Market may open marginally lower
21-Dec-17   08:35 Hrs IST

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 12.80 points at the opening bell tracking subdued global cues.

Overseas, Asian stocks were mixed. The Bank of Japan kept monetary policy steady despite growing signs of strength in the economy. In a widely expected move, the BOJ maintained the 0.1% interest it charges on a portion of excess reserves that financial institutions park at the central bank.

US stocks closed marginally lower yesterday, 20 December 2017, as congressional Republicans sent tax-cut legislation to President Donald Trump for his signature. The House of Representatives yesterday, 20 December 2017 passed a historic tax bill, which they voted on for the second time due to a technical irregularity the day before. The bill includes a reduction in the corporate tax rate from 35% to 21%. The Senate passed the overhaul early on Wednesday.

Existing-home sales rose to a 5.81 million seasonally adjusted annual rate in November, the National Association of Realtors said. The number came in well above expectations.

Back home, key benchmark indices settled with small losses after a range bound and lackluster session of trade yesterday, 20 December 2017, as profit booking emerged after market hit record high. The Sensex fell 59.36 points or 0.18% to settle at 33,777.38, its lowest closing level since 18 December 2017.

Foreign portfolio investors (FPIs) sold shares worth a net Rs 1505.04 crore yesterday, 20 December 2017, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 146.17 crore yesterday, 20 December 2017, as per provisional data.

Among corporate news, HDFC said that it has approved the sale of 6.3% of the equity of Computer Age Management Services to Great Terrain Investment, Mauritius, an affiliate of Warburg Pincus group at a total consideration of Rs 209.05 crore. Post sale, company will continue to hold 4.8% of the equity capital of CAMS. The announcement was made after market hours yesterday, 20 December 2017.

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