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Positive opening expected

14-Feb-20    08:01

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 34 points at the opening bell.

Overseas, most Asian stocks were trading lower on Friday as investors turned cautious following a surge in cases of a new virus in China that threatens to crimp economic growth and hurt businesses worldwide..

In US, stock indexes closed lower on Thursday after a change in the methodology used by China resulted in a sharp rise in COVID-19 cases and deaths.

Back home, key market barometers ended with small losses on Thursday. While private banks dragged the indices lower, gains in IT shares provided support. Trading was volatile due to expiry of weekly index options on the NSE. The barometer S&P BSE Sensex, was down 106.11 points or 0.26% at 41,459.79. The Nifty 50 index lost 26.55 points or 0.22% at 12,174.65.

The trading activity on that day showed that the foreign portfolio investors (FPIs) bought shares worth a net Rs 1061.39 crore yesterday, 13 February 2020, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 960.48 crore, yesterday, 13 February 2020, as per provisional data.

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