Weak opening on the cards

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could shed 137 points at the opening bell.

Overseas, Asian markets were trading lower on Wednesday after the Middle East tensions flared following Iran's attack on military facilities in Iraq hosting American troops.

In US, stock benchmarks ended slightly lower Tuesday, as concerns about the possibility of war in the Middle East overshadowed favourable US economic data.

In economic data, the US ISM service sector index rose to a four-month high of 55 in December, according to the Institute for Supply Management. The US Commerce Department also reportedly said the trade deficit narrowed in November to a 3-year low, but factory orders fell 0.7% in November.

Back home, domestic shares bounced back on Tuesday, supported by positive global markets. The barometer BSE S&P Sensex rose 192.84 points or 0.47% to 40,869.47. The Nifty 50 index advanced 59.90 points or 0.50% to 12,052.95.

The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 682.23 crore yesterday, 7 January 2020, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 311.19 crore, yesterday, 7 January 2020, as per provisional data.

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