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Indices May Open On A Positive Note

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Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 21 points at the opening bell.

On the economy front, India's GDP growth has moderated to 4.5% for the quarter ended September 2019 from 5% in June 2019 quarter and 7% in June 2018 quarter.

The Eight Core Industries carrying 40.27% weight in the Index of Industrial Production (IIP) recorded 5.8% decline in the output for October 2019 over October 2018. Its cumulative output rose mere 0.2% in April-October 2019-20.

After two months of negative growth, GST revenues saw a positive growth of 6% in November 2019 over the November 2018 collections. The gross GST revenue collected in the month of November 2019 stood at Rs 1,03,492 crore.

Overseas, Asian stocks were trading higher on Monday as official data over the weekend showed Chinese factory activity rising unexpectedly in November. Also investors clung to hopes Beijing and Washington could reach a compromise in trade talks.

In U S, stocks closed lower on Friday as investors worried about the deterioration in US-China trade relations after a bill supporting Hong Kong protesters was signed by President Trump late on Wednesday.

Back home, key equity market barometers corrected on Friday on worries of slower economic growth in the September quarter. Rising uncertainty over a US-China trade deal also kept sentiment in check. The barometer index, the BSE Sensex, fell 336.36 points or 0.82% to 40,793.81. The Nifty 50 index fell 95.10 points or 0.78% to 12,056.05.

The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 1892.29 crore on Friday, 29 November 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) purchased shares worth a net Rs 953.62 crore on Friday, 29 November 2019, 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: Mon, December 02 2019. 07:59 IST
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