Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 27 points at the opening bell. IndusInd Bank is scheduled to announce Q1 June 2017 earnings today, 11 July 2017.
Overseas, Asian stocks were trading higher as investors hold on to their big bets ahead of the earnings season in the US. The Nasdaq and the S&P 500 finished higher yesterday, 10 July 2017 as a pair embattled sectors, technology and energy, drew bidders, while the Dow industrials closed fractionally lower .
Back home,the BSE Sensex logged strong gains on first trading day of the week on steady buying in TCS, Infosys and Bharti Airtel. The Sensex, rose 355.01 points or 1.13% to settle at 31,715.64.
The trading activity on that day showed that the foreign portfolio investors (FPIs) bought shares worth a net Rs 102.27 crore yesterday, 10 July 2017, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 894.57 crore yesterday, 10 July 2017, as per provisional data.
Among corporate news,State Bank of India's (SBI's) executive committee of the central board has given the final approval for divestment of 8 crore shares in SBI Life through an initial public offering (IPO). The shares being offered for sale by SBI will be available at a price that would be fixed and determined by SBI Life, SBI, and BNP Paribas Cardiff, in consultation with the book-running lead managers, SBI said.The announcement was made after market hours yesterday, 10 July 2017.
Bharti Airtel announced the launch of Project Next - its digital innovation program aimed at transforming customer experience across all of its services and touch points. Airtel said it plans to invest up to Rs 2000 crore over the next 3 years under Project Next to launch several exciting digital innovations to step change the simplicity and interactivity of the Airtel customer experience. Project Next complements Airtel's massive investments towards building a future ready network under Project Leap. The announcement was made at the fag end of market hours yesterday, 10 July 2017.
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