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Market may see strong opening

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Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 185 points at the opening bell.

Overseas, most Asian markets were trading higher on Tuesday as factory data from China held out the hope of a rebound in activity even as other countries across the globe all but shut down.

China's official manufacturing purchasing managers' index (PMI) bounced to 52.0 in March, up from a record-low 35.7 in February.

In US, stocks rose on Monday as President Donald Trump followed last week's massive fiscal stimulus package by extending his stay-at-home guidelines, leaving investors to await more signs on the next stages of a deepening economic crisis.

Back home, domestic shares tumbled on Monday as the coronavirus pandemic continued to spook investors. Market participants were concerned about the rising number of COVID-19 cases and the economic fallout of the worldwide lockdowns. The barometer index, the S&P BSE Sensex, slumped 1,375.27 points or 4.61% at 28,440.32. The Nifty 50 index shed 379.15 points or 4.38% at 8,281.10.

The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 4363.61 crore yesterday, 30 March 2020, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 3550.33 crore, yesterday, 30 March 2020, 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.)

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First Published: Tue, March 31 2020. 08:10 IST
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