Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 10 points at the opening bell.
Overseas, Asian stocks were trading mixed. US equities closed mixed yesterday, 22 February 2017 after minutes from the Federal Reserve's previous meeting hinted that a rate hike coming fairly soon. Wall Street was eagerly awaiting the release of these minutes, as they looked for more clues about when and how many times the Fed would raise rates this year.
Back home, a surge in index heavyweight Reliance Industries (RIL) and positive global stocks helped key benchmark indices register modest gains yesterday, 22 February 2017. The Sensex rose 103.12 points or 0.36% to settle at 28,864.71, its highest closing level since 8 September 2016.
The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 259.21 crore yesterday, 21 February 2017, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 917.97 crore yesterday, 21 February 2017, as per provisional data.
Among corporate news, Bharti Airtel announced that it has through its subsidiary Bharti Airtel Services, acquired a strategic stake in Seynse Technologies, a financial technology company for undisclosed sum. The announcement was made during market hours yesterday, 22 February 2017. The investment was completed by the company. Turnover of Seynse as on 31 March 2016 was Rs 6.53 lakh and had 41 employees. Seynse has created the popular digital leading platform Loan Singh, which enables easy loans for credit worthy yet under served borrowers. Seynse has built a proprietary credit engine and advanced machine learning capacity to serve customers.
NTPC said that the 115 megawatts (MW) out of 260 MW of Bhadla Solar Power Project of NTPC has been commissioned. With this, the installed capacity of NTPC's solar power projects has touched 475 MW. The total installed capacity of NTPC on standalone basis has become 41177 MW and that of NTPC group has become 48143 MW. The announcement was made after market hours yesterday, 22 February 2017.