Sensex Set To Open Higher On Strong Global Cues, ICICI Bank In Focus

Foreign institutional investors bought shares worth Rs. 311 crore and domestic institutional investors bought shares worth Rs. 780 crore on Monday.

Sensex and Nifty are set to open higher in trades today tracking gains on Nifty futures traded on the Singapore Exchange amid strong global cues.
The Nifty futures traded on Singapore Exchange also known as the SGX Nifty was up 0.32 per cent or 27 points at 8,536.

Meanwhile, other Asian markets rose in early trade on Tuesday ahead of the US presidential election, with investor sentiment buoyed by improving prospects for Democrat Hillary Clinton to win.

Boosting Clinton's chances of winning, and markets globally, was the FBI's statement on Sunday standing by its July finding that Clinton was not guilty of criminal wrongdoing in her use of a private email server. That came after the Bureau announced on Oct. 28 it was reviewing additional emails relating to the server while Clinton was secretary of state, sending markets around the world tumbling. 

Clinton is seen by investors as offering greater certainty and stability, and, until last week's stumble, had been seen as the likely victor in Tuesday's presidential vote. 

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.2 percent.

Overnight, Wall Street surged on the eve of the US presidential election, with Democratic nominee Hillary Clinton's prospects brightening after the FBI said it would not press criminal charges against her over the use of a private email server.

US stocks on Monday racked up their biggest one-day percentage gain since March 1, while a volatility measure recorded its biggest drop since late June. 

The Dow Jones industrial average jumped 2.08 percent to end at 18,259.67 points and the S&P 500 surged 2.22 percent to 2,131.52. The Nasdaq Composite added 2.37 percent to 5,166.17.

Back home, foreign institutional investors bought shares worth Rs. 311 crore and domestic institutional investors bought shares worth Rs. 780 crore on Monday.

ICICI Bank will be in focus today after India's biggest private sector lender post market hours on Monday reported net profit of Rs. 3,102 crore on the back of lower tax expenses while its provisions for bad loans surged more than seven times.

Bad loans as a percentage of outstanding loans rose to 6.82 per cent at the end of September from 5.87 per cent at the end of June. (With inputs from Reuters)
Source - NDTV

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