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Stocks may open on flat note

Capital Market 

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 3 points at the opening bell.

Overseas, most Asian stocks were trading higher Wednesday. U.S. stocks closed lower Tuesday after weaving in and out of positive territory all session following Federal Reserve Chairman Jerome Powell's congressional testimony, during which he reiterated the central bank's wait-and-see approach.

Investors have been focused on U.S.-China trade developments after Trump in recent days indicated that he was willing to extend a March 2 deadline for increasing tariffs on some $200 billion in Chinese goods.

In economic data, Consumer confidence surged in February, rising for the first time in four months, as the Conference Board's consumer confidence index rose to 131.4, up from 121.7 in January.

Back home,the market ended the volatile session with modest losses yesterday, 26 February 2019 amid rising geo-political concerns. The Sensex settled below the psychological 36,000 level after moving above and below that level in intraday trade. The Nifty held above 10,800 mark. The Sensex fell 239.67 points or 0.66% to settle at 35,973.71. The Nifty 50 index fell 44.80 points or 0.41% to settle at 10,835.30.

The trading activity on that day showed that the foreign portfolio investors (FPIs) bought shares worth a net Rs 1674.17 crore yesterday, 26 February 2019 as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 720.27 crore yesterday, 26 February 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, February 27 2019. 08:26 IST
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