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Stocks may open lower
03-May-18   08:31 Hrs IST

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 33 points at the opening bell.

Overseas, Asian stocks fell after the Federal Reserve reiterated plans to continue raising rates gradually amid firming inflation. Japan markets are closed for a four-day holiday weekend.

US stocks fell yesterday, 2 May 2018 as investors assessed the US Federal Reserve's signal that it's in no rush to raise rates even as inflation rises to its target. The central bank held key rates unchanged, as expected.

Back home, a divergent trend was witnessed yesterday, 2 May 2018 as the barometer index, the S&P BSE Sensex, settled a tad higher while the Nifty 50 index logged small losses. The barometer index, the S&P BSE Sensex, rose 16.06 points or 0.05% at 35,176.42. The Nifty 50 index fell 21.30 points or 0.20% at 10,718.05.

The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 525.93 crore yesterday, 2 May 2018, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 165.84 crore yesterday, 2 May 2018, as per provisional data.

Among corporate news, Adani Ports & Special Economic Zone and Vedanta will declare their Q4 March 2018 results today, 3 May 2018.

InterGlobe Aviation's net profit fell 73.3% to Rs 117.64 crore on 19.6% increase in net sales to Rs 5799.11 crore in Q4 March 2018 over Q4 March 2017. The result was announced after market hours yesterday, 2 May 2018.

Siemens' net profit rose 18% to Rs 219.70 crore on 10.6% increase in net sales to Rs 3163.10 crore in Q2 March 2018 over Q2 March 2017. The result was announced after market hours yesterday, 2 May 2018.

On a consolidated basis, Tata Power reported a net profit of Rs 1477.50 crore in Q4 March 2018 compared with net loss of Rs 226.93 crore in Q4 March 2017. Net sales rose 12.70% to Rs 7895.23 crore in Q4 March 2018 over Q4 March 2017. The result was announced after market hours yesterday, 2 May 2018.

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