header-borderNews Detailsheader-border

Subdued opening expected

07-Feb-20    07:53

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 14 points at the opening bell.

On the political front, Delhi Assembly elections will be held in single phase tomorrow, 8 February 2020 while results will be announced on 11 February 2020. The term of the 70-member Delhi Assembly is ending on 22 February 2020. Led by Arvind Kejriwal, Aam Aadmi Party (AAP) had come to power in Delhi in February 2015 sweeping 67 of the 70 Assembly seats.

Overseas, most Asian stocks were trading lower on Friday as the growing death toll and economic damage from a new virus spreading from China curbed further gains.

The death toll in mainland China rose to 636, more than doubling in just under a week, with the number of infections at 31,161.

In US, stocks closed higher on Thursday, seizing a fresh round of records, after the market got another shot of confidence from promised trade tariff reductions.

Beginning 14 February China would cut in half tariffs on some $75 billion of US imports, as part of its phase-one trade resolution with the U.S., according to reports from China's Ministry of Finance.

Back home, domestic shares advanced for fourth trading session on Thursday after Reserve Bank of India (RBI)'s Monetary Policy Committee (MPC) on Thursday refrained from slashing repo rate and maintained an accommodative stance. However, it announced certain measures aimed at ensuring better monetary policy transmission. Sentiment also improved after RBI estimated a 6% GDP growth rate for 2020-21 while projecting a 6.2% growth rate for Q3 December 2020. It revised the CPI inflation projection for Q4 March 2020 to 6.5% and 5.4-5% in the first six months of 2020-21 and 3.2% in the third quarter of 2020-21. The barometer BSE S&P Sensex rose 163.37 points or 0.40% to 41,306.03. The Nifty 50 index added 44.50 points or 0.37% to 12,133.65.

The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 560.36 crore yesterday, 6 February 2020, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 304.01 crore, yesterday, 6 February 2020, as per provisional data.

Powered by Capital Market - Live News

Attention Investor: Prevent Unauthorized Transactions in your Demat / Trading Account -> Update your Mobile Number & Email IDs with your Depository Participants & Trading Member to receive alerts on your Registered Mobile for all debit and other important transactions in your Demat account directly from NSDL/CDSL/Stock Exchanges on the same day. Issued in the interest of Investors. | KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary. | No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account.