Market may extend gains on positive Asian signals

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 19.50 points at the opening bell on positive Asian cues.

Overseas, Asian shares were trading higher on Tuesday. China's consumer inflation in September rose 2.5% compared to a year ago and 0.7% higher than August, government data on Tuesday showed.

In US, major benchmarks closed lower Monday as tech weakness prevented stocks from holding on to earlier gains. Investors also remained cautious following last week's equity-market rout, sparked in part by rising US interest rates.

On the data front, US retail sales rose 0.1% in September, less than expected. Excluding car sales, the figure remained flat last month. The Empire State Index meanwhile rose 2.1 points to 21.1 in October, compared with 19 previously. Business inventories for August rose 0.5%.

Closer home, foreign portfolio investors (FPIs) bought shares worth a net Rs 67.86 crore on 15 October 2018, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 294.78 crore on 15 October 2018, as per provisional data.

Trading for the week started on a positive note as key equity indices finished higher in a volatile trade on Monday, 15 October 2018. Indices were choppy in intraday as rising oil prices and a weakening rupee spooked investors during the earnings season, amid negative Asian cues. The Sensex rose 131.52 points or 0.38% to settle at 34,865.10. The Nifty 50 index rose 40 points or 0.38% to settle at 10,512.50.

On the macro front, India's merchandise trade deficit during April-September 2018 was reported at $94.32 billion and $13.98 billion in September 2018, which is the lowest in last 5 months, despite high oil prices.

Merchandise exports in September 2018 exhibited a positive growth of 9.65% in Rupee terms. In dollar terms there was a marginal negative growth in merchandise exports of 2.15% in September 2018. In the first six months (April-September 2018), merchandise exports exhibited a positive growth of 19.93% in Rupee terms and 12.54% in US$ terms over same period last year.

Imports during April-September 2018 exhibited a positive growth of 16.16% in US$ terms. In September 2018, imports exhibited a positive growth of 10.45% in US$ terms (which is the lowest in last 5 months) and 23.78 in Rupee terms.

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