Market may open higher

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could gain 28 points at the opening bell.

Overseas, Asian markets were trading on a mixed note. In US, the Dow Jones industrial average closed higher for the first time in six sessions on Wednesday, recovering from sharp losses seen earlier in the day, as Boeing soared on strong earnings.

The Dow closed at 24,083.83, up 59.70 points. The S&P 500 also erased earlier losses, closing 0.2% higher at 2,639.40. The Nasdaq composite, meanwhile, slipped 0.1% to 7,003.74.

Back home,key benchmark indices logged modest losses yesterday, 25 April 2018 as investors booked profits amid weakness in global stock markets. The barometer index, the S&P BSE Sensex, fell 115.37 points or 0.33% to settle at 34,501.27. The Nifty 50 index fell 43.80 points or 0.41% to settle at 10,570.55. Recent firmness in crude oil prices too worried investors.

 

The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 304.79 crore yesterday, 25 April 2018, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 435.98 crore yesterday, 25 April 2018, as per provisional data.

Among corporate news,Axis Bank, Biocon and Yes Bank will announce Q4 results today, 26 April 2018.

Wipro's consolidated net profit fell 6.69% to Rs 1800.80 crore on 0.04% rise in total income to Rs 14304.60 crore in Q4 March 2018 over Q3 December 2017. The result was announced after market hours yesterday, 25 April 2018.

The board of directors of the company considered and approved a scheme of amalgamation (Scheme) providing for the merger of its wholly owned subsidiaries, Wipro Technologies Austria GmbH, Wipro Information Technology Austria GmbH, Newlogic Technologies SARL and Appirio India Cloud Solutions (Transferor Companies) with Wipro (Transferee Company).

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