Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 25.50 points at the opening bell.
Overseas, Asian shares were mostly higher after police said they were treating an explosion in Manchester, England, that killed at least 19 people as a terror attack.
The explosion struck an Ariana Grande concert in northern England late yesterday, 22 May 2017, killing at least 19 people and injuring dozens. Britain's terrorist threat level has been set at "severe" in recent years, indicating an attack is highly likely. Police said the explosion is being judged a terrorist attack unless new information proves otherwise.
In US, shares rose for the third straight day with technology companies closing in on all-time highs. Aerospace and defense companies rose after President Donald Trump presided over a $110 billion sale of military equipment to Saudi Arabia that could expand to $350 billion over 10 years. The Standard & Poor's 500 index jumped 0.5% to 2,394.02. The Dow Jones industrial average rose 0.4% to 20,894.83 and the Nasdaq composite gained 0.8% to 6,133.62.
Closer home, foreign portfolio investors (FPIs) sold shares worth a net Rs 321.27 crore yesterday, 22 May 2017, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 1262.64 crore yesterday, 22 May 2017, as per provisional data.
Among corporate news, GAIL (India)'s net profit dropped 68.74% to Rs 260.16 crore on 15.86% rise in total income to Rs 13674.09 crore in Q4 March 2017 over Q4 March 2016. The result was announced after market hours yesterday, 22 May 2017.
The fall in bottomline was due to accounting of impairment of investments in Ratnagiri Gas and Power (RGPPL) of Rs 783 crore in Q4 March 2017. The net profit without the impact of impairment rose 25% to Rs 1043 crore in Q4 March 2017 over in Q4 March 2016.
Key benchmark indices logged modest gains yesterday, 22 May 2017. The barometer index, the S&P BSE Sensex, rose 106.05 points or 0.35% to settle at 30,570.97. The Nifty 50 index rose 10.35 points or 0.11% to settle at 9,438.25.
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