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Home >> Market >> News >> News Details

Market Commentary - Pre-Session
11-Apr-2018     07:53

Market may see flat opening

Market could see a flat opening after reporting gains in the past four trading sessions. Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 1 point at the opening bell.

Overseas, most Asian shares rose as investors sentiment improved after China's President Xi Jinping helped ease fears over a US-China trade row.

China's factory inflation slowed for a fifth month while the consumer price index retreated from a four-year high. The producer price index rose 3.1% in March from a year earlier, compared with 3.7% in February. The consumer price index climbed 2.1%, the statistics bureau said Wednesday, versus 2.9% in February.

US stocks surged on Tuesday, 10 April 2018, thanks to a less-aggressive stance on trade taken by Chinese President Xi Jinping. Xi's conciliatory comments on tariffs sent prices of risky assets such as global equities and commodities higher.

Chinese President Xi said that Beijing plans to give foreign companies greater access to financial and manufacturing sectors. He also talked about a cut in tariffs on car imports and an improvement in protection of intellectual property, among other measures.

Closer home, foreign portfolio investors (FPIs) sold shares worth a net Rs 684.99 crore yesterday, 10 April 2018, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 653.65 crore yesterday, 10 April 2018, as per provisional data.

Among corporate news, Infosys will be watched. Calix announced a strategic multi-year partnership with Infosys, that will accelerate communications service provider (CSP) adoption of AXOS, its Software Defined Access (SDA) Platform. Calix and Infosys will jointly invest to co-create new services and value-added offerings on the award winning AXOS platform. By reducing time-to-market for new AXOS capabilities and greatly broadening AXOS offerings, the partnership will enable service providers to accelerate deployments of next generation access networks that will dramatically reduce their operating cost and enable them to deploy new services at a rapid pace. The announcement was made after market hours yesterday, 10 April 2018.

Key benchmark indices logged modest gains on Tuesday, 10 April 2018, on firm global cues. The barometer index, the S&P BSE Sensex, rose 91.71 points or 0.27% to settle 33,880.25. The Nifty 50 index rose 22.90 points or 0.22% to settle at 10,402.25. Shares across the globe edged higher after a speech by Chinese President Xi Jinping calmed investor jitters over an escalating US-China trade row. Domestic stocks logged gains for the fourth day in a row yesterday, 10 April 2018.

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