Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 6 points at the opening bell. Gains may get capped due to mixed cues from other Asian markets.
Overseas, Asian shares were mixed on Thursday, following a third consecutive day of losses on Wall Street as investors tracked US-China trade negotiations.
US stocks slid for a third consecutive session on Wednesday, as investors continue to wait for news of a trade deal between the US and China.
Payroll-service company ADP estimated that the US private sector added 183,000 jobs in February, according to FactSet.
US data released Wednesday showed the country's trade deficit soaring to a 10-year high of $59.8 billion in December. The US trade deficit soared to a 10-year high in 2018 of $621 billion, the Commerce Department said.
The Organisation for Economic Co-operation and Development (OECD) in its latest interim economic outlook said that the global economy is slowing and major risks persist, with growth weakening much more than expected in Europe. The OECD projects that the global economy will grow by 3.3% in 2019 and 3.4% in 2020. The outlook and projections cover all G20 economies. Downward revisions from the previous Economic Outlook in November 2018 are particularly significant for the euro area, notably Germany and Italy, as well as for the United Kingdom, Canada and Turkey.
Indian economic growth is seen improving to 7.2% in 2019 and 7.3% in 2020 after growing by 7% in 2018. However, the projections for 2019 and 2020 have been trimmed by 0.10% compared to the November estimate by the OECD. Business confidence and investment remain strong, and activity should benefit from easing financial conditions, lower oil prices, accommodative fiscal policy and recent structural reforms.
Closer home, foreign portfolio investors (FPIs) bought shares worth a net Rs 1,130.78 crore on 6 March 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 878.45 crore on 6 March 2019, as per provisional data.
Domestic stocks logged gains for third consecutive session on 6 March 2019. The barometer index, the S&P BSE Sensex, rose 193.56 points or 0.53% to settle at 36,636.10. The Nifty 50 index rose 65.55 points or 0.60% to settle at 11,053.
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