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Pre Session Commentary
You are here : Equity | News | Pre Session Commentary
Stocks may open higher
(08:14, 09 Sep 2019)

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 11 points at the opening bell.

Overseas, Asian stocks were trading higher on Monday, as investors pinned expectations on likely stimulus to support growth in the world's major economies.

In US, the Dow and S&P 500 booked slight gains on Friday, but the Nasdaq slumped as investors digested a mixed US jobs report and bet on a Federal Reserve interest rate cut this month.

Fed Chairman Jerome Powell, meanwhile, described the economy and labor market as healthy, speaking at a question-and-answer in Switzerland after the jobs report.

The Labor Department said the U.S. economy added 130,000 jobs in August, down from the 159,000 jobs added in July. The unemployment rate remained steady at 3.7%, while average hourly earnings rose 0.4% month-over-month and 3.2% year-over-year.

Back home, key equity benchmarks ended with modest gains on Friday, tracking gains in global peers amid easing US-China trade tensions. The barometer index, the S&P BSE Sensex, rose 337.35 points or 0.92% to 36,981.77. The Nifty 50 index rose 98.30 points or 0.91% to 10,946.20.

The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 957.05 crore on Friday, 6 September 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 1207.20 crore on Friday, 6 September 2019, as per provisional data.

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