Market is seen opening higher tracking positive global leads. Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 14.50 points at the opening bell.
Overseas, Asian stocks were trading higher Tuesday following overnight gains on Wall Street. US stocks ended higher Monday, boosted by better-than-expected economic reports, momentarily allaying fears of flagging economic growth.
Investors were also hopeful for a resolution to the US-China trade conflict, with a Chinese delegation led by Vice Premier Liu He set to visit Washington later this week.
On Monday, the Institute for Supply Management's manufacturing index showed that activity in the sector accelerated, coming in at a stronger-than-expected 55.3 in March versus a two-year low of 54.2% a month earlier. A reading above 50 indicates an expansion in activity.
Closer home, foreign portfolio investors (FPIs) bought shares worth a net Rs 898.79 crore on 1 April 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 1,032.81 crore on 1 April 2019, as per provisional data.
Domestic stocks settled with modest gains yesterday, 1 April 2019. Sentiment was boosted by positive global cues backed by fresh hopes of a progress in China-US trade talks. The barometer index, the S&P BSE Sensex, rose 198.96 points or 0.51% to 38,871.87. The Nifty 50 index rose 31.70 points or 0.27% to 11,655.60.
On the economic front, the output of eight core industries, comprising 40.27% of the weight of items included in the Index of Industrial Production (IIP), rose 2.1% in February 2019. The cumulative output has improved 4.3% in April to February 2018-19.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
