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Market may open higher

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Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 16 points at the opening bell.

Overseas, most Asian stocks rose as investors await the Federal Reserve's policy-setting meeting due to start Tuesday.

U.S. stocks closed higher Monday on the back of strong gains in social media and entertainment shares such as Facebook Inc. and Netflix Inc.

The US Federal Reserve begins a two-day meeting later on Tuesday. The central bank is expected to leave borrowing costs unchanged this time but possibly lay the groundwork for a rate cut later this year.

Back home,the market declined sharply on first trading day of the week yesterday, 17 June 2019 led by slide in index pivotals Reliance Industries (RIL) and Larsen & Toubro (L&T). The Sensex settled below the psychological 39,000 mark. The Nifty ended below 11,700 level. The barometer index, the S&P BSE Sensex, lost 491.28 points or 1.25% to 38,960.79. The Nifty 50 index lost 151.15 points or 1.28% to 11,672.15.

The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 331.27 crore yesterday, 17 June 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 1257.86 crore yesterday, 17 June 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: Tue, June 18 2019. 08:30 IST