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Home >> Market >> News >> News Details

Market Commentary - Pre-Session
20-Oct-2016     08:04

Market may see higher opening

Indian equity markets may see higher opening on positive global cues. Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could gain 35 points at the opening bell.

In overseas stock markets, Asian stocks were trading modestly higher amid traders exercising caution ahead of the final US Presidential debate. US stocks registered small gains yesterday, 19 October 2016, helped by better-than-expected earnings and rising oil prices. The Federal Reserve released the latest iteration of its Beige Book, which summarizes economic conditions in the US. In it, the Fed said economic activity increased at a modest pace in most regions.

Closer home, foreign portfolio investors (FPIs) sold shares worth a net Rs 282.77 crore yesterday, 19 October 2016, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) purchased shares worth a net Rs 724.64 crore yesterday, 19 October 2016, as per provisional data.

Among corporate news, Reliance Industries and Yes Bank will declare Q2 September 2016 results today, 20 October 2016.

Bharti Airtel after market hours yesterday, 19 October 2016, announced an offer for all customers purchasing a new 4G mobile handset. Airtel is offering 10 GB 4G/3G data on a recharge of Rs 249 along with any new 4G handset. 1 GB data will be instantly credited to the customer's account and the additional 9 GB data can be claimed by the customer through MyAirtel App. The data will be valid for 28 days. Users can avail a maximum of 3 recharges within 90 days, on the offer.

The special offer, which was introduced in Gujarat and Madhya Pradesh & Chhattisgarh last week, has now been extended across India and is available across all brands of 4G handsets. Airtel 4G is currently available in 18 circles across India. In non 4G circles, 3G data will be available to customers with their 4G devices. Pack Prices may vary from circle to circle. Offer on 4G handsets only and can be availed within 30 days of purchaseof the handset.

Private sector bank stocks and index heavyweight ITC led small losses for key benchmark indices in a lacklustre trading session yesterday, 19 October 2016. The Sensex fell 66.51 points or 0.24% to settle at 27,984.37, its lowest closing level since 17 October 2016.

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