Shares may open lower
23-Apr-18   07:54 Hrs IST

Market is seen opening lower tracking negative leads from Asian markets. Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 62.50 points at the opening bell.

Overseas, Asian stocks were trading lower as investors kept an eye on rising US Treasury yields.

US stocks ended lower on Friday, as weakness in technology and consumer staples shares offset the latest batch of corporate earnings, which largely continued to beat expectations. While earnings were the primary driver of sentiment last week, investors lately grew concerned about a jump in bond yields that reflect rising inflation expectations.

Closer home, foreign portfolio investors (FPIs) sold shares worth a net Rs 21.02 crore on Friday, 20 April 2018, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 111.01 crore on Friday, 20 April 2018, as per provisional data.

Among corporate news, HDFC Bank reported 20.3% rise in net profit to Rs 4799.28 crore on 18.5% increase in total income to Rs 25549.66 crore in Q4 March 2018 over Q4 March 2017. The result was announced on Saturday, 21 April 2018.

Key benchmark indices settled with small declines on Friday, 20 April 2018, as losses in bank stocks were mostly offset by gains in IT stocks. The barometer index, the S&P BSE Sensex, fell 11.71 points or 0.03% to settle at 34,415.58. The Nifty 50 index fell 1.25 points or 0.01% to settle at 10,564.05.

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