Higher opening on the cards

Market is seen opening higher amid mostly positive cues from Asian peers and higher closing on the Wall Street overnight. Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 37.50 points at the opening bell.

Overseas, Asian stock indices edged higher tracking mostly positive closing on the Wall Street overnight. US equities closed higher yesterday, 10 January 2017, as the Nasdaq composite notched a fresh record high.

Closer home, foreign portfolio investors (FPIs) sold shares worth a net Rs 21.20 crore yesterday, 10 January 2017, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 253.36 crore yesterday, 10 January 2017, as per provisional data.

 

Among corporate news, IndusInd Bank's net profit rose 29.19% to Rs 750.64 crore on 22.86% growth in total income to Rs 4716.13 crore in Q3 December 2016 over Q3 December 2015. The result was announced at the fag end of market hours yesterday, 10 January 2017.

Tata Motors will be watched. The Tata Motors Group global wholesales rose 4% to 95,081 units in December 2016 over December 2015. Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range fell 5% to 30,879 units in December 2016 over December 2015. Global wholesales of all passenger vehicles rose 8% to 64,202 units in December 2016 over December 2015.

Global wholesales for Jaguar Land Rover (JLR) were 53,063 vehicles (contains CJLR volume of 8,184 units for the month of December 2016). Jaguar wholesales for the month were 15,879 vehicles, while Land Rover wholesales for the month were 37,184 vehicles. The announcement was made after market hours yesterday, 10 January 2017.

Key benchmark indices registered modest gains yesterday, 10 January 2017. The Sensex had risen 173.01 points or 0.65% to settle at 26,899.56, its highest closing level since 10 November 2016.

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