Market is seen opening higher tracking positive leads from Asian markets and overnight gains on the Wall Street. Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 40.50 points at the opening bell.
Overseas, Asia markets traded in positive territory on the final trading day of the week, following record highs on Wall Street. Japan's Nikkei 225 advanced by 0.63%. The moves came following after a data release earlier showed that the country's nationwide core consumer price index for the month of August rose 0.9% compared to a year ago.
In US, trade-sensitive industrial stocks led the gains on Thursday. The Dow Jones Industrial Average 0.95% while the S&P 500 gained 0.78%, both hitting record highs.
The latest rally comes after new US and Chinese tariffs on each other's goods were set at lower rates this week than previously expected, raising hopes that hostilities between the world's two largest economies may be easing. Despite the trade risks, the outlook on corporate profit remained solid in many markets on the back of strong global growth, keeping equity valuations relatively attractive.
Closer home, foreign portfolio investors (FPIs) sold shares worth a net Rs 2184.55 crore on 19 September 2018, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 1201.30 crore on 19 September 2018, as per provisional data.
Domestic equity benchmarks gave up early gains and ended lower Wednesday, 19 September 2018, extending losses for third straight day. Selling in major sectors such as banks and FMCG weighed on the indices. The rupee hovering near its record low spooked investors. The Sensex fell 169.45 points or 0.45% to settle at 37,121.22, its lowest closing level since 26 July 2018. The Nifty 50 index fell 44.55 points or 0.39% to settle at 11,234.35, its lowest closing level since 26 July 2018.
The Indian stock market was shut on Thursday, 20 September 2018, on account of Muharram.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
