The market is likely to open lower on negative Asian stocks. Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could fall 18 points at the opening bell.
In overseas markets, Asian markets declined ahead of a policy statement from the US Federal Reserve later in the global day today, 28 October 2015. US stocks slipped for a second consecutive day yesterday, 27 October 2015 due to combination of slumping oil prices, soft economic data and mixed earnings. The Fed's two-day policy meeting began yesterday, 27 October 2015. Investors are bracing for whether the central bank will hint at a December hike in interest rates. The Fed has held its benchmark short-term interest rate near zero since December 2008.
Closer home, foreign portfolio investors (FPIs) bought shares worth a net Rs 9.50 crore yesterday, 27 October 2015, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 165.45 crore yesterday, 27 October 2015, as per provisional data.
Ambuja Cements is scheduled to announce its Q3 September 2015 earnings today, 28 October 2015.
Wipro before market hours today, 28 October 2015, announced that it has won a five-year IT contract from Coop Norge Handel AS (Coop Norge), a leading retailer in Norway, with a market share of 33% and over 1,500 stores. As part of the agreement, Wipro will transform Coop Norge's enterprise SAP software landscape and upgrade the company's data center infrastructure, geared towards achieving superior performance.
Modest losses pushed the barometer index, the S&P BSE Sensex, to 1-1/2-week closing low and the 50-unit CNX Nifty index to its lowest closing level in almost two weeks yesterday, 27 October 2015. The Sensex fell 108.52 points or 0.40% to settle at 27,253.44, its lowest closing level since 16 October 2015.
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