Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could slump 130 points at the opening bell.
In overseas markets, Asian shares were mixed as US bond yields soared on expectations US President-elect Donald Trump's policies would stoke inflation. In US, the Dow Jones Industrial Average rallied to a record close yesterday, 10 November 2016, as investors continued to revise their strategies and reposition portfolios in response to Donald Trump's unexpected presidential election victory.
Closer home, foreign portfolio investors (FPIs) sold shares worth a net Rs 733.49 crore yesterday, 10 November 2016, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 639.19 crore yesterday, 10 November 2016, as per provisional data.
Among corporate news, Sun Pharmaceutical Industries rose 0.88%. The company's consolidated net profit surged 117.25% to Rs 2235.14 crore on 19.98% rise in total income to Rs 8384.52 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 10 November 2016.
Dilip Shanghvi, Managing Director of Sun Pharmaceutical Industries said that the synergies from the Ranbaxy acquisition are gaining momentum and the company is on track to achieve the targeted benefits. These synergies will continue to help in funding emerging specialty businesses. Post the close of Q2 September 2016, the company has further strengthened its branded ophthalmic pipeline through the acquisition of Ocular Technologies.
Tata Motors said that its group global wholesales rose 9% to 1.01 lakh units in October 2016 over October 2015. The announcement was made after market hours yesterday, 10 November 2016. Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range rose 18% to 36,921 units in October 2016 over October 2015. Global wholesales of all passenger vehicles rose 4% to 64,145 units in October 2016 over October 2015.
NHPC said that the board of directors of the company in its meeting scheduled to be held on 18 November 2016, will consider the proposal for raising of Rs 2250 crore through issuance of V series corporate bonds on private placement basis. The proposed issue is out of Rs. 4500 crore already approved by the shareholders in their 40th Annual General Meeting held on 22 September 2016. The announcement was made after market hours yesterday, 10 November 2016.
Key benchmark indices logged strong gains on buoyant global cues, reversing yesterday's slide yesterday, 10 November 2016. The barometer index, the S&P BSE Sensex, rose 265.15 points or 0.97% to settle at 27,517.68. The Nifty 50 index rose 93.75 points or 1.11% to settle at 8,525.75.
On macro front, the government will announce data on index of industrial production (IIP) for September 2016 after market hours today, 11 November 2016. Industrial production declined 0.7% in August 2016 compared with a revised 2.5% decline in July 2016.
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