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Indices may open higher

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Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 10 points at the opening bell.

The all-India general CPI inflation jumped to 7.35% in December 2019 (new base 2012=100), compared with 5.54% in November 2019. The corresponding provisional inflation rate for rural area was 7.26% and urban area 7.46% in December 2019 as against 5.27% and 5.76% in November 2019.

Overseas, Asian markets were trading higher on Tuesday as investors await China's trade data ahead of a long-anticipated phase one deal signing with the US this week. Optimism also rose as the US removed China from a list of currency manipulators.

In US, the S&P 500 and Nasdaq hit all-time high on Monday, as investors awaited the planned signing of a phase one US-China trade deal later in the week and prepared for fourth-quarter earnings season to move into full swing.

Back home, key benchmark indices hit record highs on Monday, supported by positive global shares. The market also reacted to the positive IIP numbers released by the government on Friday. The barometer BSE S&P Sensex rose 259.97 points or 0.62% to 41,859.69, its record closing high. The index hit a record high of 41,899.63 in intraday today.

The trading activity on that day showed that the foreign portfolio investors (FPIs) bought shares worth a net Rs 68.24 crore yesterday, 13 January 2020, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 47.17 crore, yesterday, 13 January 2020, as per provisional data.

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

First Published: Tue, January 14 2020. 07:51 IST
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