Stocks may open slightly higher

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 11 points at the opening bell.

Overseas, most Asian markets were trading lower on Monday as investors consolidated gains after scaling 18-month highs last week.

In US, stocks drifted higher on Friday, setting up the major indexes for a strong end to the week.

Investor sentiment was buoyed by reports of strong holiday sales and a report on Chinese industrial production.

As per reports, China's industrial firms grew at the fastest pace in eight months in November. Industrial profits in November rose 5.4% from a year earlier to 593.9 billion yuan ($84.93 billion), compared with a 9.9% drop in October.

Back home, key benchmarks snapped three-day losing run on Friday, amid positive global cues. Fund infusion by the government in some state-run banks also boosted sentiment. The barometer index, the BSE Sensex, rose 411.38 points or 1% to 41,575.14. The Nifty 50 index gained 119.25 points or 0.98% to 12,245.80.

The trading activity on that day showed that the foreign portfolio investors (FPIs) bought shares worth a net Rs 81.37 crore on Friday, 27 December 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 125.77 crore, on Friday, 27 December 2019, as per provisional data.

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