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Market may open lower

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Trading of 50 index futures on the stock exchange indicates that the could fall 26 points at the opening bell. Market will react industrial production and inflation data released by the government after market hours yesterday, 12 March 2019.

India's industrial production (base year 2011-12=100) rose at slower pace of 1.7% in January 2019, compared with 2.6% growth recorded in December 2018. The industrial production growth for December 2018 has been revised upwards from 2.4% increase reported provisionally.

The all-general CPI inflation rose to 2.57% in February 2019 (new base 2012=100), compared with 1.97% in January 2019. The corresponding provisional inflation rate for rural area was 1.81% and urban area 3.43% in February 2019 as against 1.22% and 2.91% in January 2019. The core CPI inflation eased to 5.29% in February 2019 compared with 5.35% in January 2019.

Overseas, most Asian stocks were trading lower as investors awaited another make-or-break on Brexit. US stocks closed mostly higher Tuesday, led by the health care and

In US economic data, the consumer-price index rose 0.2% in February following three months of no change, the Labor Department said. Core prices, which strip out volatile changes in the cost of an rose 0.1%. Year-over-year, overall inflation fell from growth of 1.6% in January to 1.5%, while annual core inflation fell from 2.2% to 2.1%.

In Europe, UK lawmakers once again rejected Theresa May's Brexit deal. Parliament will vote later Wednesday on whether to leave the EU with no deal and if that fails, another vote on Thursday to decide whether to extend the Brexit deadline.

Back home,key equity indices reported sharp gains yesterday, 12 March 2019 on strong buying demand in index pivotals. The Sensex rose 481.56 points or 1.30% to settle at 37,535.66, its highest closing level since 17 September 2018. The 50 index rose 133.15 points or 1.19% to settle at 11,301.20, its highest closing level since 17 September 2018.

The trading activity on that day showed that the foreign portfolio investors (FPIs) bought shares worth a net Rs 2477.72 crore yesterday, 12 March 2019, as per provisional data released by the Domestic institutional investors (DIIs) sold shares worth a net Rs 990.48 crore yesterday, 12 March 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: Wed, March 13 2019. 08:17 IST
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