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Soft opening expected

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Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 23 points at the opening bell.

Overseas, most Asian stocks were trading lower on Wednesday as investors awaited the signing of an initial US-China trade deal, with sentiment somewhat dented by comments reportedly from the US Treasury Secretary's that tariffs would remain in place for now.

US Treasury Secretary Steven Mnuchin reportedly said on late Tuesday that the United States would keep in place tariffs on Chinese goods until the completion of a second phase of a US-China trade agreement.

In US, stocks posted a mixed finish on Tuesday as doubts about the extent of import tariff reductions in a trade deal with China saw equities retreat from fresh intraday records for the benchmark indexes.

Back home, key benchmark indices ended at record closing high on Tuesday, but gains were limited as surge in domestic inflation numbers dashed hopes of further monetary easing by the central bank. The broader market, however, ended firm amid positive global cues. The barometer BSE S&P Sensex rose 92.94 points or 0.22% to 41,952.63, its record closing high. The index hit a record high of 41,994.26 in intraday today.

The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 205.56 crore yesterday, 14 January 2020, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 642.47 crore, yesterday, 14 January 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: Wed, January 15 2020. 08:01 IST
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