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Market may see flat opening

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Key benchmarks indices may may see flat opening as steep gains in the past two sessions may encourage traders to take some profits off the table. Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 2.50 points at the opening bell.

Overseas, most Asian shares traded higher in Tuesday, with US President Donald Trump continuing his visit to Japan. US President Trump is currently in Japan as part of a four-day state visit, where he said during a Monday news conference with Japanese Prime Minister Shinzo Abe that he hoped to announce a trade deal with the country soon.

Provisional results from European Union (EU) elections also buoyed markets after pro-union parties kept a firm grip on power in elections to the European Parliament.

The US stock market was closed on Monday, 27 May 2019, in observance of Memorial Day.

Closer home, foreign portfolio investors (FPIs) bought shares worth a net Rs 1,215.36 crore on 27 May 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 327.86 crore on 27 May 2019, as per provisional data.

Local stocks logged modest gains on Monday, 27 May 2019, led by buying demand in HDFC twins and Larsen & Toubro (L&T). The Sensex and the Nifty, both, settled at record high. The Nifty ended above 11,900 mark. The barometer index, the S&P BSE Sensex, rose 248.57 points or 0.63% to 39,683.29, a record closing high. The Nifty 50 index rose 80.65 points or 0.68% to 11,924.75, a record closing high.

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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, May 28 2019. 07:52 IST