You are here: Home » News-CM » Equities » Market Report
Business Standard

Flat opening on the cards

Topics
Business Finance

Capital Market 

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 7 points at the opening bell.

Overseas, most Asian stocks were trading higher on Wednesday as better-than-expected Apple Inc. earnings drove some regional tech gains although broader confidence was capped by worries about the economic impact of China's virus outbreak.

In US, stocks recovered some ground on Tuesday, after worries about the impact of China's coronavirus outbreak on global economic growth sparked the biggest one-day selloff since early October on Monday.

Back home, domestic shares declined for a second straight session on Tuesday amid weak global sentiment. Global stock markets were under pressure after the death toll and incidence rate of the Chinese coronavirus escalated over the weekend. Investors also turned cautious ahead of the Union Budget on Saturday, 1 February 2020. The barometer BSE S&P Sensex fell 188.26 points or 0.46% to 40,966.86. The Nifty 50 index lost 58.75 points or 0.48% to 12,060.25.

The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 1357.56 crore yesterday, 28 January 2020, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 711.70 crore, yesterday, 28 January 2020, as per provisional data.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, January 29 2020. 07:48 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU