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Market may open marginally higher

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Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 12 points at the opening bell.

Overseas, Asian stocks were trading higher on Tuesday.

In US, stock indexes fell on Monday, after U S manufacturing data showed a continued contraction in November and fresh trade jitters put investors on the defensive.

On the economic front, US manufacturing survey pointed to a fourth straight month of contraction for the sector, with the Institute for Supply Management's purchasing manager's index unexpectedly falling to 48.1% in November from 48.3% in October.

US Commerce Secretary Wilbur Ross reportedly said on Monday that President Trump is prepared to levy more duties on Chinese goods in the absence of a trade deal, as the clock ticks toward the Dec. 15 deadline for placing 15% tariffs on consumer goods from China. On the other hand, China is insisting that U.S. tariffs be rolled back as part of any phase one trade deal.

Back home, Key equity barometers ended almost flat after a volatile session on Monday. Weak economic data and subdued auto sales numbers impacted sentiment. Investors were cautious ahead of the central bank's monetary policy meeting on Thursday, 5 December 2019. The barometer index, the BSE Sensex, rose 8.36 points or 0.02% to 40,802.17. The Nifty 50 index fell 7.85 points or 0.07% to 12,048.20.

The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 1731.33 crore yesterday, 2 December 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 753.99 crore, yesterday, 2 December 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, December 03 2019. 07:56 IST
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