Market is seen opening higher. Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 20 points at the opening bell.
In overseas stock markets, Asian stocks witnessed a mixed trend. US stock market was closed yesterday, 30 May 2016, for the Memorial Day holiday.
Closer home, foreign portfolio investors (FPIs) bought shares worth a net Rs 355.54 crore yesterday, 30 May 2016, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 211.09 crore yesterday, 30 May 2016, as per provisional data.
Among corporate news, Tata Motors' consolidated net profit rose 201.6% to Rs 5177.06 crore on 18.97% growth in total income to Rs 80933.04 crore in Q4 March 2016 over Q4 March 2015. The result was announced after market hours yesterday, 30 May 2016.
Sun Pharmaceutical Industries' (Sun Pharma) consolidated net profit rose 92.71% to Rs 1713.69 crore on 16.82% growth in total income to Rs 7599.21 crore in Q4 March 2016 over Q4 March 2015. The result was announced after market hours yesterday, 30 May 2016.
Aurobindo Pharma's consolidated net profit rose 39.38% to Rs 562.85 crore on 18.88% growth in total income to Rs 3767.34 crore in Q4 March 2016 over Q4 March 2015. The result was announced after market hours yesterday, 30 May 2016.
HDFC announced that it intends to raise Rs 760 crore through private placement of senior secured redeemable non-convertible debentures. HDFC said that the debentures has issue price of Rs 1 crore each and carry coupon rate of 8.44% per annum with a tenor of 10 years. The issue opens and closes on the same day on 1 June 2016. The object of the issue is to augment the long-term resources of the company. The proceeds of the present issue would be utilized for financing/refinancing the housing finance requirements of the company. The redemption date of the issue is 1 June 2026. The announcement was made after trading hours yesterday, 30 May 2016.
Amid a divergent trend among various index constituents, the two key benchmark indices registered small gains yesterday, 30 May 2016. The Sensex rose 72 points or 0.27% to settle at 26,725.60, its highest closing level since 29 October 2015.
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