEZ said.
Oil India said that Fitch Ratings has reaffirmed the credit rating for the company as "BBB-" with stable outlook. The announcement was made after market hours yesterday, 27 April 2016.
Exide Industries' net profit rose 29.04% to Rs 177.55 crore on 7.92% rise in total income to Rs 1784 crore in Q4 March 2016 over Q4 March 2015. The announcement was made after market hours yesterday, 27 April 2016.
Kansai Nerolac Paints net profit jumped 919.99% to Rs 615.77 crore on 10.29% rise in total income to Rs 897.45 crore in Q4 March 2016 over Q4 March 2015. On 30 March 2016, the company had sold its Perungudi fixed assets for Rs 537.86 crore. The profit of Rs 535.34 crore is disclosed as an exceptional item in Q4 March 2016. The announcement was made after market hours yesterday, 27 April 2016.
A divergent trend for various index constituents resulted in small gains for the two key benchmark indices yesterday, 27 April 2016. The barometer index, the S&P BSE Sensex, rose 56.82 points or 0.22% to settle at 26,064.12. The Nifty 50 index rose 17.25 points or 0.22% to settle at 7,979.90. The two key benchmark indices edged higher for the second day in a row. The small gains took the Nifty to 25-week closing high and the Sensex to its highest closing level in nearly 17 weeks.
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