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25 Feb, 2018, 05:15:13 PM
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Shares may slide at opening bell
02-Feb-18   07:55 Hrs IST

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 111 points at the opening bell, tracking negative leads from Asian markets.

Overseas, Asian shares were trading lower after the Wall Street closed mixed. US shares ended mostly lower on Thursday as fears of a pick up in inflation and rising bond yields spoiled sentiment.

In US, the number of people who applied for unemployment benefits in late January fell by 1,000 to 230,000. Further, the productivity of American firms and workers fell at a 0.1% annual pace in the fourth quarter. Separately, the Institute for Supply Management said its manufacturing index in January slipped to 59.1% from 59.3% in December.

Closer home, foreign portfolio investors (FPIs) bought shares worth a net Rs 1099.78 crore yesterday, 1 February 2018, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 358.50 crore yesterday, 1 February 2018, as per provisional data.

Among corporate news, ICICI Bank said that the Committee of Executive Directors constituted by the board of the bank is scheduled to have a meeting in the week of February 5-9, 2018 to consider, domestic fund raising by way of issuance of senior unsecured long term bonds/ Basel III compliant unsecured subordinated perpetual Additional Tier 1 bonds in single/multiple tranches on private placement basis. The announcement was made after market hours yesterday, 1 February 2018.

Bajaj Auto and Hindalco Industries will announce Q3 results today, 2 February 2018.

Key benchmark indices drifted lower yesterday, 1 February 2018, after the finance minister Arun Jaitley announced long-term capital gains (LTCG) tax for investing in equities. The barometer index, the S&P BSE Sensex, fell 58.36 points or 0.16% to settle at 35,906.66. The Nifty 50 index fell 10.80 points or 0.10% to settle at 11,016.90.

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