Pre Session Commentary

Indices may open higher
(06-Sep-2018, 08:34 Hours IST)  

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 23 points at the opening bell.

Overseas, most Asian stocks are trading lower amid ongoing concerns about emerging-markets. Most US stocks fell yesterday, 5 September 2018 as executives of the tech heavyweights faced scrutiny on Capitol Hill.

Back home, the key benchmark indices logged modest losses in a highly volatile session of trade yesterday, 5 September 2018 amid negative global cues. The barometer index, the S&P BSE Sensex, fell 139.61 points or 0.37% at 38,018.31. The Nifty 50 index lost 43.35 points or 0.38% at 11,476.95.

The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 383.67 crore yesterday, 5 September 2018, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 176.95 crore yesterday, 5 September 2018, as per provisional data.

Among corporate news, Aurobindo Pharma announced the signing of a definitive agreement to acquire certain assets from Sandoz Inc., USA (Sandoz), a Novartis division, comprising a market leading dermatology business and a portfolio of oral solid products along with commercial and manufacturing infrastructure in the US. The announcement was made before trading hours today, 6 September 2018.

Bharti Infratel announced that subsequent to completion of Vodafone-Idea merger and their scheme becoming effective from 31 August 2018, Bharti Infratel (the company) and Indus Towers where the company holds 42% equity, have received exit notices, which would result in exit of 27,447 co-locations for the company on a consolidated basis. The announcement was made after trading hours yesterday, 5 September 2018.

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