Indices may open on positive note

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 41 points at the opening bell.

Overseas, Asian stocks were trading higher on Wednesday on growing investor confidence that the Fed will cut interest rates this year.

US stocks logged strong gains on Tuesday after Washington rekindled trade talks with Beijing, boosting sentiment along with growing investor confidence that the Fed will cut interest rates this year.

The Fed is expected to leave borrowing costs unchanged this time but possibly lay the groundwork for a rate cut later this year.

U.S. President Donald Trump on Tuesday reportedly said that there will be an extended meeting with President Xi Jinping of China at the Group of 20 meeting in Japan.

Back home,domestic shares ended the volatile trading session yesterday, 18 June 2019 with small gains. The Sensex settled above the psychological 39,000 level after moving above and below that level in intraday trade. The barometer index, the S&P BSE Sensex, gained 85.55 points or 0.22% to 39,046.34. The Nifty 50 index gained 19.35 points or 0.17% to 11,691.50.

The trading activity on that day showed that the foreign portfolio investors (FPIs) bought shares worth a net Rs 31.73 crore yesterday, 18 June 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 181.03 crore yesterday, 18 June 2019, as per provisional data.

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