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Indices set to open on a flat note

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Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 3 points at the opening bell.

Overseas, Asian stocks were trading mixed on Thursday in wake of the signing of the US-China trade deal, expectations for which had driven global equities to record highs.

In US, stock indexes closed higher on Wednesday afternoon, though the major benchmarks ended the day well off session highs, after President Donald Trump signed the first phase of a trade pact with China, marking a truce in the dispute over import tariffs which has unsettled markets world-wide and slowed economic growth.

All three major benchmarks set record intraday highs, while the Dow and S&P 500 ended the session at record closing levels.

In economic data, US wholesale inflation rose 0.1% in December, according to the Labor Department's producer-price index. Year over year, producer prices rose just 1.3%, roughly half the rate in 2018.

Back home, Key barometers snapped four-day rising streak on Wednesday, as weak global cues triggered profit selling in the domestic market. The Sensex and the Nifty opened lower and hit fresh intraday low in afternoon trade. Both the indices sharply pared losses in late trade as buying emerged at lower levels. The barometer BSE S&P Sensex fell 79.90 points or 0.19% to 41,872.73. The Nifty 50 index fell 19 points or 0.15% to 12,343.30.

The trading activity on that day showed that the foreign portfolio investors (FPIs) bought shares worth a net Rs 279.53 crore yesterday, 15 January 2020, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 648.34 crore, yesterday, 15 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: Thu, January 16 2020. 08:02 IST
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