The market may rise on bargain hunting after recent losses. Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 7.50 points at the opening bell.
Overseas, Asian shares were mixed as tremors from the collapse of the Turkish lira ebbed a little. Ahead, a barrage of economic data out of China is expected later in the day. US stocks settled with small losses Monday, with the S&P 500 and the Dow Jones Industrial Average down for a fourth straight session as the ongoing turmoil in Turkey dampened investors' appetite for riskier assets.
Closer home, foreign portfolio investors (FPIs) sold shares worth a net Rs 971.86 crore yesterday, 13 August 2018, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 216.29 crore yesterday, 13 August 2018, as per provisional data.
On the macro front, the all-India general Consumer Price Index (CPI) inflation dipped to nine-month low of 4.17% in July 2018 (new base 2012=100), compared with 4.92% in June 2018. The CPI inflation figure for June 2018 is revised downwards to 4.9% from 5.0% reported earlier. The corresponding provisional inflation rate for rural area was 4.11% and urban area 4.32% in July 2018 as against 4.93% and 4.85% in June 2018. The data was announced after market hours yesterday, 13 August 2018.
Domestic stocks logged modest losses yesterday, 13 August 2018, weighed by mounting currency crisis in Turkey, which raised the alarm for possible contagion into other markets. The barometer index, the S&P BSE Sensex, lost 224.33 points or 0.59% to settle at 37,644.90. The Nifty 50 index fell 73.75 points or 0.65% to settle at 11,355.75. Indices remained in negative zone throughout the day.
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