Key indices may extend yesterday's strong gains triggered by sharp gains in Asian stocks. Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could gain 115 points at the opening bell.
In overseas markets, Asian stocks rose sharply today, 9 September 2015 after a strong finish for the US stocks overnight.
Back home, foreign portfolio investors (FPIs) sold shares worth a net Rs 659.67 crore yesterday, 8 September 2015, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 447.41 crore yesterday, 8 September 2015, as per the provisional data.
A firm trend in global markets aided the upmove on the domestic bourses yesterday, 8 September 2015. The barometer index, the S&P BSE Sensex, jumped 424.06 points or 1.70% to settle at 25,317.87.
Among corporate news, FMCG major Hindustan Unilever (HUL) after market hours yesterday, 8 September 2015, said that the company has yesterday, 8 September 2015 signed an agreement for the sale and transfer of its bread and bakery business under the "Modern" brand to Nimman Foods, an investee company of the Everstone Group, for an undisclosed consideration. The decision is in line with the company's strategy to exit non-core businesses, while continuing to drive its growth agenda in the core packaged foods business.
HUL's bread and bakery business consists of a full range of white and sweet breads, health and wellness breads and value added bakery products such as cakes, muffins, buns, pavs, cream rolls under the "Modern" brand name. The business currently has six own operating manufacturing units and a network of franchisees across India.
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