Market may edge lower in early trade. Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 11.50 points at the opening bell.
Overseas, Asian stocks traded mixed as investors awaited clues from the outcome of Federal Reserve monetary policy meeting later in the global day. US stocks closed at record high yesterday, 19 September 2017 as the Federal Reserve kicked off a two-day monetary policy meeting yesterday.
Market participants are largely expecting interest rates to remain unchanged. However, Fed is expected to announce the unwinding of its $4.5 trillion balance sheet.
Closer home, foreign portfolio investors (FPIs) sold shares worth a net Rs 1719.62 crore yesterday, 19 September 2017, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 77.68 crore yesterday, 19 September 2017, as per provisional data.
Among corporate news, Infosys announced that Infosys Finacle, a part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys announced its partnership with Niki.ai, a FinTech start-up that offers chat based commerce solutions. With this partnership, Finacle solution suite will be available with Niki.ai's chat-based virtual assistant – Niki. This offering will enable banks to offer its customers a virtual banking assistant for shopping products and services. The announcement was made after market hours yesterday, 19 September 2017.
Hindustan Copper announced that it signed an memorandum of understanding (MoU) with National Aluminium Company and Mineral Exploration Corporation on 18 September 2017 to explore the possibility of forming a joint venture company for exploration of primarily strategic minerals overseas and sale of these minerals in India and other countries for commercial use. The announcement was made after market hours yesterday, 19 September 2017.
Key benchmark indices closed the lackluster trading session near the flat line yesterday, 19 September 2017. The Sensex had fallen 21.39 points or 0.07% to settle at 32,402.37, its lowest closing level since 15 September 2017.
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