Market may halt recent upmove

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 35 points at the opening bell. Ambuja Cements and Reliance Industries will unveil their quarterly results today, 18 October 2019.

The Reserve Bank of India (RBI) will today, 18 October 2019 announce the minutes of its fourth bi-monthly monetary policy review meeting held on 4 October 2019.

Overseas, Asian stocks were trading lower on Friday on concern about the Chinese economy. The China Q3 GDP Growth Rate will be announced today, 18 October 2019.

US stocks rose on Thursday as investor sentiment was buoyed by a string of corporate earnings beats and encouraging geopolitical developments.

Back home,key benchmark indices rallied on Thursday, supported by banks, autos and FMCG stocks. Sentiment got a boost after European Union (EU) and UK negotiators reached a draft agreement on a new Brexit deal. Key domestic barometers extended gains to the fifth day. The barometer index, the BSE Sensex, rose 453.07 points or 1.17% to 39,052.06. The Nifty 50 index rose 122.35 points or 1.07% to 11,586.35.

The trading activity on that day showed that the foreign portfolio investors (FPIs) bought shares worth a net Rs 1158.63 crore yesterday, 17 October 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 511.76 crore yesterday, 17 October 2019, as per provisional data.

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