MARKET EYE-SGX Nifty flat; Bharti Infratel debuts
* Nifty futures on the Singapore Exchange unchanged. The MSCI-Asia Pacific index, excluding Japan gains 0.43 percent. * Bharti Infratel Ltd debuts after raising about $760 million in India's biggest IPO in two years. Traders expect shares to come under pressure due to concerns about the outlook for mobile tower operators. * Foreign investors sold 1.33 billion rupees of stocks, while domestic institutions bought 1.33 billion rupees of stocks on Thursday, when India's BSE index fell 0.48 percent. * Traders expect market to trade in a narrow range, with select oil marketing companies shares to be traced on talks of hike in diesel prices.
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India's second-biggest lender by assets booked a 69 percent fall in quarterly profit on Friday, due to higher provisions for bad loans and a surge in tax expenses. Full Article