Market is seen opening higher. Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 16.5 points at the opening bell.
Overseas, Asian stocks were mostly lower as investor sentiment soured amid lacklustre closing on the Wall Street and sharp slide in oil prices overnight.
In the US, major stock indices closed mixed yesterday, 9 January 2017, with and utilities lagging, as investors geared up for the start of earnings season and digested falling oil prices. The Nasdaq composite hit a new all-time closing high.
Closer home, foreign portfolio investors (FPIs) sold shares worth a net Rs 325.10 crore yesterday, 9 January 2017, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 96.82 crore yesterday, 9 January 2017, as per provisional data.
Among corporate news, IndusInd Bank is scheduled to announce Q3 December 2016 earnings today, 10 January 2017.
Adani Ports and Special Economic Zone (APSEZ) said that pursuant to the powers delegated to the Finance Committee by the board of directors of the company, the Finance Committee has reviewed and approved the preliminary offering circular in relation to the proposed issuance of foreign currency denominated bonds (notes) in US dollars by the company. The issuance of notes offering may follow, subject to market conditions.
The pricing, tenure and other terms of the bonds to be issued will be determined later. APSEZ is rated Baa3 (Negative) by Moody's, BBB- (Stable) by S&P and BBB-(Negative) by Fitch and expects the same ratings for its notes. The announcement was made before market hours today, 10 January 2017.
Key equity benchmark indices registered small losses in a lacklustre trading session yesterday, 9 January 2017. The Sensex fell 32.68 points or 0.12% to settle at 26,726.55, its lowest closing level since 4 January 2017.
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