Indices may open in negative zone

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 29 points at the opening bell. State Bank of India and Tata Motors will declare their quarterly results on 25 October 2019.

Overseas, Asian shares inched up on Friday as positive earnings offset economic growth concerns.

U.S. stock benchmarks closed mixed Thursday, with the Dow pinned lower by a tumble in shares of 3M, amid a flurry of corporate quarterly results rolling out on Wall Street.

U.S. economic reports, however, were mixed on Thursday, with durable-goods orders dropping 1.1% last month, the government said Thursday. The decline over the past 12 months steepened to 5.4%, marking the biggest yearly drop-off since the middle of 2016. And sales of newly constructed homes in the U.S. decreased 0.7% on a monthly basis in September to a seasonally-adjusted annual rate of 701,000, the government reported Wednesday.

The ECB left its main deposit facility rate at negative 0.5% and its main lending rate at 0%. The rate-setting Governing Council repeated that it expects to keep rates at present or lower levels until inflation, which has remained stubbornly low, robustly converges with its target of near but just below 2%. It also reiterated that it will begin a controversial bond-buying program at a pace of euro 20 billion a month beginning in November.

Back home,key equity barometers ended with small losses on Thursday. The barometer index, the BSE Sensex, fell 38.44 points or 0.10% to 39,020.39. The Nifty 50 index declined 21.50 points or 0.19% to 11,582.60.

The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 72.87 crore yesterday, 24 October 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 738.75 crore yesterday, 24 October 2019, as per provisional data.

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