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Market may open higher

Capital Market 

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 25 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading lower on Tuesday, as Hong Kong-listed shares of HSBC and Standard Chartered continued to see declines following a Monday drop. Markets in Japan are closed on Tuesday for a holiday.

In US, stocks fell on Monday as fears about the potential worsening of the coronavirus pandemic, as well as uncertainty on further U.S. fiscal stimulus, rattled traders.

Concerns over another wave of coronavirus cases came as the U.K. reportedly considers another national lockdown to stop an increase in infections. Bank stocks also contributed to the broader market drop after a report found that a number of global banks moved allegedly illicit funds.

Domestic markets:

Back home, domestic shares tumbled across the board on Monday as dismal global cues and rising COVID-19 cases triggered profit selling. The barometer index, the S&P BSE Sensex, fell 811.68 points or 2.09% at 38,034.14. The Nifty 50 index lost 254.40 points or 2.21% at 11,250.55.

Foreign portfolio investors (FPIs) sold shares worth Rs 539.81 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 517.95 crore in the Indian equity market on 21 September, provisional data showed.

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

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First Published: Tue, September 22 2020. 08:20 IST
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