Pre-Session; A flat opening on the cards

07-Sep-18: Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 7 points at the opening bell.

Overseas, most Asian stocks were trading lower amid ongoing concerns about global trade and emerging markets. US stocks fell yesterday, 6 September 2018 amid renewed selling in technology shares as the Trump administration eyed escalating the trade war and concerns mounted over flagging demand for computer chips.

Back home, the market ended the volatile session higher yesterday, 6 September 2018. The barometer index, the S&P BSE Sensex, gained 224.50 points or 0.59% at 38,242.81. The Nifty 50 index gained 59.95 points or 0.52% at 11,536.90. Shares regained some lost ground on Thursday after declining sharply in the past few sessions.

The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 455 crore yesterday, 6 September 2018, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 611.98 crore yesterday, 6 September 2018, as per provisional data.

Among corporate news, Bajaj Auto said it will shortly enhance its production capacities of 3 wheeler and quadricycles to 1 million per year as the government announces end to permits. The announcement was made after market hours yesterday, 6 September 2018.

This announcement came after Minister for Transport Nitin Gadkari announcing at the SIAM convention to move to a “no-permit” regime for auto rickshaws powered by alternate fuels. Bajaj Auto said that it is the market leader with 86% market share in the alternate fuel three-wheelers.

Housing Development Finance Corporation (HDFC) said it concluded the sale of 24,85,956 equity shares of Rs 10 each, representing 5.1% of the equity capital of CAMS to Great Terrain Investment, Mauritius at Rs 681.91 per equity share, aggregating to a consideration of Rs 169.52 crore. Post sale, HDFC will continue to hold 5.99% of the equity capital or CAMS. The announcement was made after market hours yesterday, 6 September 2018.

~~Powered by Capital Market - Live News.....