Market may see a flat opening
07-Mar-18   08:18 Hrs IST

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 2.50 points at the opening bell.

Overseas, Asian stocks traded mixed. US stocks closed higher yesterday, 6 March 2018 but Wall Street remained on edge over an ongoing debate over tariffs proposed by President Donald Trump.

In Europe, reports suggested that the European Union plans to respond to US President Donald Trump's steel and aluminum tariffs by slapping counter measures on quintessentially American products.

Back home, among corporate news, TCS announced that it has extended its strategic partnership with Virgin Atlantic, a leading UK-based global airline, for a further five years. TCS and Virgin Atlantic began working together in 2004 as part of Virgin Atlantic's ongoing strategy to invest in operational efficiencies and innovations to help the company grow its market leadership. The announcement was made after market hours yesterday, 6 March 2018.

UltraTech Cement will be in focus. The Reserve Bank of India (RBI) yesterday, 6 March 2018 notified that the foreign portfolio investors (FPIs) investment limit in the company has increased from 30% to 40% of its paid-up capital.

The stock market registered sharp losses yesterday, 6 March 2018 on worries over the health of the Indian banking sector in the aftermath of a massive financial fraud at Punjab National Bank (PNB). The Sensex had fallen 429.58 points or 1.27% to settle at 33,317.20, its lowest closing level since 14 December 2017.

The trading activity showed that the foreign portfolio investors (FPIs) bought shares worth a net Rs 620.08 crore on 6 March 2018 as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 734.33 crore on 6 March 2018, as per provisional data.

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