Market may see slightly higher opening

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 higher on Thursday as negotiations on a Brexit deal continued.

US stocks fell on Wednesday as weak US economic data and simmering geopolitical tensions spooked buyers away from the equities market, despite a string of generally positive third-quarter earnings reports.

US President Donald Trump on Wednesday reportedly said Washington was in talks with some new people in Europe about trade issues and he hoped the discussions would be successful, as Italy's president urged Trump to avoid counterproductive tariffs.

Meanwhile, US and Chinese trade negotiators are reportedly working on nailing down a Phase 1 trade deal text for their presidents to sign next month. US Treasury Secretary Steven Mnuchin was quoted as saying that he was prepared to travel to Beijing for more meetings if necessary.

Back home,key benchmark indices ended higher on Wednesday, tracking positive Asian cues and decent Q2 earnings. The key barometers advanced for fourth straight session even though the market breadth was titled in favour of sellers. The barometer index, the BSE Sensex, rose 92.90 points or 0.24% to 38,598.99. The Nifty 50 index rose 43.25 points or 0.38% to 11,471.55.

The trading activity on that day showed that the foreign portfolio investors (FPIs) bought shares worth a net Rs 686.33 crore yesterday, 16 October 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 1576.73 crore yesterday, 16 October 2019, as per provisional data.

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