The outcome of the Reserve Bank of India's (RBI) monetary policy meeting will be closely watched today, 4 October 2019. Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 24 points at the opening bell.
The fourth bi-monthly monetary policy review meeting will be held by the Reserve Bank of India (RBI) on Friday, 4 October 2019.
Overseas, Asian stocks were trading mixed on Friday as investors turned cautious ahead of a key US job report that could help determine whether the Federal Reserve cuts interest rates further.
US stocks rose on Thursday after data showing US services-sector activity at a three-year low fuelled expectations that the Federal Reserve would cut interest rates to stem a wider economic downturn.
Back home,key benchmark indices extended losses for fourth consecutive session on Thursday, dragged by weak global markets. Metal shares tumbled on fears of weak global growth. The barometer index, the S&P BSE Sensex, fell 198.54 points or 0.52% to 38,106.87. The Nifty 50 index fell 46.80 points or 0.41% to 11,313.10.
The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 810.72 crore yesterday, 3 October 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 862.54 crore yesterday, 3 October 2019, as per provisional data.
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