FII flows and other key factors steering Sensex, Nifty to new heights today

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Updated: March 29, 2019 9:51:35 AM

Even as Sensex and Nifty closed at a fresh six-month high on Thursday, a few factors including optimism from US-China trade talk, robust FII inflows and a possible Brexit solution may steer the headline indices further.

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Even as Sensex and Nifty closed at a fresh six-month high on Thursday, a few factors including optimism from US-China trade talk, robust FII inflows and a possible Brexit solution are driving the headline indices today. While the Sensex is trading 82 points higher at 38,627.77 level, Nifty is at 11,589.20 points, marginally up from the previous close. We take a look at the three factors which would trigger the Sensex, Nifty today:

FII flows: According to market experts, as this is the last trading day of March and this financial year, the investors will be keenly watching FII/FPI flows. “Underlying momentum has been very strong in the market led by strong FII inflows. Global markets also supported the market. Consistent FIIs have been positive throughout the month of March. In the latter part of February and the full month of March, there has been a strong inflow of FIIs,” Siddharth Khemka, Head Retail Research, Motilal Oswal Financial Services told Financial Express Online.

US-China talk: This is the second day of US and China trade talks in Beijing to negotiate a deal after a tariff spat that began last year. According to the global financial services provider, Credit Suisse, the trade negotiations between the two economic superpowers will have a major impact on the Asian stock markets. According to reports, both the countries will likely meet again in Washington on April 3 to iron out their differences.  As per Reuters, the US and China have made progress in all areas of trade talks, but enforcement and intellectual property remain the sticking points.

Brexit issue: Today is the third voting for Brexit deal in the House of Commons. An indicative vote was held in the House of Commons on Wednesday on eight possible options on Brexit which concluded with no clarity on Wednesday. Not a single option got a majority of support from the MPs.Prime Minister Theresa May also said that she would resign if the MPs vote for her Brexit deal.

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