Shares may open higher tracking positive global cues. Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 23.50 points at the opening bell.
Overseas, Asian shares edged higher on Monday, with trade talks between the US and China set to continue in Washington this week after high-level meetings in Beijing concluded on Friday.
US stock indices surged on Friday, 15 February 2019, buoyed by growing optimism that the US and China can strike a trade truce ahead of the March 1 deadline. US stock market will be closed on Monday in observance of the Presidents Day holiday.
In political news, tensions rose in Washington D.C. when President Donald Trump declared a national emergency citing a humanitarian crisis at the Southern Border. In economic news, the Empire State manufacturing index rose 4.9 points in February to 8.8 and industrial production fell 0.6% in January, the first decline in eight months.
Closer home, foreign portfolio investors (FPIs) sold shares worth a net Rs 966.43 crore on 15 February 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 853.25 crore on 15 February 2019, as per provisional data.
Local stocks ended with modest losses on 15 February 2019, led by slide index pivotals. Intraday volatility was high. Global stocks were mixed. The barometer index, the S&P BSE Sensex, fell 67.27 points or 0.19% to settle at 35,808.95. The Nifty 50 index fell 21.65 points or 0.2% to settle at 10,724.40.
On the economic front, India's merchandise exports rose 3.7% to $26.36 billion in January 2019 over a year ago. Meanwhile, merchandise imports was flat at $41.09 billion. The trade deficit for January 2019 was at $14.73 billion as against the deficit of $15.67 billion in January 2018.
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