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Market likely to open higher
28-Nov-17   08:34 Hrs 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 were trading lower amid uncertainty over the US tax bill. US equities ended yesterday, 27 November 2017 little changed as declining oil prices pulled down energy stocks.

US President Donald Trump is scheduled to address Senate Republicans today, 28 November 2017 ahead of a potential vote on a tax overhaul. Federal Reserve Chair Janet Yellen testifies before the congressional Joint Economic Committee in Washington, and the confirmation hearing is due for her nominated successor, Jerome Powell.

Back home, key benchmark indices logged small gains yesterday, 27 November 2017 after languishing in negative zone for most part of the trading session. The Sensex rose 45.20 points or 0.13% to settle at 33,724.44, its highest closing level since 6 November 2017.

The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 424.77 crore yesterday, 27 November 2017, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 69.40 crore yesterday, 27 November 2017, as per provisional data.

Among corporate news, Infosys announced a partnership with Hewlett Packard Enterprise (HPE) to offer a joint end-to-end mainframe modernization solution, which will provide global enterprise customers robust hardware and advanced software architecture. The announcement was made after market hours yesterday, 27 November 2017.

Separately, Infosys announced a multi-year partnership with the State of Rhode Island to establish an Infosys Design and Innovation hub. Infosys will also hire 500 American workers in Rhode Island over the next five years. The announcement was made after market hours yesterday, 27 November 2017.

Tata Power Company announced that its wholly-owned subsidiary, Tata Power Solar Systems commissioned a rooftop project in India - a solar carport on the rooftop of the sprawling 70,000 square meter Unity One mall, a Unity Group endeavor in Rohini. The unique rooftop carport is estimated to set off 438 Tons of carbon emission annually. Tata Power Solar won the bid in the open tender process fielded by Delhi Metro Rail Corporation (DMRC) for multi-level car parking. The announcement was made after market hours yesterday, 27 November 2017.

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