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Market could recover on value buying

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Trading of 50 index futures on the stock exchange indicates that the could rise 25.50 points at the opening bell.

Overseas, Asian shares were mixed on Wednesday after a mixed finish on Wall Street overnight. US stocks closed mostly lower Tuesday after a volatile session as investors continued to fret over the implication of higher bond yields on equities. The Nasdaq, however, snapped a three-day losing streak in line with a rebound in

US said Tuesday that he did not like the Federal Reserve's decision to continue hiking interest rates. The last raised its benchmark interest rate by a quarter point in September, while raising its expectations for economic growth for this year and next.

On the US data front, the small-business optimism index fell 0.9 point in September, falling from a 45-year high to a seasonally adjusted level of 108.8.

Closer home, foreign portfolio investors (FPIs) sold shares worth a net Rs 1242.46 crore on 9 October 2018, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 1526 crore on 9 October 2018, as per provisional data.

Key equity indices ended with modest losses yesterday, 9 October 2018, as investors remained on the sidelines ahead of corporate results and weakening global cues. Falling rupee and boiling also put pressure on bourses. Trading was volatile throughout the session as indices swung between gains and losses in the intraday. The Sensex fell 174.91 points or 0.51% to settle at 34,299.47. The 50 index fell 47 points or 0.45% to settle at 10,301.05.

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

First Published: Wed, October 10 2018. 08:05 IST
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