Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 2 points at the opening bell.
On the macro front, India's industrial production (base year 2011-12=100) moderated to five-month low of 4.4% in March 2018 over March 2017, after healthy growth in the range of 7% to 8.5% for last four straight months. The deceleration in industrial production growth has moderated mainly driven by moderation in the manufacturing sector's production growth to 4.4% in March 2018. However, the growth of electricity generation output accelerated to 5.9%, while the mining output rebounded 2.8% in March 2018 after 0.4% decline in February 2018. The data was announced by government after market hours on Friday, 11 May 2018.
The government will announce consumer price inflation (CPI) and wholesale price inflation (WPI) for April 2018 today, 14 May 2018. CPI and WPI stood at 4.28% and 2.47%, respectively, in March 2018.
On the political front, exit polls reportedly showed that Karnataka could return a split verdict with the Bharatiya Janata Party as the single largest party. The Karnataka Assembly elections in a single-phase polling were held on Saturday, 12 May 2018. Polling was held in 222 constituencies of the 224-member assembly. Results will be announced tomorrow, 15 May 2018. Karnataka is one of only three states to be ruled by the Congress.
Overseas, Asian stocks were trading higher on signs the United States and China were toning down their trade war rhetoric. US stocks edged higher on Friday, 11 May 2018 amid growing conviction that inflation will remain tame and as trade tensions eased.
Back home, market ended with strong gains on Friday, 11 May 2018, tracking positive leads from Asian markets and overnight gains on the Wall Street. The barometer index, the S&P BSE Sensex, rose 289.52 points or 0.82% to settle at 35,535.79. The Nifty 50 index rose 89.95 points or 0.84% to settle at 10,806.50. The Sensex and the Nifty, both, settled at their highest closing level in more than 14 weeks.
The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 325.44 crore on Friday, 11 May 2018, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 1163.35 crore on Friday, 11 May 2018, as per provisional data.
Among corporate news, Hindustan Unilever will declare its audited financial results for the financial year ended 31 March 2018 today, 14 May 2018.
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