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Indices may snap five-day gains
(01 Nov 2019, 08:25)

Stocks may take a breather on profit booking after logging gains for five consecutive days. Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 12 points at the opening bell. Auto companies will be in focus as these companies will start declare their October monthly sales.

On the macro front, the combined Index of Eight Core Industries stood at 120.6 in September, 2019, which declined by 5.2% as compared to the index of September, 2018.

Meanwhile, German Chancellor Angela Merkel arrived in Delhi on 31 October on a two-day visit during which she will reportedly hold talks with Prime Minister Narendra Modi on a host of bilateral issues, with nearly 20 agreements expected to be signed between the two countries.

Overseas, most Asian stocks were trading higher ahead of U.S. economic data.

US stocks fell on Thursday as conflicting tones surrounding a possible trade deal between the United States and China eclipsed strong earnings reports from Apple and Facebook.

Back home, the market ended with decent gains on Thursday, supported by banks and IT stocks. The barometer index, the BSE Sensex rose 77.18 points or 0.19% to 40,129.05. The Nifty 50 index rose 33.35 points or 0.28% to 11,877.45.

The trading activity on that day showed that the foreign portfolio investors (FPIs) bought shares worth a net Rs 1870.87 crore yesterday, 31 October 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 650.73 crore yesterday, 31 October 2019, as per provisional data.

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