Indices may open in negative zone

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 25.50 points at the opening bell. Axis Bank, Bajaj Finance, HCL Technologies and Housing Development Finance Corporation will announce October-December 2018 quarterly results today, 29 January 2019.

Investors will focus on interim budget to be announced on Friday, 1 February 2019. The interim budget will be the last one presented by the current NDA government led by Prime Minister Modi, before the 2019 general elections in April.

Trading could be volatile this week as traders roll over positions in the F&O segment from the near month January 2019 series to February 2019 series. The January 2019 F&O contracts expire on Thursday, 31 January 2019.

Overseas, Asian shares edged lower on Tuesday as prospects for a long-awaited U.S-China trade deal was dealt another blow after the United States leveled sweeping criminal charges against China's telecom giant Huawei. The US Justice Department unsealed indictments against China's top telecom equipment maker, Huawei, accusing it of bank and wire fraud to evade Iran sanctions and conspiring to steal trade secrets from T-Mobile US Inc.

US stocks closed lower Monday in the wake of disappointing earnings and Nvidia Corp. Investors turned cautious at the start of a busy week packed with earnings, economic data, a Federal Reserve meeting and a new round of U.S-China trade talks.

The Federal Reserve of Chicago's national activity index rose to 0.27 in December, up from 0.21 in November. Growth in Texas manufacturing activity accelerating in January, according to the Federal Reserve Bank of Dallas. It's monthly manufacturing index rose from 7.3 to 14.5.

Back home,domestic stocks dropped sharply yesterday, 28 January 2019 led by slide in ICICI Bank, Reliance Industries and ITC. The Sensex settled below 36,000 mark while the Nifty fell below 10,700 mark. Negative global cues spoiled investors sentiment.

The trading activity on that day showed that the foreign portfolio investors (FPIs) bought shares worth a net Rs 223.44 crore yesterday, 28 January 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 92.32 crore yesterday, 28 January 2019, as per provisional data.

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