Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 56 points at the opening bell. IndusInd Bank and TCS will declare their Q2 results today, 10 October 2019.
Overseas, most Asian stocks were trading higher on Thursday. China has lowered expectations for significant progress from this week's trade talks with the United States, reports indicated, even as President Donald Trump on Wednesday expressed fresh optimism.
Top US and Chinese trade and economic officials will meet in Washington on Thursday and Friday to try to end a trade war that is slowing the global economy. Chinese Vice Premier Liu He, US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin are due to take part.
US stocks gained on Wednesday on hopes of progress in US-China trade talks, though stocks pared gains late after Chinese officials said Beijing had lowered expectations for negotiations this week.
Most Federal Reserve policymakers supported the need for an interest rate cut in September, minutes of the central bank's last policy meeting showed, but they remained divided on the path ahead for monetary policy. The readout of the meeting, released on Wednesday, also showed that the Fed agreed it would soon need to discuss increasing the size of its balance sheet following ructions in short-term money markets.
Back home,the market settled with robust gains on Wednesday, due to bargain hunting. The rally were supported by firmness in banking and financial shares. The barometer index, the BSE Sensex, jumped 645.97 points or 1.72% to 38,177.95. The Nifty 50 index rose 186.90 points or 1.68% to 11,313.30.
The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 485.24 crore yesterday, 9 October 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 956.26 crore yesterday, 9 October 2019, as per provisional data.
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