Market geared for weak opening

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 87 points at the opening bell.

Overseas, most Asian markets are closed on account of the New Year holiday.

In US, stocks finished Tuesday trade with modest gains on low volumes ahead of the New Year holiday on Wednesday.

On economic front, the October Case-Shiller home price index showed home prices rising by 3.3% in 20 major metropolitan areas across the US, up from a 3.2% rise in September.

The Conference Board's index of consumer confidence fell slightly to 126.5 in December, from a revised reading of 126.8 in November.

Back home, key equity market barometers declined in a lacklustre session on Tuesday. Trading activity remained thin amid the holiday season in major global markets. The barometer index, the BSE Sensex, fell 304.26 points or 0.73% to 41,253.74. The Nifty 50 index fell 87.40 points or 0.71% to 12,168.45.

The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 1265.10 crore yesterday, 31 December 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 585.07 crore, yesterday, 31 December 2019, as per provisional data.

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