You are here: Home » News-CM » Equities » Market Report
Business Standard

Shares may slide at opening bell

Capital Market 

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 26 points at the opening bell on negative cues from other Asian shares.

Overseas, Asian shares were trading lower on Thursday. US stock indices ended the choppy session moderately higher Wednesday, following the release of minutes from the US Federal Reserve's January meeting.

Fed minutes affirmed it would be "patient" on interest rate rises. Fed highlighted downside risks, including "the possibilities of a sharper-than-expected slowdown in global economic growth, particularly in China and Europe, a rapid waning of fiscal policy stimulus, or a further tightening of financial market conditions.

The minutes showed extensive discussion of market conditions, particularly on the emphasis that Fed actions were having on prices of risky assets like stocks and corporate bonds. The Fed also judged that a "patient" approach to interest rate hikes would be prudent as it continued to weigh various headwinds to growth.

On the trade front, President Donald Trump said Tuesday that the US may not increase tariffs on Chinese goods as scheduled after March 1, but he did raise the specter of addressing auto tariffs in Europe.

Closer home, foreign portfolio investors (FPIs) bought shares worth a net Rs 713.47 crore on 20 February 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 113.27 crore on 20 February 2019, as per provisional data.

Domestic stocks ended with strong gains yesterday, 20 February 2019, mirroring strength in other global stocks amid signs that US-China trade relations could be improving. The barometer index, the S&P BSE Sensex, surged 403.65 points or 1.14% to settle at 35,756.26. The Nifty 50 index surged 131.10 points or 1.24% to settle at 10,735.45.

On the economic front, the government on Wednesday decided to infuse Rs 48,239 crore in 12 public sector banks as part of the recapitalisation plan, which will help them maintain regulatory capital requirements and finance growth plans.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, February 21 2019. 07:59 IST