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Markets may open slightly negative

04-Feb-20    07:57

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 stocks were trading higher on Tuesday as investors gauged efforts to contain the coronavirus and awaited potential responses from policy makers.

In US, stocks bounced back on Monday, clawing back some losses from Friday's brutal selloff, even as investors kept an eye on battered Chinese equity exchanges.

Also helping drive gains in US stocks were data on the manufacturing sector from the Institute for Supply Management, whose purchasing manager's index rose to a six-month high of 50.9% in January. A reading above 50% indicates expansion, while below 50% indicates contraction.

Back home, domestic shares ended with decent gains on Monday, after a sharp fall on Saturday, which was triggered due to lack of sufficient stimulus measures in the Union Budget. Gains were capped due to weak cues from other Asian stock markets. The barometer BSE S&P Sensex rose 136.78 points or 0.34% to 39,872.31. The Nifty 50 index added 46.05 points or 0.39% to 11,707.90.

The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 1200.27 crore yesterday, 3 February 2020, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 1286.63 crore, yesterday, 3 February 2020, as per provisional data.

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