Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could gain 27.35 points at the opening bell. Overseas, it is a shortened week for greater China markets, with mainland China markets remained shut from 15 to 21 February 2018 and Hong Kong markets shut from 16 to 19 February 2018 for the Lunar New Year. Most of the other Asian markets are also closed for a holiday. US stocks rose for the fifth day in a row yesterday 15 February 2018, led by technology stocks. They have now recovered about half their losses during the market's dramatic plunge earlier this month. In economic news, the Labor Department said US wholesale prices rose 0.4% in January, the biggest increase since November. On macroeconomic data front, merchandise exports increased 9.1% to $24.38 billion in January 2018 over a year ago. Meanwhile, merchandise imports surged 26.1% to $40.68 billion. The trade deficit jumped 64.6% to $16.30 billion in January 2018 from $9.9 billion in January 2017. Among corporate news, Infosys announced that UCAS, the admissions service for UK higher education, has extended its existing partnership with the company to support its business strategy up to 2021. UCAS delivers critical admissions and information services to students, schools and higher education providers. As part of the renewed engagement, Infosys will provide a wide range of digital services that will enable UCAS to continue to develop technology capabilities that connect learners to multiple destinations, such as universities, awarding bodies, schools and other organisations, using a dynamic digital suite of systems that responds to a rapidly changing higher education sector in the UK. The announcement was made after market hours yesterday, 15 February 2018. Mahindra & Mahindra (M&M) announced that it would be investing in Zoomcar India and in Zoomcar Inc, its US incorporated holding parent company, in keeping with the Mahindra's thrust on the shared mobility business. Under the aegis of the deal, Mahindra Group would invest up to Rs 176 crore in Zoomcar India or Zoomcar Inc. which, on an as converted to common stock of Zoomcar Inc on a fully diluted basis, would constitute approximately 16% stake in Zoomcar Inc. The announcement was made after market hours yesterday, 15 February 2018. Mahindra has been keen to invest in the shared mobility space as a part of its strategy to promote and participate in sustainable mobility solutions, including multi modal urban mobility. This is with the objective of enabling improved livelihoods and lifestyles of people, thereby enabling them to RISE. To that end, Mahindra has been promoting electric vehicles along with the promotion of shared mobility. This investment in India's leading self-drive shared mobility company will enable the company to further its objectives in this area. Key benchmark indices settled with modest gains after a volatile session of trade yesterday, 15 February 2018, as firmness in global stocks supported gains on the bourses. The Sensex rose 141.52 points or 0.41% to settle at 34,297.47. Foreign portfolio investors (FPIs) sold shares worth a net Rs 240.29 crore yesterday, 15 February 2018, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 49.92 crore yesterday, 15 February 2018, as per provisional data. Powered by Capital Market - Live News |