Stocks may open positive

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 138 points at the opening bell.

Overseas, most Asian markets were trading lower on Tuesday a day after Wall Street's historic market rout, as the coronavirus remained a major risk to economic growth.

In US, the Dow ended nearly 3,000 points lower on Monday, capping an ugly session for Wall Street that saw circuit breakers temporarily halt trading for 15 minutes, amid rising fears that fresh Federal Reserve stimulus won't be enough to combat the threat of lost jobs and wages from the coronavirus outbreak.

Back home, the market resumed sell-off on Monday after a day's halt as investors respond to a rapidly escalating economic hit from the coronavirus and a massive emergency move by the US Federal Reserve to ease policy. The barometer index, the S&P BSE Sensex, slumped 2,713.41 points or 7.96% at 31,390.07. The Nifty 50 index crashed 757.80 points or 7.61% at 9,197.40.

The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 3809.93 crore on yesterday, 16 March 2020, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 2614.54 crore, yesterday, 16 March 2020, as per provisional data.

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