Pre-Session: Indices may advance on firm Asian cues

22-Nov-17: Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could gain 30.85 points at the opening bell on firm Asian stocks.

Overseas, Asian stocks gained on record close for US stocks overnight. US stock-market indexes ended at records and near session highs yesterday, 21 November 2017, finding support on another round of strong earnings, with technology shares leading the way. The Chicago Fed national activity index rose to 0.65 in October from 0.36 in September. Sales of previously-owned homes jumped to a seasonally adjusted annual pace of 5.48 million in October.

Among corporate news back home, Bank of Baroda announced that the finance committee of the board approved the proposal of raising additional equity capital aggregating upto Rs 6000 crore by way of rights issue or qualified institutions placements (QIP), subject to applicable statutory/regulatory approvals. The announcement was made after market hours yesterday, 21 November 2017.

Key benchmark indices settled with modest gains yesterday, 21 November 2017, as firmness in global stocks underpinned sentiment. The Sensex advanced 118.45 points or 0.36% to settle at 33,478.35, its highest closing level since 6 November 2017. Stocks had gained for the fourth straight day.

Foreign portfolio investors (FPIs) sold shares worth a net Rs 727.01 crore yesterday, 21 November 2017, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 825.50 crore yesterday, 21 November 2017, as per provisional data.

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