Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could gain 109.25 points at the opening bell on firm Asian stocks.
Trading could be volatile this week as traders roll over positions in the futures & options (F&O) segment from the near month October 2017 series to November 2017 series. The near month October 2017 derivatives contract expire on Thursday, 26 October 2017.
Overseas, Asian stocks gained as the dollar spiked to more than three-month highs against the yen following a snap election in Japan on Sunday, 22 October 2017. Japanese Prime Minister Shinzo Abe's ruling coalition secured a two-thirds "super majority" after winning 312 out of 465 seats available at Sunday's election, as per reports. Abe's solid win at the polls points to a continuation of fiscal and hyper-easy monetary policies under his Abenomics program. Markets in Thailand and New Zealand are closed today for public holidays.
Wall Street stocks surged to fresh records Friday, 20 October 2017, after US lawmakers took a key step toward enacting the tax reform plan sought by President Donald Trump. Investors were cheered by a party-line 51-49 vote in the Senate for a federal budget plan that permits the legislative body to pass the tax cut plan with a simple majority vote instead of a 60-person supermajority.
Back home, trading for Samvat 2074 started on a weak note as key benchmark indices settled with modest losses on Thursday, 19 October 2017, on a special one hour muhurat session as weakness in global stocks weighed on investors' sentiment. The barometer index, the S&P BSE Sensex lost 194.39 points or 0.6% to settle at 32,406.16.
The muhurat trading session on account of Diwali Laxmi Pujan was conducted for one-hour between 18:30 IST and 19:30 IST on Thursday, 19 October 2017. The normal session of equity markets remained closed on Thursday, 19 October 2017, on account of Diwali and also remained closed again on Friday, 20 October 2017, on account of Diwali Balipratipada.
Foreign portfolio investors (FPIs) sold shares worth a net Rs 43.74 crore on Thursday, 19 October 2017, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 40.78 crore on Thursday, 17 October 2017, as per provisional data.
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