Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 10 points at the opening bell.
Overseas, Asian markets were muted in thinned business on Tuesday as investors across the region traded with an eye on the early finish ahead of the Christmas break.
In US, stocks recorded closing records on Monday as investors focused on a report that China will cut import tariffs for frozen pork, pharmaceuticals and some high-tech components starting 1 January 2020. The S&P and Nasdaq both hit new intraday highs Monday morning.
Thus far, China's cabinet has reportedly agreed to lower tariffs for all trading partners on more than 859 types of products to below the rates that most-favored nations enjoy. The lowered import duties will apply to frozen pork, as China aims to shore up its meat supplies amid an outbreak of swine fever. Tariffs on some of the products will fall to zero.
On economic front, new-home sales in November were at an annual rate of 719,000, a 1.3% increase from the revised October rate of 710,000.
Back home, on Monday, trading sentiment took a hit as trends showed Congress, Jharkhand Mukti Morcha (JMM) and Rashtriya Janata Dal (RJD) alliance ahead of the ruling BJP in Jharkhand Assembly election. The barometer index, the BSE Sensex, fell 38.88 points or 0.09% to 41,642.66. The Nifty 50 index lost 5.65 points or 0.05% to 12,266.15.
The trading activity on that day showed that the foreign portfolio investors (FPIs) bought shares worth a net Rs 1463.28 crore yesterday, 23 December 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 1947.36 crore, yesterday, 23 December 2019, as per provisional data.
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