Key indices may open with flat to tiny gains amid mixed Asian cues. Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could gain 1.90 points at the opening bell.
Overseas, Asian stocks were mixed as caution prevailed as increased geopolitical risks prompted investors to favour safe-haven bets such as government debt. Top aides to US President Donald Trump differed on Sunday on where US policy on Syria was headed after last week's attack on a Syrian air base, while US Secretary of State Rex Tillerson warned the strikes were a warning to other nations, including North Korea.
Japan's current account surplus stood at 2.81 trillion yen ($25.26 billion) in February, finance ministry data showed, the biggest surplus since March 2016. The result is the 32nd straight month of current account surpluses. This February's current account surplus was the largest on record for February.
US stocks closed lower on Friday, 7 April 2017, after increased geopolitical concerns amid US air strikes against Syria and weaker than expected nonfarm payrolls data weighed on sentiment. The Bureau of Labor Statistics reported Friday, 7 April 2017, nonfarm payrolls grew by just 98,000 in March, well below expectations, but the unemployment rate fell to a 10-year low of 4.5%.
Crude oil prices edged higher supported by strong demand and political uncertainty in Syria, although another rise in US drilling activity kept a lid on gains. In global commodities markets, Brent crude oil futures for June settlement was up 6 cents at $55.30 a barrel. The contract had gained 35 cents to settle at $55.24 a barrel during previous trading session.
Meanwhile, domestic market had settled with modest losses on the last trading session of the week on Friday, 7 April 2017, triggered by worries of rising geopolitical tensions after US fired dozens of cruise missiles into Syria. The Sensex declined 220.73 points or 0.74% to settle at 29,706.61.
Foreign portfolio investors (FPIs) sold shares worth a net Rs 262.37 crore on Friday, 7 April 2017, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 414.94 crore on Friday, 7 April 2017, as per provisional data.
In the week ended Friday, 7 April 2017, the Sensex rose 86.11 points, or 0.29% to settle at 29,706.61 in line with overall positive sentiment in the market which has been riding on the passage of Goods and Services Tax (GST) Bill and the strengthened position of government after the assembly elections.
Among corporate news, Maruti Suzuki India said its total production rose 10.29% to 1.53 lakh units in March 2017 over March 2016. The announcement was made after market hours on Friday, 7 April 2017.
L&T's board at a meeting held on Friday, 7 April 2017, approved appointment of A. M. Naik as the Non-Executive Chairman of the company with effect from 1 October 2017 for a period of three years, immediately upon his retirement as the Executive Chairman on 30 September 2017. The board also approved appointment of S. N. Subrahmanyan as the Chief Executive Officer & Managing Director with effect from 1 July 2017. The announcement was made after market hours on Friday, 7 April 2017.
IndusInd Bank said it has recently inaugurated its first branch in Gaya, Bihar. With the inauguration of this branch, the bank now has 18 branches in Bihar. The announcement was made after market hours on Friday, 7 April 2017.
Indiabulls Housing Finance said it allotted its sixteenth tranche of secured, redeemable, non-convertible debentures (NCDs) of face value Rs 10 lakh each aggregating to Rs 43 crore. The announcement was made after market hours on Friday, 7 April 2017.
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