Marginally positive opening expected

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 12 points at the opening bell.

Overseas, Asian stocks were trading lower on Thursday as investors remained anxious about the spread of a new flu-like virus in China.

In US, stocks ended steady on Wednesday helped by good earnings reports from technology stocks and news that Chinese authorities were taking steps to contain a possible coronavirus pandemic, relieving investor fears about a threat to global economic growth.

Back home, key domestic benchmarks declined for third straight session on Wednesday. Large-caps witnessed selling pressure due to concerns over stretched valuations. Investors also turned cautious ahead of the Union Budget on 1 February 2020. The barometer BSE S&P Sensex fell 208.43 points or 0.50% to 41,115.38. The Nifty 50 index lost 62.95 points or 0.52% to 12,106.90.

The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 176.43 crore yesterday, 22 January 2020, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 326.22 crore, yesterday, 22 January 2020, as per provisional data.

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