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Market may open lower
16-Mar-18   08:28 Hrs IST

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 39 points at the opening bell.

Overseas, Asian stocks fell as weak volumes in the US session overnight gave little impetus for traders ahead of next week's Federal Reserve meeting. US stocks ended mixed yesterday, 15 March 2018 as industrial and tech gains were offset by losses in the consumer and energy sector.

Back home, key benchmark indices registered modest losses in a volatile session of trade yesterday, 15 March 2018. The barometer index, the S&P BSE Sensex fell 150.20 points or 0.44% to settle at 33,685.54. The Nifty 50 index declined 50.75 points or 0.49% to settle at 10,360.15.

The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 705.40 crore yesterday, 15 March 2018, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 256.45 crore yesterday, 15 March 2018, as per provisional data.

Among corporate news, Wipro said it invested $2.02 million in Avaamo Inc, an artificial intelligence-based conversational computing platform. The company said the investment would give Wipro a minority stake of less than 20% on a fully diluted basis. The announcement was made after market hours yesterday, 15 March 2018.

In a regulatory filing, the company stated that it made strategic investment of $2.02 million in the current tranche. This along with further infusion of funds and conversion of convertible note issued earlier will take the total investment to $3.02 million, Wipro said.

According to the company, the cash deal was completed on 14 March 2018. Headquartered at Los Altos in the US, the company is founded in 2014. Avaamo Inc provides an artificial intelligence (AI) driven enterprise bot platform that simplifies the time needed to design and deploy enterprise bots to corporate employees and their customers.

Yes Bank and Fortis Healthcare will be watched. Yes Bank has sold 1.12 crore equity shares of Rs 10 each, constituting 2.17% of the paid up share capital, of Fortis Healthcare, in various tranches last being on 15 March 2018, resulting into changes in holding of the bank by more than 2% of the total shareholding of Fortis Healthcare, from the last disclosure made by the bank on 13 March 2018. Yes Bank made the announcement after market hours yesterday, 15 March 2018.

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