Market expected to open near flat line

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 8 points at the opening bell.

Overseas, Asian stocks were trading mixed on Wednesday as investors took stock of the spread of a new strain of coronavirus from China and weighed the possible consequences of a global pandemic.

In US, benchmark stock indexes finished lower on Tuesday after news that the Chinese coronavirus had spread to the US raising fears of a pandemic that might affect global economic growth.

Back home, key equity market barometers declined for the second straight session on Tuesday. The sentiment was dented after the International Monetary Fund (IMF) lowered India's growth forecast. Subdued quarterly results by key index constituents and negative global cues also put pressure on domestic shares. The barometer BSE S&P Sensex fell 205.10 points or 0.49% to 41,323.81. The Nifty 50 index lost 54.70 points or 0.45% to 12,169.85.

The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 50.08 crore yesterday, 21 January 2020, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 307.81 crore, yesterday, 21 January 2020, as per provisional data.

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