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Market may open slightly higher

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Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 6 points at the opening bell.

Fitch Ratings on Tuesday forecasted India's economic growth at 6.6% during the current year, down from 6.8% in the previous year, and said the government has only limited room to ease fiscal policy because of high debt. It said GDP growth is likely to rebound to 7.1% next year.

Overseas, Asian stocks are trading higher on Wednesday on hopes of diminishing US-China tensions and reduced risk of no-deal Brexit.

US stocks ended on a mixed note on Tuesday, with a rally in energy and industrial shares countering a drop in the technology and real estate sectors as investors favoured value over growth.

Back home,The domestic stock market were shut yesterday, 10 September 2019, on account of Muharram.

Key equity benchmarks reversed early losses and ended with modest gains on Monday, amid positive global cues. The barometer index, the S&P BSE Sensex, rose 163.68 points or 0.44% to 37,145.45. The Nifty 50 index rose 56.85 points or 0.52% to 11,003.05.

The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 188.08 crore on Monday, 9 September 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 686.47 crore on Monday, 9 September 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, September 11 2019. 08:25 IST
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