Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 31 points at the opening bell. Investors are awaiting developments from the GST Council meet scheduled today, 20 September 2019.
As per reports, rate rationalisation by the GST Council and measures to boost economic growth may be unveiled
Overseas, Asian stocks were trading higher on Friday as economic stimulus around the world eased fears of economic deceleration.
On the trade front, Chinese and U.S. delegates are meeting Thursday and Friday ahead of higher-level meetings expected early October to resolve the yearlong trade dispute.
U.S. stocks closed near unchanged Thursday, giving up early gains scored following better-than-expected housing and manufacturing data a day after the second interest rate cut of 2019 by the Federal Reserve.
The Paris-based Organization for Economic Cooperation and Development, in a Thursday report underscored that intensifying tariff disputes have stalled economic growth world-wide.
Back home,the market declined sharply on Thursday, with banking and IT stocks leading the fall. The barometer index, the S&P BSE Sensex, fell 470.41 points or 1.29% to 36,093.47. The Nifty 50 index fell 135.85 points or 1.25% to 10,704.80.
The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 892.52 crore yesterday, 19 September 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 645.72 crore yesterday, 19 September 2019, as per provisional data.
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