Market may open higher

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 12 points at the opening bell.

Overseas, Asian shares were trading lower on Tuesday with concerns China may slow the pace of policy easing curbing the market's enthusiasm.

US stocks ended a low-volume trading session little changed on Monday, with the biggest gains in the energy sector as investors otherwise stayed on the sidelines ahead of quarterly earnings.

Back home,key indices logged strong losses on Monday, as global crude oil prices spiked. Higher crude oil prices could increase fiscal deficit, current account deficit and stoke fuel price inflation. The Sensex fell 495.10 points or 1.26% to settle at 38,645.18. The Nifty 50 index fell 158.35 points or 1.35% to settle at 11,594.45.

 

The trading activity on that day showed that the foreign portfolio investors (FPIs) bought shares worth a net Rs 73.08 crore yesterday, 22 April 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 68.16 crore yesterday, 22 April 2019, as per provisional data.

Among corporate news,the National Stock Exchange of India (NSE) announced exclusion of Futures and Options (F&O) contracts on 34 securities with effect from 28 June 2019.

The list includes Ajanta Pharma, Allahabad Bank, BEML, Can Fin Homes, CEAT, CG Power and Industrial Solutions, Chennai Petroleum Corporation, DCB Bank, Godfrey Phillips India, Godrej Industries, Gujarat State Fertilizers & Chemicals, IDFC, IFCI, The India Cements, Indian Bank, Infibeam Avenues, IRB Infrastructure Developers, Jet Airways (India), Jain Irrigation Systems, Kaveri Seed Company, The Karnataka Bank, Mangalore Refinery and Petrochemicals, NHPC, Oriental Bank of Commerce, PC Jeweller, Repco Home Finance, Reliance Power, The South Indian Bank, Suzlon Energy, Syndicate Bank, Tata Communications, TV18 Broadcast, V-Guard Industries and Wockhardt.

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