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Market may advance on strong global cues
13-Apr-18   08:00 Hrs IST

Market may open higher mirroring positive cues from Asian markets and overnight rally on the Wall Street. Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 24 points at the opening bell.

The all-India general consumer price index (CPI) inflation eased marginally to five-month low of 4.28% in March 2018, compared with 4.44% in February 2018.

India's industrial production continued to record a healthy growth for the fourth straight month at 7.1% in February 2018 over February 2017. The manufacturing sector's production surged 8.7% in February 2018, contributing to the overall growth in industrial production. However, the growth of electricity generation output moderated to 4.5%, while the mining output declined 0.3% in February 2018.

Overseas, Asian shares were trading higher after US market gained in the last session as geopolitical worries ebbed. US stocks closed sharply higher on Thursday, as geopolitical concerns appeared to fade after President Donald Trump tweeted that a military strike on Syria may not be imminent. Escalating tensions over the Middle Eastern country were seen as a major contributor to weakness in Wednesday's session.

Closer home, foreign portfolio investors (FPIs) bought shares worth a net Rs 368.90 crore yesterday, 12 April 2018, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 615.81 crore yesterday, 12 April 2018, as per provisional data.

Among corporate news, IT major Infosys announces its Q4 results today, 13 April 2018.

Domestic stocks logged modest gains yesterday, 12 April 2018. The barometer index, the S&P BSE Sensex, rose 160.69 points or 0.47% to settle at 34,101.13. The Nifty 50 index rose 41.50 points or 0.40% to settle at 10,458.65. The Sensex reclaimed the crucial 34,000 level in intraday trade. Extending gains for the sixth straight trading session, the Sensex and the Nifty, both, settled at their highest closing level in over six weeks.

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