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Market may open on firm note

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The market may open on a firm note on positive Asian stocks. Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could jump 120 points at the opening bell.

GST Council in its 37th meeting held in Goa in 20 September 2019 under the Chairmanship of Union Finance & Corporate Affairs Minister Nirmala Sitharaman took various decisions relating to changes in GST rates, ITC eligibility criteria, exemptions and clarifications on connected issues.

Overseas, Asian shares are trading higher on Monday on hopes of an interim Sino-US tariff deal after the two countries described their talks as productive and constructive.

U.S. stocks closed lower Friday, as investors looked beyond a litany of central-bank decisions of the past week and focused on the state of China-U.S. trade talks.

Back home,domestic shares surged on Friday after the government slashed the corporate tax rate to boost economic growth. The barometer index, the S&P BSE Sensex, rose 1,921.15 points or 5.32% to 38,014.62, its highest closing level since 22 July 2019. The Nifty 50 index rose 569.40 points or 5.32% to 11,274.20, its highest closing level since 26 July 2019.

The trading activity on that day showed that the foreign portfolio investors (FPIs) bought shares worth a net Rs 35.78 crore on Friday, 20 September 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 3001.32 crore on Friday, 20 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: Mon, September 23 2019. 08:29 IST