Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 37.50 points at the opening bell, tracking positive cues from the Asian market and overnight gains in the US market.
Overseas, most Asian stocks edged higher today, 5 January 2017, underpinned by a firm closing at the Wall Street. US stocks closed just shy of record levels yesterday, 4 January 2017, following the release of the Federal Reserve's policy minutes from its December meeting and a strong showing in auto sales.
The Fed said interest-rate hikes may come at a faster-than-expected pace, according to minutes from the Federal Open Market Committee's 13-14 December 2016 meeting.
Closer home, foreign portfolio investors (FPIs) sold shares worth a net Rs 800.71 crore yesterday, 4 January 2017, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 427.09 crore yesterday, 4 January 2017, as per provisional data.
Key benchmark indices settled almost unchanged as slide in Reliance Industries (RIL) was offset by gains in ITC and Bharti Airtel yesterday, 4 January 2017. The barometer index, the S&P BSE Sensex, fell 10.11 points or 0.04%, to settle at 26,633.13. The Nifty 50 index, fell 1.75 points or 0.02%, to settle at 8,190.50.
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