You are here: Home » News-CM » Equities » Market Report
Business Standard

Market may open lower

Capital Market 

Indian stocks are expected to open on weak note. Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 110 points at the opening bell.

India's industrial output contracted to 16.6% in June as against a 1.3% growth year-on-year (YoY), as per the Index of Industrial Production (IIP) data released by the government on August 11.

Overseas, Asian stocks are trading lower on Wednesday after Wall Street dipped amid growing uncertainty about an additional round of US fiscal stimulus.

In US, stocks closed lower on Tuesday on growing uncertainty about breaking a stalemate in Washington over a fiscal stimulus deal.

Political gridlock between the Republican White House and congressional Democrats over coronavirus relief continued for a fourth day, with each party blaming the other for intransigence.

Back home, key domestic benchmarks ended with decent gains on Tuesday, supported by banks and metal stocks amid positive global cues. The barometer index, the S&P BSE Sensex, rose 224.93 points or 0.59% at 38,407.01. The Nifty 50 index added 52.35 points or 0.46% at 11,322.50.

Foreign portfolio investors (FPIs) bought shares worth Rs 1,013.66 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,415.54 crore in the Indian equity market on 11 August, provisional data showed.

Powered by Capital Market - Live News

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

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, August 12 2020. 08:13 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU