Indices may open marginally higher

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 21 points at the opening bell.

Overseas, most Asian markets were trading higher as a day passed without a new escalation in the Middle East and Wall Street erased early losses to end higher.

In US, stocks staged a U-turn on Monday to close at session highs, as investors brushed aside concerns about escalating tensions in the Middle East.

In economic data, the IHS Markit purchasing managers index for the US services sector came in at 52.8 in December, versus 51.6 in November, indicating continued expansion.

Back home, key domestic equity market slumped on Monday, as tensions in the Middle East dragged global shares lower. The barometer BSE S&P Sensex tanked 787.98 points or 1.90% to 40,676.63. The Nifty 50 index slumped 233.60 points or 1.91% o 11,993.05.

The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 103.84 crore yesterday, 6 January 2020, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 23.70 crore, yesterday, 6 January 2020, as per provisional data.

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