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Market set to open lower

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Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 36 points at the opening bell.

Overseas, Asian stocks were trading lower on Wednesday after an overnight fall in US stocks.

In US, stocks fell on Tuesday, after President Donald Trump reportedly said it may take until after the 2020 US elections to complete a trade deal with China.

Trade tensions escalated on other fronts, including Brazil, Argentina and France after the US President reportedly said he was bringing back tariffs on Brazilian and Argentinian steel, while the administration also proposed tariffs of up to 100% on $2.4 billion in French imports.

Back home, key equity benchmarks fell on Tuesday in line with other global stock markets as investors panicked after the US decision to impose tariffs on Argentina and Brazil. Concern about India's slowing economic growth and unabated foreign fund outflows also weighed heavily on the market sentiments. Investors were also cautious ahead of the central bank's monetary policy outcome on Thursday, 5 December 2019. The barometer index, the BSE Sensex, fell 126.72 points or 0.31% to 40,675.45. The Nifty 50 index fell 54 points or 0.45% to 11,994.20.

The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 1,131.12 crore yesterday, 3 December 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 963.97 crore, yesterday, 3 December 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, December 04 2019. 08:03 IST
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