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Positive opening expected

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Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 54 points at the opening bell.

Overseas, most Asian markets were trading lower on Thursday as investors await the passage and details of a $2 trillion stimulus package in the United States to combat the economic fallout from the coronavirus.

In US, stocks on Wednesday finished well off their highs and the Nasdaq turned negative in the final minutes of trade, as the passage of a $2 trillion economic rescue package appeared to hit a snag.

Back home, the domestic stock market surged on Wednesday, tracking strong global shares. The rally was triggered by the US policymakers reportedly clearing a $2 trillion stimulus package to fight against fast-spreading coronavirus. The Nifty settled above the 8,300 mark, backed by strength in index major Reliance Industries and private sector banks. The barometer index, the S&P BSE Sensex, surged 1,861.75 points or 6.98% at 28,535.78. The Nifty 50 index jumped 516.80 points or 6.62% at 8,317.85.

The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 1893.36 crore yesterday, 25 March 2020, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 737.98 crore, yesterday, 25 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.)

First Published: Thu, March 26 2020. 08:02 IST
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