Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could surge 90 points at the opening bell.
Meanwhile, the Reserve Bank of India (RBI) will transfer a surplus of Rs 1.76 lakh crore to the government as it has approved the recommendations of Bimal Jalan committee at the central board meet held yesterday, 26 August 2019.
Overseas, Asian stocks were trading higher on signs Sino-US trade hostilities might be easing helped restore investor confidence after the previous session's rout.
US stocks rose on Monday, following a sharp sell-off in the prior session, after US President Donald Trump predicted a trade deal with China, cooling investor concerns after a ramp-up in rhetoric derailed markets last week.
President Donald Trump, under pressure to scale back a US-China trade war partly blamed for a global economic slowdown, claimed on August 26 that the two sides will begin serious negotiations soon.
Back home,key equity barometers posted robust gains yesterday, 26 August 2019 in a highly volatile session. The 30-share Sensex rose 792.96 points or 2.16% to 37,494.12. The Nifty 50 index jumped 228.50 points or 2.11% to 11,057.85.
The buying was triggered by finance minister Nirmala Sitharaman announcing measures to revive the economy. Sitharaman after market hours on Friday, 23 August 2019, said the government has withdrawn the surcharge on foreign portfolio investors (FPIs), which she had unveiled in her budget for the fiscal year ending March 2020.
The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 752.90 crore yesterday, 26 August 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 1272.29 crore yesterday, 26 August 2019, as per provisional data.
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