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Market may open slightly higher

Capital Market 

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 11 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading mixed on Tuesday, as logistics firm ZTO Express soared in its Hong Kong debut. The firm is the latest U. S.-listed Chinese company to debut in the city.

Investors will remain cautious ahead of the first U. S. presidential debate set to take place later on Tuesday, and as lawmakers continue sporadic efforts to cobble together additional economic stimulus. U.

S. consumer confidence and home price data is also due on Tuesday.

In US, Wall Street rallied to close sharply higher on Monday as investors sought bargains among sectors hardest-hit by the coronavirus recession, now limping toward its ninth month.

U. S. House of Representatives Speaker Nancy Pelosi reportedly said that stimulus talks with Treasury Secretary Steven Mnuchin are due to continue, suggesting a possible progress to end the stalemate.

Domestic markets:

Back home, domestic shares advanced for the second consecutive session on Monday, tracking positive global cues. The barometer index, the S&P BSE Sensex, jumped 592.97 points or 1.59% at 37,981.63. The Nifty 50 index surged 177.30 points or 1.60% at 11,227.55. The 50-unit index has risen 3.91% in two sessions.

Foreign portfolio investors (FPIs) sold shares worth Rs 26.98 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 542.34 crore in the Indian equity market on 28 September, provisional data showed.

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

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First Published: Tue, September 29 2020. 08:17 IST
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