Market may open lower
06-Apr-18   08:23 Hrs IST

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 18 points at the opening bell.

Overseas, most Asian stocks fell while US stock futures dropped sharply after US President Donald Trump ordered his administration to consider tariffs on an additional $100 billion worth of Chinese imports.

US stocks rose for a third day yesterday, 5 April 2018 as White House officials signaled that the president's tough talk on trade won't lead to growth-sapping tariffs.

Back home, key benchmark indices logged strong gains yesterday, 5 April 2018 in tandem with world stocks, as concerns over trade tensions between between US and China ebbed. The Sensex rose 577.73 points or 1.75% to settle at 33,596.80, its highest closing level since 15 March 2018.

The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 108.02 crore yesterday, 5 April 2018 as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 615.28 crore yesterday, 5 April 2018, as per provisional data.

Among corporate news, HCL Technologies (HCL) announced the acquisition of C3i Solutions, a leader in multi-channel customer engagement services for the life sciences and consumer packaged goods (CPG) industries, from Merck & Co., Inc., Kenilworth, New Jersey, USA (known as MSD outside of the United States and Canada). With this acquisition, HCL will complement its broad-based IT and business services capability with the additional depth that C3i has in the life sciences and CPG verticals. The announcement was made after market hours yesterday, 5 April 2018.

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