Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could jump 40.50 points at the opening bell. Firmness in Asian stocks to support gains on the bourses. India's industrial production surging at 25-month high pace of 8.4% in November will also support gains.
Overseas, Asian stocks gained and built on the strong start to this year and headed for a fresh record high amid optimism in global growth. US markets will remain shut today, 15 January 2018, for the Martin Luther King Jr. holiday after the S&P 500 Index closed on Friday, 12 January 2018, at an all-time high.
Among corporate news back home, on a consolidated basis, IT major Infosys' net profit rose 37.65% to Rs 5129 crore on 1.29% growth in net sales to Rs 17794 crore in Q3 December 2017 over Q2 September 2017. The result was announced after market hours on Friday, 12 January 2018. The result is as per Indian Accounting Standards (Ind-AS).
On a consolidated basis, the company expects its revenues for the fiscal year ending 31 March 2018, under IFRS, to grow 5.5%-6.5% in constant currency. The revenues are expected to grow 2.1%-3.1% in rupee terms based on the exchange rates as of 31 December 2017. The revenues are expected to grow 6.5%-7.5% in dollar terms based on the exchange rates as of 31 December 2017.
Housing finance major HDFC said its board approved issuing equity shares up to an aggregate amount not exceeding Rs 13000 crore through a combination of a preferential allotment and qualified institutions placement, subject to shareholders' approval through postal ballot. The announcement was made on Saturday, 13 January 2018.
Housing Development & Infrastructure (HDIL) said its board approved allotment of 2 crore warrants at Rs 70.50 each to Sarang Wadhawan, promoter of the company. The announcement was made on Saturday, 13 January 2018.
On the macro front, India's industrial production surged at 25-month high pace of 8.4% in November 2017 over November 2016, while showing a sharp acceleration in growth from the 2% increase in October 2017.
The all-India general CPI inflation surged to 17-month high of 5.21% in December 2017 (new base 2012=100), compared with 4.88% in November 2017. The corresponding provisional inflation rate for rural area was 5.27% and urban area 5.09% in December 2017 as against 4.79% and 4.90% in November 2017. The core CPI inflation increased to 4.96% in December 2017 compared with 4.75% in November 2017. The cumulative CPI inflation was lower at 3.25% in April-December FY2018 compared with 4.85% in April-December FY2017.
The government will announce inflation data based on wholesale price index (WPI) for December today, 15 January 2018. The WPI-based inflation accelerated further higher to eight-month high 3.9% in November 2017 from 3.6% in October 2017.
The stock market closed the volatile trading session with small gains on Friday, 12 January 2018, on positive global cues. The Sensex advanced 88.90 points or 0.26% to settle at 34,592.39, its record closing high.
Foreign portfolio investors (FPIs) sold shares worth a net Rs 158.16 crore on Friday, 12 January 2018, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 696.25 crore on Friday, 12 January 2018, as per provisional data.
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