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Pre Session Commentary
You are here : Equity | News | Pre Session Commentary
A firm opening on the cards
(08:24, 12 Sep 2019)

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 28.90 points at the opening bell. India's retail inflation rate for August 2019 and industrial production figures for July 2019 will be announced today, 12 September 2019.

Monsoon rains in India were above average, the weather office said yesterday, 11 September 2019. The IMD said that for the country as a whole, cumulative rainfall during this year's monsoon from 1 June till 11 September was 3% above the Long Period Average (LPA). The June-September southwest monsoon is critical for the country's agriculture because a considerable part of the country's farmland is dependent on the rains for irrigation.

Overseas, Asian stocks are trading higher on Thursday on hopes for a thaw in US-China trade frictions and expectations that the European Central Bank will kick off another wave of monetary easing by global central banks.

US stocks moved higher on Wednesday, led by tariff-sensitive technology and industrial stocks after China extended an olive branch ahead of next month's trade negotiations with the United States.

Back home, key equity benchmarks ended with decent gains on Wednesday, tracking positive global cues. Easing US-China tensions buoyed trading sentiment across the global stock markets. The barometer index, the S&P BSE Sensex, rose 125.37 points or 0.34% to 37,270.82. The Nifty 50 index rose 32.65 points or 0.30% to 11,035.70.

The trading activity on that day showed that the foreign portfolio investors (FPIs) bought shares worth a net Rs 266.89 crore yesterday, 12 September 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 1132.42 crore yesterday, 12 September 2019, as per provisional data.

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