Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 16.50 points at the opening bell on positive cues in the other Asian stocks.
Overseas, most Asian shares were trading higher as investors digested earnings releases from regional corporates and a resurgent dollar.
In US, the main benchmarks ended little changed overnight amid better-than-expected retail sales data and an abatement of tensions between the US and North Korea. The Dow Jones Industrial Average finished up 5.28 points, or less than 0.1%, at 21,998.99. The S&P 500 index declined 1.23 points to finish at 2,464.61. The Nasdaq Composite Index slipped 7.22 points, or 0.1%, to close at 6,333.01.
US retail sales recorded their biggest increase in seven months in July as consumers boosted purchases of motor vehicles as well as discretionary spending, suggesting the economy continued to gain momentum early in the third quarter. The Commerce Department said on Tuesday, 15 August 2017, that retail sales jumped 0.6% last month. That was the largest gain since December 2016 and followed June's upwardly revised 0.3% rise.
Closer home, as per data on the National Stock Exchange (NSE), foreign portfolio investors (FPIs) sold shares worth a net Rs 1638.83 crore on Monday, 14 August 2017, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 1619.17 crore on Monday, 14 August 2017, as per provisional data.
On the macro front, the all-India general Consumer Price Index (CPI)-based inflation rebounded 2.36% in July 2017, compared with 1.46% in June 2017. The data was released after market hours on Monday, 14 August 2017.
Among corporate news, Lupin said that the company and Natco announced the final ANDA approval of Lanthanum Carbonate Chewable Tablets 500 mg (base), 750 mg (base), and 1000 mg (base) from the United States Food and Drug Administration (FDA). The product, as the first generic, will be launched shortly. The announcement was made after market hours on Monday, 14 August 2017.
Domestic bourses logged modest gains on Monday, 14 August 2017, boosted by positive global cues. The barometer index, the S&P BSE Sensex, gained 235.44 points or 0.75% to settle at 31,449.03. The Nifty 50 index gained 83.35 points or 0.86% to settle at 9,794.15. Global stocks rallied as US inflation data dampened prospects of a rate hike this year. The Indian stock market was closed yesterday, 15 August 2017, on account of Independence Day.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
