Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 4 points at the opening bell.
On macro front, a two-day meet of the monetary policy committee (MPC) of the Reserve Bank of India (RBI) will conclude today, 7 December 2016. It will be interesting to watch RBI's monetary policy stance this time in a scenario of government's recent historic move of demonetization of higher denomination notes and amid easing consumer inflation. RBI had cut policy rates by 25 basis points in its last meet in October.
Overseas, Asian shares were mixed. US stocks rose yesterday, 6 December 2016, with the Dow Jones Industrial Average finishing at an all-time high for a second day in a row.
Closer home, foreign portfolio investors (FPIs) bought shares worth a net Rs 161.80 crore yesterday, 6 December 2016, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 164.68 crore yesterday, 6 December 2016, as per provisional data.
Shares ended with modest gains after hovering in a narrow range for most part of the trading session yesterday, 6 December 2016. The barometer index, the S&P BSE Sensex, rose 43.66 points or 0.17% to settle at 26,392.76. The Nifty 50 index rose 14.40 points or 0.18% to settle at 8,143.15.
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