Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 27.50 points at the opening bell amid positive cues from other Asian shares.
Overseas, Asian shares were trading higher. China on Monday announced that its official economic growth came in at 6.6% in 2018, the slowest pace since 1990. Fourth quarter GDP growth was 6.4%. That was a decline from the 6.5% year-over-year growth in the third quarter of 2018.
The US stock market closed higher Friday, extending its winning streak to a fourth session, on media reports that stoked hopes for progress in trade talks between the US and China. Optimism over a potential bilateral deal helped to offset worries about the prolonged partial government shutdown and mixed corporate results.
On the US data front, US industrial production rose 0.3% in December, the Federal Reserve reported Friday. The University of Michigan's consumer confidence index fell to a more than two-year low of 90.7 in January, down from 98.3 in December.
US markets will be closed Monday in honor of Martin Luther King Jr. Day.
In Europe, investors are waiting to hear British Prime Minister Theresa May's 'Plan B' for Brexit which is due to be presented to parliament later on Monday.
Closer home, foreign portfolio investors (FPIs) sold shares worth a net Rs 124.91 crore on 18 January 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 0.97 crore on 18 January 2019, as per provisional data.
Domestic stocks eked out small gains on Friday, 18 January 2019. Global stocks rose Friday amid optimism for progress in US-China trade talks. The barometer index, the S&P BSE Sensex, rose 12.53 points or 0.03% to settle at 36,386.61. The Nifty 50 index rose 1.75 points or 0.02% to settle at 10,906.95.
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