Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 13 points at the opening bell.
Overseas, most Asian stocks were trading lower. US equity benchmarks finished Tuesday mostly higher, led by technology and health-care companies.
Back home, the market gained for the third straight session yesterday, 24 July 2018 as cement and auto stocks surged on hopes of improved results. The barometer index, the S&P BSE Sensex, rose 106.50 points or 0.29% at 36,825.10. The Nifty 50 index rose 49.55 points or 0.45% at 11,134.30. Positive global stocks also lifted sentiment.
The trading activity on that day showed that the foreign portfolio investors (FPIs) bought shares worth a net Rs 104.34 crore yesterday, 24 July 2018, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 513.78 crore yesterday, 24 July 2018, as per provisional data.
Among corporate news, Bharti Infratel, Hero MotoCorp, L&T and Ambuja Cements will unveil April-June 2018 earnings today, 25 July 2018.
On a consolidated basis, Asian Paints' net profit rose 29.63% to Rs 571.31 crore on 15.07% increase in net sales to Rs 4390.27 crore in Q1 June 2018 over Q1 June 2017. The result was announced after market hours yesterday, 24 July 2018.
HDFC announced after market hours yesterday, 24 July 2018, that in the proposed meeting on 30 July 2018, the company's board will consider raising up to $1.5 billion via external commercial borrowing (ECB). The company had earlier announced that its board will meet on 30 July 2018, to consider Q1 June 2018 results, and approve issuance of secured redeemable non-convertible debentures aggregating to Rs 35000 crore on a private placement basis, subject to approval of shareholders of the corporation.
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