Local stocks are likely to open on a strong note on positive Asian stocks. Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could surge 82 points at the opening bell.
Trading could be volatile as traders roll over positions in the F&O segment from the near month September 2019 series to October 2019 series. The September 2019 F&O contracts expire today, 26 September 2019.
Overseas, Asian stocks are trading higher on Thursday as hopes the United States and China may soon end their year-long trade war boosted demand for riskier assets.
US stocks rose on Wednesday as investors shrugged off the news of an impeachment inquiry into President Donald Trump, while Nike shares jumped on upbeat quarterly results.
Back home,key domestic benchmarks corrected sharply on Wednesday, amid broad based selling pressure. Banks, auto and metals tumbled. The barometer index, the S&P BSE Sensex, slumped 503.62 points or 1.29% to 38,593.52. The Nifty 50 index shed 148 points or 1.28% to 11,440.20.
The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 342.40 crore yesterday, 25 September 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 762.48 crore yesterday, 25 September 2019, as per provisional data.
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